Central Kentuckians’ Willingness to Pay for Horse Farm Preservation

SuZanne Troske, Stephanie Waters, James Allen, Alison Davis and C. Stowe
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SuZanne Troske: Community and Economic Development in Kentucky (CEDIK), University of Kentucky, Lexington, KY 40506, USA
Stephanie Waters: Neogen Corporation, Lansing, MI 48912, USA
Alison Davis: Department of Agricultural Economics and CEDIK, University of Kentucky, Lexington, KY 40506, USA

Sustainability, 2019, vol. 11, issue 19, 1-15

Abstract: This study estimates the non-market value of horse farms of Central Kentucky’s equine economic cluster using a contingent valuation approach. Utilizing a payment card, respondents are asked to indicate how much they would be willing to pay in additional taxes for a hypothetical “horse farm preservation program.” Results from the study showed that, on average, a Central Kentucky household was willing to pay an additional $55.14–$67.78 in taxes annually to maintain the equine industry at its current levels. The additional taxes generated would compensate for lost tax revenue from development of the land.

Keywords: contingent valuation; equine industry; horse farm preservation (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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