Factors Affecting Commercial Land Values: An Empirical Study of Milwaukee, Wisconsin.

This article presents a study, which examines factors affecting commercial land values. Land rent and hence land value can be defined as the excess of total revenue aver the total. costs of production at that site. This excess is the result of the natural productivity of the site and tile activities of man which alter the site's productivity. Man alters the natural conditions of urban land by building improvements on it, supplying it with public services such as water, sewer and roads, arid altering the productivity of the sites surrounding it. Several writers have statistically explored the importance of various actors in determining urban land value. Many urban land value models have been presented in the literature. Many of these have their main emphasis on one aspect or another of location or transportation costs. These models often include consideration of lot size as well. Several studies have added other variables to location and lot size such as amenities, social overhead capital, taxes, topography, land use, and zoning.