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| Magnet Schools and the Differential
Impact of School Quality on Residential Property Values Author: Michael L. Walden Start Page: 221 Abstract: Previous research has
concluded that public school quality is capitalized into local house prices. This result
is reasonable if residents are assigned to local schools and have no freedom of school
choice. The magnet school concept gives parents some degree of freedom of choice for
schools within a local school district. The availability of magnet schools should thus
reduce the capitalized value of school quality within a school district. This hypothesis
is tested using data from Wake County (Raleigh), North Carolina. The results show that
school levels where the magnet program has been most extensively implemented have lower
capitalized values. |
