An Economic Analysis of the Value of Local Street Improvements In Springfield, Oregon
| dc.contributor.author | Rasmussen, Ethan | |
| dc.contributor.author | Yang, Famery | |
| dc.contributor.author | Blonigen, Bruce A. | |
| dc.date.accessioned | 2013-04-04T23:03:29Z | |
| dc.date.available | 2013-04-04T23:03:29Z | |
| dc.date.issued | 2012 | |
| dc.description | 43 pages | en_US |
| dc.description.abstract | The City of Springfield faces deteriorating street conditions due to a steady decline in transportation funding. The City believes a possible solution to this problem is to improve its local streets with funding from residential property assessments. However, to encourage property owners to bear the costs of improving roads, the City would like to better understand the value of local street improvements. This paper surveys the existing literature on amenity valuation and infrastructure investment and proposes a hedonic price regression to estimate the impact local street conditions have on residential house prices. Our results suggest better street conditions have a positive effect on Springfield house prices when property values exceed a minimum sales price threshold. Based on these findings, we conduct a cost-benefit analysis of local street improvements and suggest additional considerations for the City of Springfield. | en_US |
| dc.identifier.uri | https://hdl.handle.net/1794/12830 | |
| dc.language.iso | en_US | en_US |
| dc.publisher | University of Oregon | en_US |
| dc.rights | cc_by-nc-sa | en_US |
| dc.subject | Springfield (Or.) | en_US |
| dc.subject | City planning -- Oregon -- Springfield | en_US |
| dc.subject | Streets -- Oregon -- Springfield | en_US |
| dc.title | An Economic Analysis of the Value of Local Street Improvements In Springfield, Oregon | en_US |
| dc.type | Technical Report | en_US |