Library filed under Property Values
A green energy trade body has warned Scottish floating wind farm projects are at risk unless the UK Government makes a “simple, minor change”. Under current rules, floating wind power developers will not qualify for subsidies unless their projects start generating electricity by October.
Experts disagree about whether the introduction of wind turbines to an area has any impact on property values.
The U.S. House of Representatives passed the final Republican bill to overhaul the U.S. tax system in three decades, which would slash income taxes for corporates and individuals while widening American budget deficit and income inequality. (Dec. 19) AP
A landowner has the right to install a wind turbine or anything else on his property but he has the responsibility to make sure it doesn’t harm his neighbors. Scientific studies suggest that low-frequency noise from wind turbines, for example, may make people sick ...If that turns out to be true, the landowner should be forced to take steps to prevent such harm,
HINTON, Oklahoma - Homeowners in Western Oklahoma are divided over wind energy. While many property owners are leasing their land for wind turbines, others are trying to escape their shadow.
Invenergy's proposal to construct a controversial 1,000 MW natural gas-fired combined cycle facility in Burrillville, RI includes a mandate to offer a property value guarantee to abutting property owners. Invenergy is steadfast in refusing to offer the same agreement to neighbors of its wind energy power plants. A portion of the PVG approved by the Burrillville's town council is provided below. The full agreement can be accessed by selecting the links on this page.
Greer told attendees of a presentation he gave last week that it doesn't make fiscal sense for property owners to enter into agreements with the wind power industry. Payments to landowners through lease agreements are negligible, and the towering structures could make property unsalable should residents decide to move, he said.
HENDERSON HARBOR — Apex Clean Energy contends flawed methodology was used by a study that predicts impact of the proposed Galloo Island Wind Farm on property values in the town of Henderson.
Because Henderson wouldn’t receive any tax benefits from the wind project, its impact would be largely negative — especially for the value of waterfront properties. The analysis of property values in Henderson was based on a review of the impacts of the Wolfe Island Wind Farm on properties in Jefferson County, ...Based on the sale of 26 properties in Jefferson County with a view of the turbines on Wolfe Island, the analysis found that the value of the properties depreciated by about 15 percent after the wind farm became operational in 2009.
According to this newest study by researchers at North Carolina State University, an offshore wind farm erected off the coast of North Carolina would reduce coastal rentals and potentially harm tourism, even if the energy project was placed at a maximum distance from shore. The results of the study found 54 percent of survey participants would not be willing to rent a home if the turbines were visible at all, regardless of their distance from the coast. The abstract of the report is provided below. The full report can be accessed by clicking the links on this page. ,
An offshore wind farm erected off the coast of North Carolina would reduce coastal rentals and potentially harm tourism, even if the energy project was placed at a maximum distance from shore, a study by N.C. State University economists found.
McCann said he was hired to appraise a house in June 2011 in Mason County, Michigan, where representatives from the Lake Winds Energy Farm Project had been negotiating leases with property owners; however, they had not yet applied for permits with the county. ...A 476-foot turbine was built 1,139 feet from the residence, and the 56-turbine Lake Winds Energy Farm Project became fully operational in November 2012, McCann said. “After three years on the market and several price drops, this house ended up being sold for 40 percent of what it was originally worth,” he said.
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.
The Town of Henderson, New York, engaged the Nanos Clarkson Research Collaboration energy consultant team to assist in determining a series of impacts from the proposed Galloo Island wind farm development. The Galloo Island project plan proposes to construct up to 29 turbines with a total nameplate capacity of 102 MW. The turbines will stand 575 feet high, with blade lengths of 210 feet. The executive summary and key findings of the study are provided below. The full report can be accessed by clicking the links on this page.
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.