Cause and Effect Patterns of Noxious Facility Impacts on Property Values
AbstractNoxious facilities generate different types and levels of impacts that may reduce residential property values. Highly controversial facilities do not consistently cause significant property value impacts while some common, less objectionable facilities do. the research issue is to test which impacts and cause-effect connections result in consistent and significant property value impacts. Typical physical, psychological, and trigger impacts, and local benefits of ten categories of noxious facilities are evaluated based on the consistency of resulting property value impacts. Nuclear power plants, waste facilities, buildings, electrical power plants, and transmission lines cause inconsistent property value impacts. These facilities are characterized by multiple and complex physical and socio-economic impacts, and medium to high perceived risks. Airports, highways, air pollution and visibility impacts, and natural hazards consistently cause significant property value effects. These facilities create single, observable physical impacts and give rise to low risk perceptions. Better descriptions of facilities and impacts must be provided in future studies to identify and mitigate key causal impacts and connections.
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