Understanding the Impact of Zoning on Property Value§
Zoning is a type of regulation enacted to control how land is used within different areas. There are various types of land zoning, including agricultural, residential, commercial, open space, and industrial zones. Understanding the zoning types surrounding your property is essential, especially when selling.
For instance, a house surrounded by residential and open space zones is likely to be more valuable than one near an industrial zone. After all, living next to a chemical plant is less appealing to most homebuyers.
Zoning can also involve more specific regulations, designed to protect property value and limit inappropriate land use. For example, zoning can prevent the construction of a high-rise condo in a suburban neighborhood, maintaining the area’s residential character and protecting property values.
Related Terms: Land Use Planning, Rezoning, City Ordinance, County Zoning, Municipal Zoning, Master Plan.
