This paper examines the effect of public acquisitions of open space on changes in house prices and the municipal tax base using municipal-level data from New Jersey. We find that open-space expenditures yield a stream of benefits in the future but that any effect of open-space acquisitions on the tax base is immediate. Finally, we find that while higher tax rates are associated with a lower tax base, a larger tax base depresses tax rates.
All Science Journal Classification (ASJC) codes
- Environmental Science(all)
- Social Sciences(all)