and Transmission Lines: Impacts on Property Values

was written is property valuers, that is, real estate appraisers and others responsible for estimating the value of real property. The goal was to provide these specialists with a practical reference that would be help-ful to them in understanding and analyzing the effects that nearby electric transmission lines, cell phone towers and wind farms might have on the value of prop-erties they are asked to appraise. The authors indicate that given the unsubstantiated and overblown assertions that are often made about the potential property value effects of these classes of facilities, it was particularly important for them to “...examine the facts as they re-late to property values in an unbiased and rational way, giving a balanced view... ” (p. 34). To achieve this ob-jective, the authors begin with a chapter that provides an overview of the methods used to determine property value effects (sales comparisons, regression analysis, hedonic modeling, spatial hedonic modeling and quali-tative analysis and triangulation). This is followed by a very strong chapter that reviews the theory and research findings related to risk perception, stigma and behavior, with a focus on the relationship of this body of theory and knowledge to property value issues. The remainder of the book consists of a set of three sections that pro-vide an overview of the potential property value issues associated with transmission lines, cell towers and wind farms, and a summary of the empirical research that has been undertaken in an effort to tie down the effects that these three facility types have had on the actual sales prices of properties in their vicinity. A conclusions chapter provides a systematic recap of the issues and re-search findings. The conclusions chapter ends with a brief discussion about the current state of knowledge and the implications of this knowledge for the approach that property value practitioners need to take when they prepare appraisals for properties located near these facilities