Articles filed under Property Values
Corey Lang, associate professor of natural resource economics, and doctoral student Vasundhara Gaur found that prices of homes within a mile of a solar installation declined by 1.7%. Homes within a tenth of a mile went down by 7%. ...“In those non-rural areas there aren’t many large blocks of farmland or forestland,” Lang said. “It’s a scarce resource. When that’s developed into solar, it’s felt by the community. You’re losing green space and also adding an industrial viewscape.”
The county already is bound to protect farmers’ and ranchers’ property rights.There are others, however, who see tighter land use regulations as a way of protecting their property rights. That was made clear when NextEra Energy’s Niyol Wind Farm near Fleming ran into serious opposition from landowners in the area who saw the wind farm as damaging their property values.
There were 14 residential properties within two kilometres of the site and three in particular were likely to experience overbearing impacts.The fact that the turbines would be widely and evenly spaced would serve to emphasise their dominating impact, she opined. Therefore, although none of the owners had a right to a view, their amenity would be significantly compromised and the ability to generate up to 15MW of electricity per year did not outweigh the harm.
JEFFERSON CITY — Missouri residents spoke out about the potential of having their property taken for power line projects like the Grain Belt Express during a recent House hearing.
A Melancthon family is taking Dufferin Wind Power Inc. to court over allegations that the hydro transmission lines have affected their quality of life. The case is set to go before the Local Planning Appeal Tribunal in the spring, after expert reports have been filed for both sides.
The board’s five-member zoning committee drafted a proposed revision to the county’s ordinance regulating wind farms last Friday in order to protect the value of non-participating landowners’ property. Under the proposal, before a special-use permit is issued for a wind farm, the owner/operator of the wind farm must guarantee to pay the difference if any non-participating property within two miles of the wind farm ends up being sold for less than its fair cash value or assessed value.
A study by the RWI - Leibniz Institute for Economic Research shows that wind turbines can lead to falling prices of single family homes in the immediate vicinity. The value of a house one kilometer away from a wind turbine drops on average by a good 7 percent. For the study, the RWI has evaluated almost 3 million sales offers
This study also addresses underlying reasons for the lack of consensus across related studies in other jurisdictions. There are a number of potential contributing factors, including the possibility that differences in attitudes toward wind energy may influence the likelihood of property value impacts. Areas with greater opposition to wind energy development may be more likely to experience negative impacts on property values. I examined the degree to which differences in attitudes influenced property values in Ontario.
The lawsuit filed by the appraisal district asks the judge “cancel and set aside the decision of the appraisal review board” and that “an order be entered fixing, in accordance with the law, the market value of the (wind farm), as required by law.”
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.
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.
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.