Efficiency and Spatial Impacts of Development Taxes: The Critical Role of Alternative Revenue-Recycling Schemes.

The article discusses a study related to the role of alternative revenue-recycling schemes, as a source of additional welfare from antisprawl policies. It mentions that even when there is uncertainty about the potential benefits of open space preservation, development taxes should still be part of the local tax system. A static model of an open city was developed for the study. It suggests that policymakers should consider additional issues regarding housing submarkets when allocating revenues.