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This study estimates the non-market value of horse farms of Central Kentucky’s equine economic cluster using a contingent valuation approach. Utilizing a payment card, respondents are asked to indicate how… Click to show full abstract
This study estimates the non-market value of horse farms of Central Kentucky’s equine economic cluster using a contingent valuation approach. Utilizing a payment card, respondents are asked to indicate how much they would be willing to pay in additional taxes for a hypothetical “horse farm preservation program.” Results from the study showed that, on average, a Central Kentucky household was willing to pay an additional $55.14–$67.78 in taxes annually to maintain the equine industry at its current levels. The additional taxes generated would compensate for lost tax revenue from development of the land.
Journal Title: Sustainability
Year Published: 2019
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