|
|
Article: Analysis of the effects of contamination by a creosote plant on property values.
- Article from:
- Appraisal Journal
- Article date:
- January 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 The Appraisal Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
abstract
This article examines how an environmental hazard affects home values. It uses a geographic information system to obtain the straight-line distance (in feet) from the nearest source of contamination to the homesite to measure how the pollution problem affects home values in terms of distance. In addition, this article examines how home values change before and after remediation efforts. The results confirm that homes closer to the problem area suffer a greater loss. Also, the revelation of a contamination problem decreases home values, while a cleanup of the contamination has the reverse effect.
**********
This article examines how an ...