PT  - JOURNAL ARTICLE
AU  - Heintzelman, Martin D.
TI  - Measuring the Property-Value Effects of Local Land Use and Preservation Referenda
AID  - 10.3368/le.86.1.22
DP  - 2010 Feb 01
TA  - Land Economics
PG  - 22--47
VI  - 86
IP  - 1
4099  - http://le.uwpress.org/content/86/1/22.short
4100  - http://le.uwpress.org/content/86/1/22.full
SO  - Land Econ2010 Feb 01; 86
AB  - This paper examines a Massachusetts policy that encourages communities to raise money through referenda for preservation and affordable housing. I use difference-indifferences, fixed effects, and quantile regression to compare home prices before and after such referenda in two towns. I include covariates representing existing land uses, zoning, and historic resources to estimate the value of these amenities. Standard regression techniques indicate weak effects of the referenda, while the estimated coefficients on land use and historic preservation confirm that preservation has a positive effect on property values. The quantile regression sheds light on some heterogeneity that goes unnoticed in standard regression results. (JEL Q24, R14)