Articles filed under Property Values
In Tipton County, developers juwi Wind Energy say there's no data to support the contention that wind farms affect property values. But even the authors of the only comprehensive U.S. study on the subject, a 2009 U.S. Department of Energy-funded look at more than 7,000 properties near wind farms, weren't willing to go that far.
"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.
Industrial-scale energy projects on Bureau of Land Management lands are pushed through by energy companies touting jobs and economic booms to communities. Not mentioned is the potential loss of tourism revenues if people stop coming to recreational areas that are visually blighted.
"The wind turbines near residential areas are devastating to home values," McCann said. His firm has conducted more than 20 appraisals of homes near existing or proposed land-based wind turbines in more than two dozen communities across the country.
I spoke with the expert juwi had at the open house, Dr. Mark Thayer of San Diego State University. He admitted that the studies do not look at the number of turbines in proximity to the houses. It seems most houses have just a few within a 1-2 mile radius. According to the filed plans, there will be six or seven within a half-mile of us, 17 within 1 mile, and 35-37 within 2 miles! And we are not unique; many other homes around here are in the same boat.
In a decision believed to be the first time an Australian court has recognised the adverse financial impact of wind farms for neighbours, magistrate Kate Hughes ruled a property would be worth 17 per cent less if a 14-turbine facility were erected next door. For one part of the property, in regional Victoria, she accepted a 33 per cent fall in value was likely.
Woody Miller, a realtor at Coldwell Bank and Old Mill Properties in Bristol, said the Groton wind farm has likely already slowed the sale of one of his properties in neighboring Rumney. "I would argue that wind farms here will have a substantial effect on fair-market property values. If you eliminate even a few of the pool of potential buyers for a particular property, it hurts property sales and therefore values."
Mr Jelbart and his neighbours estimate the wind farm development will wipe $20 million from the value of nearby properties. "Our land is being used as a buffer zone for an industrial site," he said.
"Old King's Highway is about views and vistas as well as paint chips and shingle colors," she said. "I felt ARC had other options where to put the turbines." Austin said as the appellant she represents 92 people from Dennis and Yarmouth who formed an organization called Save Our Beaches in opposition to the proposed turbine.
Houses very close to wind farms drop in value because they are more difficult to sell and a significant rebate would be some compensation. Whether £400 and a reduction in fuel bills will be regarded as adequate remains to be seen and householders who complain that noise from turbines affects their wellbeing are unlikely to regard any payment as sufficient compensation.
The town of Lempster’s education taxes increased by $317,722 the year after the wind farm went online – although other economic variables may also have played a part in the increase. That cost, in addition to the $186,137 the town paid in additional county taxes after the wind farm arrived, means that Lempster residents have not experienced the windfall they may have hoped for. Richards says that while the town’s tax rates decreased for one year after the wind farm opened at the end of 2008, they rose above pre-wind mill rates the following year
The loss-of-value clause was passed by parliment in 2008 at the urging of Dansk Folkeparti (DF) and gave neighbours to wind turbines the opportunity to seek financial compensation for lost property value. Fifty-three percent of applicants have received compensation, but those that have had money awarded say the amount did not come close to reflecting the actual value.
What would happen if your home lost 40 percent or more of its value? This is the agonizing reality for residents and property owners in Chipmonk, Knapp Creek, the Four Mile and the Birch Run. ...Recently, the assessment rolls in Wolfe Island (on the St. Lawrence Seaway) were reduced by $3 million dollars because homes in close proximity to turbines lost value.
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.
A wind "farm" creates an easement in gross over neighboring, non-participating property that impairs value. Thus, it is tantamount to an "inverse condemnation", or regulatory taking of private property rights.....an uncompensated taking.
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
Anti-windfarm activists are claiming a victory after homes near turbines had their council tax bills cut. Campaigners in Cumbria are viewing the Government decision as a step towards an admission that wind turbines do affect properties and their value.
Concerned Lee County residents spent most of Wednesday night's wind hearing taking apart an appraiser's report.