Assessing the efficiency of local open space provision

• 成果类型: Article
• 署名作者: Lang, Corey
• 署名单位: University of Rhode Island
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/j.jpubeco.2017.12.007
• 发表日期: 2018
• 页码: 12-24
• 关键词: Local public finance; open space; Hedonic valuation; regression discontinuity; voting; Referendum; tax capitalization; Homevoter hypothesis

摘要

This paper tests the efficiency of local provision Of land conservation. I examine how housing prices, which, 4 capitalize open space amenities and future. tax obligations, change 'after municipalities vote on referendums for conservation spending. Using a dynamic regression discontinuity based on voting outcomes, results suggest that average housing prices increase about 0.68-1.12% for every $1000 per household of open space spending authorized, which indicates inefficiency and underprovision of conservation. I also examine tax capitalization and supply side explanations for estimated capitalization.