Analysis of the Effects of Contamination by a Creosote Plant on Property ValuesAppraisal Journal (2005)
AbstractThis 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.
Publication DateWinter 2005
Citation InformationDouglas S. Bible, Chengho Hsieh, Gary Joiner, Chuo-Hsuan Lee, et al.. "Analysis of the Effects of Contamination by a Creosote Plant on Property Values" Appraisal Journal Vol. 73 Iss. 1 (2005)
Available at: http://works.bepress.com/chuo-hsuan_lee/12/