Land Value Capitalization in Local Public Finance
Journal of Political Economy
1981
We explore the conditions under which the welfare benefits of local public goods projects will be capitalized into land values. We find two types of sufficient conditions, one involving similar communities and the other involving differentiated communities. The form of capitalization differs between these cases, and we explore the nature of these differences. We also examine intermediate cases and identify models in which there will be no capitalization.
- DOI
- 10.1086/260967
- Volume
- 89 (2)
- Pages
- 306-327
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref