factors that shape and influence markets for real property. We will develop the theory of land markets and locational choice …

governments regulate private land use mainly through zoning. By creating a barrier to entry and lessening competition in local …

(improvement characteristics), which are affected by zoning. Since lot size restrictions limit the size characteristics of homes …

The distribution of lot sizes and associated improvements affect property values. Hence, zoning affects municipal … property tax revenues. If optimal lot size is inconsistent with the targeted zoning density in a community, municipal revenue … can be increased through zoning change. This paper theoretically derives the optimal lot size that maximizes tax revenues …

, one of the only regions where data on individual sales are available. We find that baseline zoning is a critical …