The undeveloped property continues to appreciate over time. Property values associated with residential development do not necessarily appreciate. Some will depreciate and cost a municipality more as the tax base from the initial development erodes. Studies also show access to protected open space is a valuable amenity in the real estate market. Open space produces a tax revenue surplus that subsidizes other land uses.
Open space costs less than industrial, residential and commercial in municipal services.
Many studies confirm this finding. Commercial and industrial development can, in themselves, generate revenues at relatively low municipal service costs. However, these kinds of developments require employees and infrastructure, such as roads, police, fire, garbage, etc. These developments also fuel housing growth to accommodate employees which bring higher tax rates. Open space protection saves public funds by preventing development of hazardous areas.