Chapter 4 Book Notes - Chapter 4 Book Notes The Power of...

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Chapter 4 Book Notes The Power of Government to Regulate Land Use o Government has police power which gives them regulation rights o Monopolies- overpricing goods and services and producing less output than is efficient Transportation, water, and sewage systems o Externalities- can be either positive or negative Beneficial effects on property value from exceptional vistas, and quality neighborhood schools. A factory that lets out a lot of smoke would be a negative externality. Congestion- pervasive form of externality in urban life Urban Sprawl- development taking place in rural areas well beyond the urban fringe o Incomplete Information- while building codes help make things safer, some things are still not 100% o Uncertainty and value stability- homes are the largest single asset of most households o Counterarguments to Land Use Control- whatever market distortions exist in land user are outweighed by the detrimental effects of zoning Public Planning for Land Use Control o Comprehensive Planning- general guide to a community’s future growth and development Local jurisdictions must have comprehensive plans submitted and approved by a state agency Economic and environmental impact statements that analyze the project’s effect on surrounding areas must accompany proposals for large-scale developments. Enough public services such as schools and police must be provided when
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This note was uploaded on 02/08/2012 for the course REAL EST 306 taught by Professor Mccabe during the Spring '12 term at University of Wisconsin Colleges Online.

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Chapter 4 Book Notes - Chapter 4 Book Notes The Power of...

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