Land Use & ZoningIntermediateColorado Exam
The Colorado counties of Eagle, Summit, and Pitkin are all considered 'resort and second-home markets.' A real estate concern unique to these areas is:
AHigher-than-average industrial zoning restrictions
BHousing affordability for the local workforce alongside high market values driven by vacation demandCorrect
CVery low property tax rates that reduce funding for local services, as is typical in most transactions
DProhibition on short-term vacation rentals
Why Housing affordability for the local workforce alongside high market values driven by vacation demand Is Correct
Answer B: Housing affordability for the local workforce alongside high market values driven by vacation demand
Colorado resort counties face a tension between high second-home demand that drives up property values and the inability of local service workers to afford housing. This has led to workforce housing programs, inclusionary zoning, and deed-restricted affordable housing in these communities.
Key Land Use & Zoning Terms in This Question
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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.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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