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Open AccessArticle

Central Kentuckians’ Willingness to Pay for Horse Farm Preservation

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Community and Economic Development in Kentucky (CEDIK), University of Kentucky, Lexington, KY 40506, USA
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Neogen Corporation, Lansing, MI 48912, USA
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Gerald R. Ford School of Public Policy, University of Michigan, Ann Arbor, MI 48109, USA
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Department of Agricultural Economics and CEDIK, University of Kentucky, Lexington, KY 40506, USA
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Department of Agricultural Economics, University of Kentucky, Lexington, KY 40506, USA
*
Author to whom correspondence should be addressed.
Sustainability 2019, 11(19), 5210; https://doi.org/10.3390/su11195210
Received: 22 August 2019 / Revised: 16 September 2019 / Accepted: 18 September 2019 / Published: 23 September 2019
(This article belongs to the Special Issue Sustainability in the Equine Industry)
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. View Full-Text
Keywords: contingent valuation; equine industry; horse farm preservation contingent valuation; equine industry; horse farm preservation
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Troske, S.; Waters, S.; Allen, J.; Davis, A.; Stowe, C.J. Central Kentuckians’ Willingness to Pay for Horse Farm Preservation. Sustainability 2019, 11, 5210.

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