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"Zoning has for a century enabled cities to chart their own course. It is a useful and popular institution, enabling homeowners to protect their main investment and provide safe neighborhoods. As home values have soared in recent years, however, this protection has accelerated to the degree that new housing development has become unreasonably difficult and costly. The widespread Not In My Backyard (NIMBY) syndrome is driven by voters’ excessive concern about their home values and creates barriers to growth that reach beyond individual communities. The barriers contribute to suburban sprawl, entrench income and racial segregation, retard regional immigration to the most productive cities, add to national wealth inequality, and slow the growth of the American economy. Some state, federal, and judicial interventions to control local zoning have done more harm than good. More effective approaches would moderate voters’ demand for local-land use regulation—by, for example, curtailing federal tax subsidies to owner-occupied housing"--Publisher's description.
The changes will be economically disruptive because they increase uncertainty in property markets, weaken the contractual nature of land development, and provide more opportunities for planners and the general public to delay development. The result will be more volatile property markets, reduced supply and higher prices and rents.
"Chapter 160D of the North Carolina General Statutes is the first major recodification and modernization of city and county development regulations since 1905. The endeavor was initiated by the Zoning and Land Use Section of the N.C. Bar Association in 2013 and emanated from the section's rewrite of the city and county board of adjustments statute earlier that year. This bill summary and its many footnotes are intended to help citizens and local governments understand and navigate these changes."--Page vii.
This is the third book in the series offering a new selection of the best urban planning scholarship from each of the world's planning school associations. The award winning papers presented illustrate the concerns and the discourse of planning scholarship communities and provide a glimpse into planning theory and practice by planning academics around the world. All those with an interest in urban and regional planning will find this collection valuable in opening new avenues for research and debate.
Land use controls can affect the quality of the environment, the provision of public services, the distribution of income and wealth, the development of natural resources, and the growth of the national economy. The Economics of Zoning Laws is the first book to apply the modern economic theory of property rights to all major aspects of zoning. Zoning laws are neither irrational constrints on otherwise efficient markets nor disinterested attempts to correct market failure. Rather, zoning must be viewed as a collective property right, vested in local governments and administered by politicians who rationally repsond to their constituents and to developers as markets for development rights arise. The Economics of Zoning Laws develops the economic theories of property rights and public choice and applies them to three zoning controversies: the siting of a large industrial plant, the exclusionary zoning of the suburbs, and the constitutional protection of propery owners from excessive regulation. Economic and legal theory, William Fischel contends, suggest that payment of damages under the taking clause of the Constitution may provide the most effective remedy for excessive zoning regulations.