Articles filed under Property Values from USA
The neighbors in Swanton will be just over 2,000 feet to the proposed turbines, which is more than 1,000’ closer to the project than any homes on Georgia Mountain. The proposed turbines in Swanton are also nearly 60’ taller than the ones here. So I think it’s safe to say that they have a very valid reason to be worried about their property values.
A $19,600 study led by the Potsdam-based Clarkson University School of Business to research various impacts of the 31-turbine project was approved Wednesday by the Town Council. The study — to be expanded if more towns participate — will explore the potential impact of Albany-based Hudson Energy’s project on Henderson’s economy, waterfront viewshed and property values.
He also illustrated reasons for people to sell property with a turbine on or near it include health impacts. ...He said it’s [not] a “conspiracy theory” among neighbors when it comes to those health impacts, but he affirmed those events do occur. ...Property impact studies have been done throughout the world and one he described showed assessed values indicated a 20 percent deviation from assessed sale value.
The Wisconsin Realtors Association asked the state Supreme Court to invalidate a 2009 rule establishing setback requirements for building wind turbines near residential housing because, they said, it doesn’t go far enough.
The Sheffield Board of Civil Authority voted Wednesday evening not to reduce the assessed value of a Sheffield property owner's homestead, located next door to a Sheffield industrial wind farm.
The Oklahoma Tax Commission has said it expects to pay nearly $12 million to producers of renewable energy — mostly wind farms — in zero-emission tax credits this year. The commission projects those payments to swell to $19.1 million by 2018.
Using Oklahoma Tax Commission records, Rick Mosier, of the Oklahoma Property Rights Association, discussed the growth of Oklahoma zero-emission tax credits. These are awarded to wind power companies based on how much electricity they generate. More than $40 million of these credits were awarded in 2012. Beginning this year, qualifying companies can get paid 85 percent of the credit even with no tax liability.
The other major reason valuations have dropped, he said, is that some projects are not producing energy at the level they were expected to. "After they are operating for a few years you can see whether they are producing better or worse than expected." But, on the whole, production is less than predicted.
Before deliberating, the BCA in attendance agreed they should visit the Therrien property, preferably when the wind is blowing and the turbines are turning, to see firsthand the proximity of the towers to the property and to experience any disturbances created by the towers.
The county established the Utility Valuation Defense Fund as a response to what county officials said was a broad-based effort by utilities to challenge municipal assessments throughout New Hampshire. The situation is particularly acute in Coos County where the utilities appear to be “trying to pick off small towns one at a time,” through legal action that the towns are hard-pressed to respond to.
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.
McCafferty said there are multiple problems with wind farms -- such as the aesthetics and the noise associated with them. "People don't come to Vermont to look at wind farms and they don't come to Vermont to hear a lot of noise. So, these are direct impacts on the values," McCafferty said. Before the crowd departed for the night, Wright gave them one last message.
A bid to push along the town’s commitment to buy power from a proposed wind turbine project in Plymouth has stalled because the Board of Selectmen wants more information about the town’s costs and savings as well as the lawsuits surrounding the proposal.
In a study McCann did on Lee County, Ill., the average price per square foot for a home outside 2 miles of the wind project was $104.72. For those that were within 2 miles of the project the average sale price was $78.84 per square foot - a decline in value of approximately 25 percent. One couple that was part of a panel at Friday's forum - Scott and Melodie McLane from Georgia, Vt. - experienced the depreciation of the value their home first hand.
City officials said Portland has consistently grown at about 1.5-percent for the past 10-15 years, adding that they have done that by encouraging single-family home development ...However, they said that being so close to the wind turbines in nearby Taft will be the city's biggest challenge for further growth. "What we understand from talking to developers is that they are reluctant to build single-family subdivisions in the shadow of wind turbines."
In one case, as reported in the Sunday Free Press, the value of property was decreased by a whopping $50,000 from a price of nearly $410,000 because of proximity to a wind turbine. A homeowner saw a $700 reduction in the annual tax bill. Now that’s real cash gained because of financial harm — bona fide or perceived, it doesn’t matter. Though in terms of reducing enjoyment of property because of noise, altered views or flicking lights, this change is not exactly a favorable return on investment.
When Melodie McLane of Georgia used to drive by the wind turbines in Clinton, N.Y., she says, she always looked at them with wondrous curiosity. But now, after four industrial wind towers were built near her home on Georgia Mountain Road, she dreads them. 'I had no idea it would be this bad,' she says, describing a constant noise she says makes it hard to sleep or go outside.
The members unanimously agreed that the sound of the turbines-- any sound-- was enough. "It's a noise that's a constant sort of noise. I once described it as if you're on a coastline and way off in the distance, there's a freighter going by and you hear the engine going-- chug, chug, chug. That's the kind of noise that you experience," Vickers explained.
A national study that claims there is "no statistical evidence" that real estate prices near wind turbines are negatively impacted is misleading because it lumps homes close to the turbines with those miles away, according to Wind Wise Massachusetts. ..."Wind turbines near residential areas are devastating to home values," according to Michael McCann, president of McCann Appraisal of Chicago.
Acres got into heated arguments with Mary Solada, attorney for juwi Wind, and Tim Ochs, who was representing the leaseholders. Acres asked if juwi was going to argue against a property value guarantee, to which Solada said it was an option. "We're not going to consider testimony to eliminate the property value guarantee," Acres said.