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Posts Tagged ‘property values wind farms NY’

One of the most preposterous claims from the wind power generation lobby is that there is no effect on property values for neighbouring properties when a wind power generation project is built nearby. They still claim that even though in Ontario, there is a question on the Ontario Real Estate Association’s Seller’s Property Information Sheet or SPIS that asks about plans for wind energy development projects, in the same line as garbage dumps and quarries. Sounds like a positive influence on value to us!!

The question has to be asked then, what will the effect be for Ontario of the rolling decline of property values throughout this province due to wind turbine projects? In the case of North Gower, using the Luxemburger model (which is now thought to be conservative) the $20-million “green energy” project will actually cost the community $45 million in lost property value.

But don’t take our word for it. Here’s a news story about a new study on property values, from the U.S. Note the property value effect is seen at a distance of THREE MILES. How is that going to work for Ontario’s future, Messrs McGuinty, Wilkinson, and Duguid and Mme Pupatello?

Study finds wind turbines can sometimes be tough on neighbors’ property values

Published: Wednesday, July 06, 2011, 9:31 AM Updated: Wednesday, July 06, 2011, 11:00 AM

By Charles McChesney / The Post-StandardThe Post-Standard

Stephen D. Cannerelli / The Post-StandardLarge wind turbines cover the hillside in the Madison County town of Stockbridge in 2010.

Potsdam, NY — Wind farms reduced the value of nearby real estate in two Northern New York counties, but not in a third.

Martin D. Heintzelman and Carrie M. Tuttle, of Clarkson University, studied 11,331 real estate transactions over nine years and found that the value of property near wind turbines dropped in Clinton and Franklin counties. But they found no impact in Lewis County.

The paper they produced, “Values in the Wind: A Hedonic Analysis of WindPower Facilities,” hasn’t been finalized, Heintzelman said, but an earlier version has been shared by opponents of wind farms. (Hedonic is a economic term referring to estimating value or utility).

A March version of the paper, distributed by opponents of a wind-farm proposal for Cape Vincent in Jefferson County, found an overall decrease in values among properties neighboring wind turbines in Clinton, Franklin and Lewis counties.

But Heintzelman said the research was reviewed, and combining the counties, it turned out, “was not a reasonable approach.”

The refined findings are, he said, “somewhat more nuanced.”

Heintzelman said past research, including a study of Madison County, showed wind farms had little or no impact on real estate values. But he found that hard to believe.

“Anytime you put a large industrial or manufacturing facility in someone’s backyard,” he said, there is bound to be some impact.

So he and Tuttle, a graduate student, statistically analyzed real estate data, mostly from the state Office of Real Property Services.

They found that placing a wind turbine a half mile from the average property in Franklin or Clinton counties would result in a loss of property value of $10,793 to $19,046. The impact drops off as properties become more distant, he said. At the distance of three miles, the impact is $2,500 to $9,800.

But Lewis County, with the 321-megawatt Maple Ridge Wind Farm, was different. “Lewis County does not see negative impacts,” Heintzelman said.

Asked whether the study’s findings hold lessons for communities weighing wind-power projects, Heintzelman said it could be worth considering how those who have wind turbines near, but not on, their property might be compensated if they see their real estate drop in value.

Other than that, he said, “Sadly, no, I don’t think I have any specific advice.”

Contact us at northgowerwindactiongroup@yahoo.ca

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