A Market Solution to Change in Property Values Due to Re-Zoning

The most common argument against rezoning property is the proposed change will decrease property value of the surrounding property.

I have often wondered, how earnest are the individuals making the argument. Do they sincerely believe it? Are the willing to invest in that belief?

Consider the following scenario: developer desires to rezone 100 acres of land to allow for the construction of 75 homes. The subject property adjoins 25 established homes. You, as one of the 25 home owners, are concerned that the proposed development will decrease your property value.

What if there was an agreement that protected both you and the developer? If your property value goes down, they pay you. If your property value goes up, you pay them. Would you enter into such an agreement?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s