Land Values and Transfers at the County Level
| Variable | All Parcels | Outside Districts | Inside Districts | All Parcels | Outside Districts | Inside Districts | All Parcels | Outside Districts | Inside Districts |
|---|---|---|---|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | |
| Water transferred from all districts in county in t − 1 (WTc(t–1)) | 0.0110*** | 0.0141 | 0.0143** | ||||||
| (0.00306) | (0.0130) | (0.00584) | |||||||
| Water transferred from all districts in county in t − 2 (WTc(t–2)) | 0.00993 | −0.0131 | 0.0183* | ||||||
| (0.00592) | (0.00787) | (0.00840) | |||||||
| Water transferred from all districts in county in t − 3 (WTc(t–3)) | 0.00687 | −0.0155 | 0.0191** | ||||||
| (0.00619) | (0.0171) | (0.00671) | |||||||
| Depth-to-groundwater in spring in t − 1 (feet below land surface) | −0.00254* | −0.00333** | −0.00190 | −0.00259* | −0.00330** | −0.00197 | −0.00258* | −0.00330** | −0.00193 |
| (0.00136) | (0.00120) | (0.00166) | (0.00134) | (0.00117) | (0.00167) | (0.00132) | (0.00120) | (0.00167) | |
| Coefficient of variation in spring depth-to-groundwater in previous 5 years | 0.00630 | 0.00783 | 0.00242 | 0.00649 | 0.00786 | 0.00198 | 0.00664 | 0.00769 | 0.00214 |
| (0.00530) | (0.00618) | (0.00264) | (0.00536) | (0.00610) | (0.00210) | (0.00539) | (0.00614) | (0.00275) | |
| County has a permit requirement for GWS-based transfer (GWSc = 1) | −0.338*** | −0.108* | −0.167 | −0.352*** | −0.185** | −0.173 | −0.368*** | −0.203** | −0.190 |
| (0.0733) | (0.0588) | (0.117) | (0.0836) | (0.0625) | (0.120) | (0.0796) | (0.0845) | (0.110) | |
| Constant | 9.542*** | 9.408*** | 9.224*** | 9.559*** | 9.512*** | 9.222*** | 9.576*** | 9.534*** | 9.232*** |
| (0.189) | (0.142) | (0.145) | (0.201) | (0.142) | (0.153) | (0.200) | (0.161) | (0.150) | |
| Parcel controls | x | x | x | x | x | x | x | x | x |
| Year | x | x | x | x | x | x | x | x | x |
| County | x | x | x | x | x | x | x | x | x |
| Observations | 10,200 | 5,730 | 4,470 | 10,200 | 5,730 | 4,470 | 10,200 | 5,730 | 4,470 |
| Adjusted R-squared | 0.366 | 0.383 | 0.391 | 0.366 | 0.383 | 0.392 | 0.366 | 0.383 | 0.392 |
Note: Robust standard errors are in parentheses. Errors are clustered at the county. Parcel controls include elevation, slope, river frontage, distance to paved roads, travel time to major cities, distance to urbanized area (population > 50,000), distance to urban cluster (population > 2,500 and < 50,000), total population within 25 square miles, % building footprint between 500 m and 5,000 m, building square footage, and soil quality. GWS = groundwater substitution.