April 06, 2010
Wider impact of schools
Parents closely watch the quality of schools their children attend. This is understandable, because obtaining a good education is a key to ultimately doing well in our economy. But are there other groups that might be interested in a school's performance?
Dr. Mike Walden, North Carolina Cooperative Extension economist in the College of Agriculture and Life Sciences at N.C. State University, responds:
"Absolutely ... . And ... one of the primary groups is property owners. The point here is that if you own property -- let's say -- in a county, and the county -- you have a countywide school system, so that if someone lives in that county in most cases the children are going to go to the county school system. Then as a property owner, the value of your property will be in part affected by how good the schools are perceived to be. That is to say, if schools are perceived to be better, that actually is going to have a positive affect on property values in the county, because more people want to live in that county and send their kids to the good schools.
"And the opposite, if the schools are perceived to be not as good. That will have an adverse affect on property values because not as many people want to live there.
"This tie-in, if you will, between property values and the impact of schools -- the value of schools -- has been demonstrated time and time again in economic studies. And it is one reason why you often see property owners being very concerned about the local quality of schools."
Posted by deeshore at April 6, 2010 08:14 AM