Land Development and Current Use Assessment: A Theoretical Note

Richard W. England and Robert D. Mohr

Agricultural and Resource Economics Review, 2003, vol. 32, issue 1, 46-52

Abstract: This paper jointly models a landowner's decision to develop a parcel and the option to enroll that parcel in a current use assessment program. The analytical results highlight different factors that influence the effectiveness of a current use program in delaying development. The results also underscore the difficulty a local government might have in influencing the behavior of the landowner. Except for altering eligibility rules, a local government employing current use assessment has but two policy tools: a penalty for development and the property tax rate.

Date: 2003
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