Property Values
Myth: The Beech Ridge Wind Farm will adversely affect property values across the Williamsburg and Trout areas.
Fact: There is simply no credible evidence to support this claim. The only comprehensive study on the impact of wind turbines on property values, called “The Effect of Wind Development on Local Property Values," prepared by the Renewable Energy Policy Project, found that:
"The statistical evidence does not support a contention that property values within the view shed of wind development suffer or perform poorer than in a comparable region… For the great majority of the projects … the property values in the view shed actually go up faster than values in the comparable region.”
Click here to view the REPP study.
In addition, a nationwide survey of tax assessors in areas with wind power projects found that the wind power projects did not negatively impact property values. [ECONorthwest, “Economic Impacts of Wind Power in Kittitas County,” November 2002]
According to this survey, the Town of Lincoln, Wisconsin reported:
"When the turbines were first installed, residents complained about the diminished view. However, in the three years since installation, residents have become used to them, and no one complains now. One homeowner had claimed that the assessed value of his property should be reduced because of the wind turbines. The County asked him to show that the value of sales of properties near the turbines had diminished, and he was unable to do so."
To investigate further the potential impacts on property values, Lincoln’s assessor compared the 2001 assessed value to actual sales … and found that the ratio of assessed values to actual sales prices for properties less than one mile from the wind turbines was no greater than for properties more than a mile from the wind turbines.
[www.catenergy.com/pdf%20files/Kittitas%20Wind%20final.pdf?mm=4]
"No property values have gone down due to the windmills. I can tell you that.”
[Josie Kilbride, Town Clerk and Lister in the Town of Searsburg, VT]
"Property values in Wilmington, Dover and Whitingham have not decreased due to the wind turbines in Searsburg. Any concerns about visual impacts never came to fruition. Property values remain very high.”
[Paul Kasinoff, Real Estate Broker, Century 21 Carriage Realty of Dover, VT and Wilmington Selectman.www.hoosacwind.com/qa.html]
In fact, looking at West Virginia’s experience with wind power already, in Tucker County, relatively close to the Canaan Valley Resort, where the value of Canaan Valley condo units with a view of the Mountaineer Wind Project has tripled in the past few years.
Beech Ridge Energy has done its best to be sensitive to the residents of this rural area. It is Beech Ridge Energy’s goal to keep a minimum distance of one mile from any turbine to any residence. Although some turbines may be closer, they will still be roughly three-quarters of a mile away – a distance that should mitigate any potential isolated negative impacts on property values for those few residences located closest to the Project.
