Home Values
This web page was last modified June 27, 2012 at 5:12 PM.
This web page was last modified June 27, 2012 at 5:12 PM.
Home values are affected by many things, not least of which are so-called intangibles, such as a clean, peaceful environment and inviting cultural and social climates.
Funny thing. The original opinion from the village assessor (who's contracted by the village) was requested by the village clerk. There is a subsequent second, revised opinion which was solicited by an ethanol booster from the local Chamber of Commerce. The second opinion is a reversal of the first. The fellow from the Chamber convinced the assessor that a thermal oxidizer would solve all potential problems associated with an ethanol plant. That is an assumption that hasn't been borne out in the real world.
Cambria Assessor's Original Opinion of Likely Effect on Property Values (PDF file)
…it is my professional opinion that an ethanol plant would have more of a negative influence on property value.
Cambria Assessor's Original Opinion of Likely Effect on Property Values (Word document)
…it is my professional opinion that an ethanol plant would have more of a negative influence on property value.
The estimates imply that a one-unit reduction in suspended particulates results in a 0.7-1.5 percent increase in home values. In addition, it appears that air pollution regulations resulted in real economic benefits to home–owners in regulated counties.
PRINCETON, N.J. — More stringent air pollution control standards may cost jobs in some areas, but they also contribute to higher housing values, according to a study by a researcher at Princeton.
Traffic noise can have a significant effect on property value. A home located adjacent to a major highway may sell for 8% to 10% less when compared to one located along a quiet neighborhood street. 4 Heavy truck traffic lowers property value at a rate 150 times greater than cars.
Motor vehicle types, traffic volumes, and land development types surrounding roadways all play significant roles in estimating residential noise damage costs. Those responsible for transportation planning and policy making should be aware of the variations in these costs and the three primary factors that define them.
Noise is one of the most obvious and often–mentioned negative impacts of motor vehicle traffic. Traffic noise can discourage outdoor activities and make some locations undesirable for housing or other land uses that require quiet. People often justify moving or visiting rural areas by explaining that they enjoy the “peace and quiet.” Motor vehicles, and sometimes air traffic, are dominant sources of noise in many areas.