Morning Read: Wind farm impact on property values debated
The Watertown Daily Times is reporting that a Chicago-based appraiser finds that a new wind farm planned near Cape Vincent could cause some homeowners to see their property values drop by as much as forty percent.
“After completing my review of the subject location, it is clear that numerous homes in the Cape Vincent area will be adversely impacted, and the best available evidence indicates that value loss of 25 to 40 percent or more will occur to homes within approximately two miles of the turbines,” principal Michael S. McCann wrote.
This study is the latest salvo in the long-running debate over the economic and environmental impacts of wind farms in the North Country. Wind advocates told the Times they were skeptical about the findings.
“The studies that we have seen have reported pretty much across the board insignificant property value decrease,” said Dawn M. Munk, a Three Mile Bay member of Voters for Wind. “And in those cases where there was a decrease in property value, it was usually before the installation of the wind farm or immediately thereafter. Then, property values went back up very quickly.”
Read the full article here. Comments welcome below.
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This only further proves the idea that if you keep looking, you’ll find the data that supports your point of view.
What this proves is the obvious. Be it wind farm, coal burning power plant, nuclear power plant, a noisy super highway and so many other things too numerous to mention, many things can lower property values for those who are closest to what is constructed.
There are pluses and minuses to everything. There is no such thing as a win/win for everyone.
You don’t need to be wild eyed environmentalist to be opposed to a wind farm if you are the one who lives close to it and aren’t getting paid by the wind company.