Economic Analysis

EFClogo.jpgThe New England Environmental Finance Center was was commissioned by the North Carolina Forest Service to examine the economic effects that conserved open space could have on a small town experiencing development pressure.

Pittsboro, NC: An Analysis of the Future Property Tax Revenues and Co-benefits of Conservation

The study estimated the property tax revenues for a future buildout scenario using available data in the Pittsboro ETJ, and then examined the change in property tax revenues from single-family housing, as conserved open space was increased. The study also examined the positive co-benefits associated with conservation that are well-documented in other studies, particularly with a focus on increases in real estate values for homes that are in close proximity to conserved areas.

Summary Report

Map of the proposed Natural Resources Conservation Overlay District (NRCO) relative to ETJ zoning and PDD land use sections used for this study

Comparison of the current and future property tax revenues in Pittsboro under the three conservation scenarios and the two approaches used to calculate building units in the Planned Development District.
Figure1 Chart.jpg

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