- In Calvert and Howard County Maryland, the researchers found that preserved open space increases property values on adjacent residential parcels and asked: how many additional acres of open space could be preserved from this increase in residential land value and consequent generation of higher property tax revenues?
- In Calvert County, the increase in tax revenue generated from a 1% increase in preserved agricultural land (148 acres) from the increased values of the houses within one-mile of the preserved property would be sufficient to purchase an additional 88 acres in the first year and, assuming no real change in housing prices and no change in the property tax rate, 2,640 acres in 30 years.
- In Howard County, this 1% increase in preserved agricultural land (181 acres) could generate sufficient additional tax revenues to purchase 110 acres in one year and 3,300 acres in 30 years.
- In Carroll County property values are not affected by proximity to open space. The authors offer hypotheses as to why this may be, and conclude that more research is necessary.
Last modified by Nate Lotze