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The Value of Land Conservation: Evidence from North Carolina
John F. Chamblee University of Georgia - Department of Anthropology Peter F. Colwell University of Illinois Carolina A. Dehring University of Georgia - Department of Insurance, Legal Studies, Real Estate Craig A. Depken University of North Carolina at Charlotte - The Belk College of Business Administration - Department of Economics November 2009 Abstract: We examine conservation activity in western North Carolina, where state income tax credits from land conservation have been available since 1983. Six land trusts, including the Nature Conservancy, undertake conservations in both fee simple and in conservation easement over a twelve year period. We find that value of conserved land differs by conservation mechanism, with fee conservations occurring in localized value craters. The price effect to adjacent land from conservation also varies by conservation mechanism, with greater benefits resulting from conservation easements. The mountainous landscape allows us to measure a variety of pricing effects from land conservation, including view.
Keywords: land policy, amenity effect JEL Classifications: R14, R52, H23 Working Paper SeriesDate posted: November 04, 2009 ; Last revised: November 04, 2009Suggested CitationContact Information
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