Analysis of growth rates of residential land values on and near the regulated flood plain Public Deposited

http://ir.library.oregonstate.edu/concern/graduate_projects/1g05fc384

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  • Flood plain regulations are one of six major adjustments used to cope with flood hazard in the United States. This adjustment was essentially neglected in the national flood hazard policies until Congress enacted the National Flood Insurance Act of 1968. The implementation of regulations, as called for in the Act, has been slow. One possible reason for the slow pace of implementation is that there has been little evidence regarding the influence of regulations on land values. This study sought to determine, for two selected sites on the Willamette River, whether land values of flood plain parcels have been responsive to the implementation of flood plain regulations. The measure of responsiveness was the assessed land value appreciation rates. Statistical analysis showed that, subsequent to the implementation of regulations, parcels on the regulated flood plain tended to appreciate in value at rates less than those of parcels near the regulated flood plain. Prior to enactment of flood plain regulations, the flood-prone parcels tended to appreciate more than nearby parcels from above the 100-year flood plain.
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