Library filed under Property Values from Wisconsin
Experts disagree about whether the introduction of wind turbines to an area has any impact on property values.
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.
After two months of regular meetings, the wind siting council recently completed a report containing various recommendations and submitted it to the PSC for approval. The report is controversial and many critics maintain that the interests of neighboring property owners are not adequately protected due to the makeup of the council, which was weighted in favor of wind energy interests.
A task force is recommending that wind farm developers in Wisconsin offer to make payments to homeowners who live near the projects. That recommendation is among the proposals forwarded to the state Public Service Commission by a wind turbine site advisory council that has been meeting since March.
The attorney representing two Oakfield residents in a case against Chicago-based Invenergy LLC wants the results of a sheriff's sale this week. ...The property, appraised at $320,000 in 2007, sold to the Bank of New York Mellon at a sheriff's sale Tuesday for $106,740.
In the years since the Forward Wind Energy Center came on line, "For Sale" signs have popped up all over Gerry Meyer's rural neighborhood in the town of Byron. ...Meyer is convinced that the aesthetically displeasing look of the 400-foot turbines and subsequent ill effects experienced by nearby residents from the noise, vibration and light-flicker has caused housing values to plummet.
Land values have fallen on properties near wind turbines built as part of the largest wind power projects in the state, a study funded by wind-power critics says. The study found property values have fallen by at least 19% for sales of land near the We Energies wind farm in Fond du Lac County, and at least 12% for sales of land near Invenergy LLC's Forward Wind project in Fond du Lac and Dodge counties, a report by Appraisal Group One says.
Cistercian nuns are moving from Prairie du Sac, but a site for a new monastery in the Town of Ridgeville is no longer one of several considered by the religious community. According to Sister Roberta Boyer ...the Ridgeville site, land owned by Ryszard Borys, was taken off the table because of the wind farm situation in the township.
That’s about 20 percent of your electric bill coming back to Invenergy in the form of tax credit from your federal tax dollars.
Ryszard Borys is an Illinois realtor who owns 200 acres that neighbors the Wallerman dairy operation. The Denmark native said he is very familiar with wind farm technology from that country. He shared Fries’ concern over lost land values and the negative impact for agri-tourism. “You have to make the choice between a wind farm or tourism and recreation,” Borys said.
Q. Even considering all of those factors or weaknesses, what is your conclusion regarding the impact on residential property values from the proposed project? A. Under certain circumstances as described in my report, the negative impact may be similar. Also, in significant view loss situations, as described in my report, I would conclude that, within a reasonable degree of professional certainty, land values may be negatively impacted 17% - 20%. Editor's Note: Mr. Zarem argues that the appropriate methodology for estimating the 'view' impact of industrial wind turbines on property values is 'paired data analysis'- defined in the The Dictionary of Real Estate Appraisal as: “A quantitative technique used to identify and measure adjustments to the sale prices or rents of comparable properties; to apply this technique, sales or rental data on nearly identical properties are analyzed to isolate a single characteristic’s effect on value or rent.” In the absence of relevant view/turbine data, he derived an alternative paired data analysis for determining view impacts on property values due to wind turbines from Transmission Line view impacts on the prices of single-family residential lots in subdivisions...as...sufficient paired data isolating the effects of view loss due to Transmission Lines exist in the marketplace to reach reasonable conclusions as to market tendencies. This data isolates impacts due to view loss associated with Transmission Lines.
Excerpts of the report are provide here. The full report is also available by clicking the documennt link on this page.at the bottom of this page. After the wind turbines went online in Kewaunee County, Wisconsin, the Lincoln Township Board of Supervisors approved a moratorium on new turbine construction. The purpose of the moratorium was to delay new construction of wind turbines for eighteen months, giving the township the opportunity to assess the impacts of the turbines installed by Wisconsin Public Service Corporation (WPSC) and Madison Gas and Electric (MG&E), which went online in June 1999.
I am sure FPL Energy and Foley & Lardner will malign this evidence just as they have maligned everything else we have ever said or done. Let them bring on the proof that can convince you that our property values and indeed the tax base of the entire town will not decline if this project were to be built. If FPL Energy and its advocates cannot prove this important fact—then I believe the Plan Commission has a duty to protect all of us, our investments in our homes and property, the Town’s tax base and our future by DENYING FPL Energy’s request for a Conditional Use Permit.