THE IMPACT OF REGIONAL LAND-USE CONTROLS ON PROPERTY-VALUES - THE CASE OF THE NEW-JERSEY PINELANDS

Many state legislatures are considering the adoption of regional or statewide growth management programs. These programs promise open space and agricultural preservation as well as efficient suburban development; they also impose costs on individuals. Under these programs, a set of landowners is required to restrict the future use of their land in order to promote the broader goals of society. The economic impacts of these policies have not been given prominent position in the literature. This paper seeks to explore the change in real estate prices over a 20 yr period encompassing the introduction of regional growth controls to the approximately one million acres of southern New Jersey known as the Pinelands. The study begins with a review of the existing literature, describes the Pinelands zones, explores its research design, and concludes with a set of findings. -from Author