Articles filed under Property Values
When J.T. bought his property in Calhan 16 years ago, he considered it a permanent move. In 2013, J.T. had his property appraised, so he could refinance it. The house appraised for $235,000, he said. The house today is appraised at $194,000, with no viable reasons for the decrease, except for one: the wind farm.
In Apex’s glossy brochure, the Wyoming County property that’s listed as having sold for $245,000 happens to have been mine. Apex conveniently left out the most important facts about the property: It was a 93-acre farm, sold for $245,000 on June 11, 2013, prior to completion of the 58-turbine Orangeville wind factory that was being constructed. The new owner subsequently broke up the property into three parcels ...The combined assessed value of the three parcels is now $205,000. That’s a $40,000 or nearly 20 percent loss of value after the Orangeville wind factory was built.
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.
A lawsuit regarding the 411-foot wind turbine in the North Kingstown Green subdivision off Ten Rod Road in North Kingstown has been dismissed.Under the terms of the agreement with the Newcombes, ...DePasquale’s (turbine owner) lawyer argued the Newcombes broke the terms of the contract when they discussed the terms of the settlement, the turbine and their displeasure with it with a potential buyer. It also was argued DePasquale “suffered damages including the loss of a potential purchase of the property.”
One of the concerns cited by homeowners is a sharp drop in home values that is caused by the aesthetics, noise pollution and related health effects. Neighbors reference instances where families have abandoned their homes after years of being unable to sell but the developers, Swanton Wind, points to academic and government studies reporting there is no evidence that wind farms damage home values.
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.
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.
A court ruled in the couples’ favor, confirming the proposed wind farm clearly had the possibility of impacting on both the future value and the buyers’ enjoyment of their new home. The solicitors were found to be negligent in failing to inform their clients about these plans and as a result the buyers received a substantial compensation settlement.
In a statement attacking the proposals, Bournemouth Tourism Management Board also said it was furious that EDF Energy, one of the backers of the Navitus Bay project, was “completely disregarding the environmental and consequential economic impact on the local area and refusing to compensate for the multi-million pound damage local businesses face”.
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 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.
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.