Articles filed under Property Values from Canada
A Melancthon family is taking Dufferin Wind Power Inc. to court over allegations that the hydro transmission lines have affected their quality of life. The case is set to go before the Local Planning Appeal Tribunal in the spring, after expert reports have been filed for both sides.
This study also addresses underlying reasons for the lack of consensus across related studies in other jurisdictions. There are a number of potential contributing factors, including the possibility that differences in attitudes toward wind energy may influence the likelihood of property value impacts. Areas with greater opposition to wind energy development may be more likely to experience negative impacts on property values. I examined the degree to which differences in attitudes influenced property values in Ontario.
A member of the Multi Municipal Wind Turbine working group says an assessment of property values confirmed a 25% property devaluation due to industrial wind turbines.
While disgruntled cottage owners near the new wind farm at South Canoe are upset by the way their view has been altered and about a possible drop in property values, an expert on renewable energy at Dalhousie University thinks they have little to be concerned about.
“The turbines that are proposed here are quite large,” she said. “The majority of the population here very clearly doesn’t want them. Put simply, if you were to buy your future home, given the choice, would you buy where you would have noise, shadow flicker, an industrial view, potential health issues caused by the turbines, and the possibility of a very difficult resale, or would you spend your money elsewhere?”
The paper by Vyn and McCullough (2014) should not have been published in its current form as the results are being misinterpreted and highly publicized in the press and in radio broadcasts. The core issue is the lack of power in the statistical tests, a problem partially acknowledged by the authors but then dismissed by their focusing attention on tests for the sensitivity of their model specification.
Wind turbines generally have little effect on the value of nearby properties with possibly isolated exceptions, a recent study of thousands of home and farm sales has found. ...One appraiser's report found the values of five properties close to turbines – bought and resold by wind farm developers – plunged by more than half, the researchers note. In addition, homes or farms that may not have sold because of nearby turbines don't show up in the sales data.
Realtors say the value of waterfront homes in the town has slid steeply over the past five years due to the eyesore of Wolfe Island Wind Farm, creating a buyer’s market for those who don’t mind looking out at turbines.
Correia, who moved to Wellandport to escape the city life, will have one industrial wind turbine erected at the minimum provincial setback of 550 metres from her home. There will be four others within a four-kilometre radius. She doesn't want to live next to the monolithic giants.
About a decade ago, large industrial pork operations were moving into the area, and residents and politicians were concerned about the environmental and fiscal impact of the farms. ...This pattern of events is unfolding all over again, say local realtors, as Haldimand becomes home to one of Canada’s largest wind energy projects.
Healey noted that the landowners near the proposed wind farms had submitted expert opinion estimating that drop in land values of 20 to 50 per cent. She said the landowners can file a damage claim when the project clears all of its regulatory approvals.
"All it takes is just saying well there is a project that has been proposed that entails bringing 33 to 37 huge wind turbines and people just say oh no no no we'll walk away from that." This is the second time Best's home has been put on the market and without a buyer she is left with few options.
Janet Grace, Real Estate Agent, Royal LePage: "All it takes is just saying well there is a project that has been proposed that entails bringing 33 to 37 huge wind turbines and people just say oh no no no we'll walk away from that." This is the second time Best's home has been put on the market and without a buyer she is left with few options.
A report by Ben Lansink of London-based Lansink Appraisals and Consulting, shows re-sale values for residential properties in Melancthon and Amaranth townships between 2005 and 2012 dropped an average of 38.8% in the years after a wind turbine facility was announced and built.
I am including the list of property assessment reductions from MPAC since 2008. The list shows 78 significant assessment reductions since 2008 (the wind farm became operational in 2009) totaling $3 million in reductions. The 6 largest reductions are listed below and are situated very close to the turbines.
I sent away for a list of property assessment reductions from MPAC for Wolfe Island Township (home to the province's second largest wind farm). This list, provided through the Freedom of Information Act, clearly shows all the assessment reductions since that wind farm became operational in 2009. The list shows 78 significant assessment reductions since 2008 totalling $3 million. The six largest reductions were over $100 000 each
In one case in Simcoe, a real estate agent was trying to sell a 25 acre vacant hobby farm with a wind turbine behind it. He listed the lakeview property for about $149,000, expecting to sell it for about $135,000. Six months later he finally got an offer of $65,000. All seven potential buyers asked about the wind turbine.
Wind developer WPD Canada and a farm that signed a lease to host wind turbines are now both being sued. The claim seeks an injunction and $2 million in damages related to the proposed Fairview Wind Farm in Stayner.
Edward and Gail Kenney, retired civil servants who’ve lived on Wolfe Island for 48 years, are appealing their property tax assessments, set at $357,000, arguing that the 86 wind turbines erected around their home have driven down their property values and should be acknowledged in their tax bills.
CBC News has learned that already one bank in the Melancthon area is not allowing lines of credit to be secured by houses situated near wind turbines. In a letter to one family situated close to the turbines, the bank wrote, "we find your property a high risk and its future marketability may be jeopardized."