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Three Essays In Political Economy, Melissa Yeoh

All Dissertations

The first essay provides a theoretical framework that informs the ongoing debate regarding the effect of conservation easement subsidies on local property tax revenue. Supporters claim that conservation easements increase property tax revenue by providing environmental amenities that increase the value of adjacent properties. Critics argue that they decrease property tax revenue by lowering land values and shrinking the tax base. In instances when local property tax revenue decline due to the income tax deductibility of conservation easements, the decline is larger when the demand for land is more elastic, the proportion of non-agricultural land in the county is larger, …