Toll roads and economic development: exploring effects on property values

An increasing number of toll projects are being considered across the country, and questions are often raised about the impact of toll roads on the economy and economic development in the region. This paper examines the effects of toll roads in a major metro area. Toll roads in Dallas County, Texas, are examined for their impacts on property values, one indicator for economic development impacts. Particular emphasis is placed on the temporal and spatial nature of the impacts. The paper examines impacts of existing toll roads using residential transactions data spanning a period of 20 years and a combination of traditional and spatial econometric approaches.