Land Use & ZoningIntermediateAlaska Exam
Alaska's large amount of federally owned land affects private real estate markets primarily by:
AIncreasing property taxes for adjacent private landowners
BLimiting the supply of developable private land in many regionsCorrect
CRequiring all private land sales to be approved by the federal government
DMandating federal environmental reviews for all private construction
Why Limiting the supply of developable private land in many regions Is Correct
Answer B: Limiting the supply of developable private land in many regions
The federal government owns approximately 60% of Alaska's land (managed by the BLM, National Park Service, Fish and Wildlife Service, and others). This substantial federal ownership limits the supply of private land available for development, which affects land prices and development patterns throughout the state.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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