lecture13 - Government role in urban land market Zoning to...

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Unformatted text preview: Government role in urban land market Zoning to separate different land uses into separate zones Growth controls limit population growth Who wins and who loses? Zoning and Growth Controls: Introduction Comprehensive zoning started in 1916 Did change in transportation technology generate zoning? Truck: Replaced horse cart, causing industry to move to suburbs Bus: Low-income (high density) households between streetcar spokes Zoning to exclude industry and high-density housing? The Early History of Zoning Industrial Pollution Zoning separates residents from pollution Zoning doesnt reduce pollution, but moves it around Economic approach: internalize externality with pollution tax Retail Externalities: Congestion, noise, parking High Density Housing: Congestion, parking, blocked views Alternative: Performance standards for traffic, noise, parking, views Zoning as Environmental Policy Some communities eagerly host firms that generate fiscal surplus Fiscal deficit: Tax contribution less than cost of public services Fiscal Zoning Large household in small dwelling more likely to generate deficit MLS exploits complementarity of housing and land Target lot size: s = v* / (5 r) v* = target property value; r = market value of land (per acre) Example: s = $200,000 / (5 $80,000) = 0.50 acres Minimum lot size zoning (MLS) Externality: larger lot generates more space and higher utility for neighbors External benefit means that lots smaller than socially efficient size...
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lecture13 - Government role in urban land market Zoning to...

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