How has Oregon's land use planning system affected property values?

Oregon's landmark land use planning system has been criticized for imposing large negative effects on landowners’ property values, although evidence to support these claims has been lacking. This paper examines longitudinal data for undeveloped parcels since before adoption of the planning system. The sample includes parcels under different land use regulations, and it compares Oregon to Washington. The results indicate generally that property values have increased at similar rates both inside and outside urban growth boundaries, and across parcels zoned for different uses and across state lines. The results are consistent both with theory and with other studies indicating land use regulations can have positive, neutral or negative effects.