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- Title
Property Values, Schools, and Park-School Combinations.
- Authors
Hendon, William S.
- Abstract
The major hypothesis of this property analysis suggests that the park-school combination increases adjacent property values. This hypothesis is made on the assumption that schools generally harm property values. This should not be misconstrued; the point is that schools can create nuisance value for residential groups who live immediately adjacent to them. While it is desirable to live near a school, it is generally undesirable to live too close to them; that is, across the street or within the block because of noise, traffic and other nuisances. On the other hand, in certain cases parks can create increased residential property values. It is interesting to see if, in the park-school combination, the advantage of the park offsets the disadvantage to values of property near the school. The technique of regression analysis was employed. The form of the sample included all of the properties in every other ring of properties around the three schools and three park-school combinations and extending this series of rings until a significant additional value determinant was assumed to impinge.
- Subjects
PROPERTY; VALUATION of real property; SCHOOL sites; VALUATION; PARKS; SCHOOLS; PUBLIC institutions; EDUCATION
- Publication
Land Economics, 1973, Vol 49, Issue 2, p216
- ISSN
0023-7639
- Publication type
Report
- DOI
10.2307/3145285