Library filed under Property Values from USA

Property value impact of the proposed Northern Pass transmission line

Sci_adan_41211_(1)_thumb The Northern Pass transmission line, if built, will carry 1200 MW of renewable energy from Canada to New England. The proposed transmission has set off a firestorm of opposition in New Hampshire where the line will bisect the state and travel through sensitive land areas. The debate concerning property value impacts is similar to the that involving wind turbines. Residents in New Hampshire commissioned two studies, a Resources Impact Report and an Appraisal Report, which looked at how the power line will impact their property. A summary of the two reports is excerpted below. Both reports can be accessed by clicking on the link at the bottom of this page.
12 Apr 2012

Property value losses near wind turbines greater than previously thought, appraisers say

The current study, released in July of 2011 by the Economic Financial Studies School of Business at Clarkson University, cites losses of up to 40 percent on properties located within 0.10 miles of new wind turbine facilities. This has prompted him to revise his loss figure upward to a maximum of 40 percent and expected adverse impacts out to three miles, with effects becoming less extreme with distance.
30 Mar 2012

Property value losses near wind turbines greater than previously thought, appraisers say

The current study, released in July of 2011 by the Economic Financial Studies School of Business at Clarkson University, cites losses of up to 40 percent on properties located within 0.10 miles of new wind turbine facilities. This has prompted him to revise his loss figure upward to a maximum of 40 percent and expected adverse impacts out to three miles, with effects becoming less extreme with distance.
30 Mar 2012

Study hints at cost of wind development

"Nearby homeowners, however, do not generally receive any direct compensation, and it is possible that PILOT payments are not completely making up for losses dealt to this group," he continued. "So, it may be necessary to develop other schemes which would compensate these affected parties."
3 Aug 2011

Values in the Wind: A Hedonic Analysis of Wind Power Facilities

Heintzelmantuttlehedonic_thumb This paper uses data on 11,331 property transactions over 9 years in Northern New York to explore the eff ects of new wind facilities on property values. The authors use a fixed effects framework to control for omitted variables and endogeneity biases. They found that nearby wind facilities signi cantly reduce property values in two of the three counties studied. The results indicate that existing compensation to local homeowners/communities may not be sufficient to prevent a loss of property values. The conclusions of the report are provided below. The full paper can be accessed by clicking on the link a t the bottom of this page.
16 Jul 2011

Wind power's effects gauged

"After completing my review of the subject location, it is clear that numerous homes in the Cape Vincent area will be adversely impacted, and the best available evidence indicates that value loss of 25 to 40 percent or more will occur to homes within approximately two miles of the turbines."
27 Jun 2011

Wind project foes cite impact on property values

"Industrial-style wind turbines change the essential character of the area," McCann told a packed room, which included residents of Bourne and Falmouth who are also dealing with wind turbine projects. He estimated $70 million to $112 million in market value could be lost in the town, based on the number of homes that could be affected.
24 Mar 2011

Property values and health impaired by wind turbines, experts tell East County residents

Both McCann and Krogh said that a number of turbine neighbors had walked away from their homes, because they could not live with the impacts and no one would buy their homes. Others must find someplace away from the turbines to sleep and many have had to send their children to live with relatives to clear up various illnesses.
28 Jan 2011

Hammond panel adopts home guarantee

The committee voted 9 to 1 Tuesday evening - with committee member and leaseholder, Michele W. McQueer, casting the lone dissenting vote - to adopt the controversial Residential Property Value Guarantee (RPVG) as a suggestion to the town board. In a recent letter from Iberdrola Renewables to the committee, Mark Epstein, Esq., senior counsel, wrote, "We believe that if the Committee chooses to pursue the RPVG, it will prevent any development of windpower facilities in Hammond."
30 Dec 2010

Hammond wind panel OKs property guarantee

The town's Wind Committee voted 9-1 Tuesday evening to adopt the controversial Residential Property Value Guarantee and move it on to the Town Council as part of its proposed wind zoning law. ...With the move, the committee appears to have taken direct aim at the company most interested in locating a wind farm in Hammond.
30 Dec 2010

Hammond property value protection agreement

Residential_property_value_guarantee_agreement_-_town_of_hammond_wind_law_recommendation_-_122810_thumb The Town of Hammond in New York is working to amend its wind law to require developers siting wind turbines within two miles of a property to sign a value guarantee agreement that would ensure property owners are appropriately compensated should they experience a decrease in value due to the turbines.
28 Dec 2010

Iberdrola threatens to pull project

The board is considering a law proposed by the town's wind committee that would require Iberdrola Renewables to compensate property owners who see drops in their land values because of the presence of wind turbines. The proposal also requires the company to buy out any property owner who objects to living near a turbine.
13 Dec 2010

http://www.windaction.org/posts?location=USA&p=4&topic=Property+Values
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