In this article I expand on Turnbull's presentation by highlighting two important aspects of regulations and their effects on land use. First, I summarize what we know about the dynamic effects of property taxation and discuss alternative tax regimes and their implications for land use. Second,...

Economists have long understood that the conventional property tax causes the housing stock to be smaller than it would be in the presence of a non-distortionary tax such as a land or site value tax. This note brings together the results from models of housing development timing and structural...