House Prices and the Structure of Local Government: An Application of Spatial Statistics

House Prices and the Structure of Local Government: An Application of Spatial Statistics When two internally homogeneous communities decide to jointly provide a public service, residents of each community lose some control over the public service provision. The loss of control over public schooling provision contributes to a $2,929 or 3.5 percent drop in constant-quality house value. Increased heterogeneity of the consolidated district is responsible for almost all the drop; the increased number of service recipients alone is responsible for almost none of the drop. The spatial hedonic, corrected for sample selection bias, also suggests economies of scale gains from school district consolidation must be worth at least $3,369—4 percent of house value. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Journal of Real Estate Finance and Economics Springer Journals

House Prices and the Structure of Local Government: An Application of Spatial Statistics

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 2004 by Kluwer Academic Publishers
Subject
Economics; Regional/Spatial Science; Financial Services
ISSN
0895-5638
eISSN
1573-045X
D.O.I.
10.1023/B:REAL.0000035311.59920.74
Publisher site
See Article on Publisher Site

Abstract

When two internally homogeneous communities decide to jointly provide a public service, residents of each community lose some control over the public service provision. The loss of control over public schooling provision contributes to a $2,929 or 3.5 percent drop in constant-quality house value. Increased heterogeneity of the consolidated district is responsible for almost all the drop; the increased number of service recipients alone is responsible for almost none of the drop. The spatial hedonic, corrected for sample selection bias, also suggests economies of scale gains from school district consolidation must be worth at least $3,369—4 percent of house value.

Journal

The Journal of Real Estate Finance and EconomicsSpringer Journals

Published: Oct 13, 2004

References

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