Do wind projects adversely affect proximate residential property values?
The most basic law of economics is that things are valued based on the “Law of Supply and Demand.” It is exceedingly obvious, all things being equal, that many people (due to view, sound, flicker, etc) would choose NOT to buy a home where there are wind turbines close by. (Whether they are right or wrong in their reasons is irrelevant.)
These beliefs would reduce demand, which clearly would have some negative impact on the price of such a property. The only real question is how much of an impact?
Click here for numerous articles from across the USA and around the globe.
Wind Turbine Impact Study — Wisconsin 2009
From National Wind Watch:
This is a study of the impact that wind turbines have on residential property values. Appraisal Group One is an appraisal company specializing in forensic appraisal, eminent domain, stigmatized properties and valuation research.
Read entire report here (73 pages)
The No-Build Zone on Your Own Property
From National Wind Watch:
Depending on the setback requirement, the safety zone – the circle around a turbine in which no dwelling can be built – may encroach his neighbors land. It becomes, whether he consents or not, a no-build zone.
Read the article at National Wind Watch.
The McCann Aappraisal – Wind Turbine Setbacks and Property Values
From National Wind Watch:
Written testimony prepared by Michael McCann for the Adams County Board, Quincy, IL, June, 2010. “Industrial scale wind energy projects are intensive, large-scale projects with a decidedly industrial character, and most . . . . are proposed to “overlay” existing mixed-use residential and agricultural areas. It is virtually impossible to introduce such a large scale project among existing low intensity residential uses without dramatically changing the character of the neighborhoods that will be encompassed by the turbine’s land use overlay.”
Click here for a short summary.
To read the entire 82-page document, click here.
Know the facts before you sign…
From National Wind Watch:
“At present time, anecdotal data indicates that wind turbines have a depressing effect on nearby land values and are a drag on the ag real estate market. Most recent anecdotal data from Illinois indicates that assessed value on farmland is dropping approximately 22 – 30 percent on farmland that is near land where wind turbines have been placed.” –Source: Iowa State University Center for Agricultural Law and Taxation, “Wind Energy Production: Legal Issues and Related Liability Concerns for Landowners in Iowa and Across the Nation”
Read the article at National Wind Watch.
Life under a wind turbine? See "WINDFALL", Sat Mar 10 & Sat Mar 17, 2pm. Peabody Library auditorium, Columbia City, IN.- Infrasound and Adverse Health Effects link #noise #setbacks
- New page: Gallery link
- Tax dollars backing some "risky" energy projects link #bankruptcy #stimulus #subsidies