scholarly journals Valuing bushfire risk to homeowners: Hedonic property values study in Queensland, Australia

2019 ◽  
Vol 63 ◽  
pp. 44-56 ◽  
Author(s):  
Wasantha Athukorala ◽  
Wade Martin ◽  
Clevo Wilson ◽  
Darshana Rajapaksa
Keyword(s):  
Property Values ◽  
Hedonic Property

scholarly journals Meta-Functional Transfer of Hedonic Property Values: Application to Great Lakes Areas of Concern

2010 ◽  
Vol 39 (1) ◽  
pp. 101-113 ◽  
Author(s):  
John B. Braden ◽  
Xia Feng ◽  
Luiz Freitas ◽  
DooHwan Won
Keyword(s):  
Great Lakes ◽  
Census Data ◽  
Meta Analysis ◽  
Property Values ◽  
Property Value ◽  
Hedonic Property ◽  
Areas Of Concern ◽  
The Cost ◽  
Home Values

This paper explores the use of functional benefits transfer to forecast the effects of waste sites on property values. The results of a meta-analysis of hedonic studies of waste sites are coupled with spatial analysis techniques to produce estimates of the effects of toxic contamination in Areas of Concern (AOCs) in the U.S. Great Lakes. Based on U.S. Census data for median home values, the methods used here suggest that approximately S5.2 billion (2005 dollars) have been lost in residential property values surrounding twenty-three of the AOCs. This compares to estimates that place the cost of remediation of all U.S. AOCs at up to $4.5 billion (2005 dollars). The case study also identifies issues surrounding the use of a meta-analysis with hedonic property value studies to support functional transfer.

scholarly journals Exotic Forest Insects and Residential Property Values

2006 ◽  
Vol 35 (1) ◽  
pp. 155-166 ◽  
Author(s):  
Thomas P. Holmes ◽  
Elizabeth A. Murphy ◽  
Kathleen P. Bell
Keyword(s):  
Property Values ◽  
Residential Property ◽  
Property Value ◽  
Negative Effects ◽  
Control Programs ◽  
Potential Control ◽  
Hemlock Decline ◽  
Hedonic Property ◽  
Residential Property Values

This paper presents a case study of the economic damages to homeowners in a northern New Jersey community due to an exotic forest insect—the hemlock woolly adelgid. Hedonic property value methods are used to estimate the effect of hemlock health on property values. A statistically significant relationship between hemlock health and residential property values is established. Moreover, there are some signs of spillover impacts from hemlock decline, as negative effects are realized on the parcels where the declining hemlock stands are located as well as on neighboring properties. These results give some indication of the benefits of potential control programs and strategies and also show support for community- or neighborhood-based programs in residential settings.

scholarly journals Evidence on the Amenity Value of Wetlands in a Rural Setting

2005 ◽  
Vol 37 (3) ◽  
pp. 589-602 ◽  
Author(s):  
Okmyung Bin ◽  
Stephen Polasky
Keyword(s):  
Urban Areas ◽  
Property Values ◽  
Rural Setting ◽  
Residential Property ◽  
Amenity Value ◽  
Property Price ◽  
Extensive Property ◽  
Hedonic Property ◽  
Wetland Inventory ◽  
Residential Property Values

This study uses a hedonic property price method to estimate how wetlands affect residential property values in a rural area. The study utilizes wetland inventory data coupled with extensive property sales records between January 2000 and September 2004 from Carteret County, NC. Our results indicate that i) a higher wetland percentage within a quarter mile of a property, ii) closer proximity to the nearest wetland, and iii) larger size of the nearest wetland are associated with lower residential property values. These results contrast with previous hedonic studies that use data from urban areas, which found positive associations between wetlands and property values. The amenity value of wetlands appears to depend at least as much on the characteristics of the area being considered as it does on the characteristics of the wetlands.

scholarly journals Valuing Historical and Open Space Amenities with Hedonic Property Valuation Models

2016 ◽  
Vol 45 (1) ◽  
pp. 44-67
Author(s):  
Robert L. Hicks ◽  
Bonnie M. Queen
Keyword(s):  
Open Space ◽  
Property Values ◽  
Nonmarket Valuation ◽  
Economic Benefits ◽  
Residential Property ◽  
Revealed Preferences ◽  
Property Valuation ◽  
Historic Areas ◽  
Hedonic Property ◽  
Statistical Effects

Impacts of historic and cultural amenities on property values and the economy have not been widely studied in part because of problems isolating statistical effects using nonmarket valuation and lack of study areas. Three jurisdictions in Virginia containing major historic sites provide a unique setting in which to isolate the effects of historical amenities on residential property values using revealed preferences and quantify their economic benefits. We find that historic areas provide both open space and historic amenities. Furthermore, being adjacent to a historical area is not a positive benefit on average, perhaps because of activity and congestion associated with tourism. Residing close to such areas is valuable to buyers.

Assessing Impact of Freshwater Lake Ecosystem on Residential Property Prices using Hedonic Property Pricing approach: Evidence from Vellayanilake of Kerala

2020 ◽  
pp. 125-130
Keyword(s):  
Economic Effect ◽  
Lake Ecosystem ◽  
Aesthetic Value ◽  
Market Prices ◽  
Scenic Beauty ◽  
Property Prices ◽  
Property Price ◽  
Valuation Technique ◽  
Hedonic Property ◽  
The Impact

ABSTRACT The ecosystem services provided by wetlands can be direct or indirect. The direct services can be mostly valued through market prices, but the indirect service like aesthetic beauty and its impact on property prices surrounding the natural resource cannot be directly measured. To single out the economic effect of particular amenity which influenced the land property prices, the advanced valuation technique Hedonic property pricing was most popularly used. In this study, it was attempted to assess using the hedonic property pricing technique, the impact of the presence of the freshwater body, the Vellayani Lake on land property prices surrounding it. The results revealed that the marginal implicit price of getting one cent of land with lake view evaluated at mean property price of Rs. 2,44250 was Rs.79171. The total aesthetic value of land with the scenic beauty of the lake was Rs. 275.92 crores.

The NWIMBY Effect (No Walmart in My Backyard): Big Box Stores and Residential Property Values

2009 ◽  
Author(s):  
Daniel K. N. Johnson ◽  
Kristina M. Lybecker ◽  
Nicole Gurley ◽  
Alex Stiller-Shulman ◽  
Stephen Fischer
Keyword(s):  
Property Values ◽  
Residential Property ◽  
Big Box ◽  
Residential Property Values

CRITICAL DETERMINANTS OF HERITAGE PROPERTY VALUE: A CONCEPTUAL FRAMEWORK

2019 ◽  
Vol 17 (9) ◽  
Author(s):  
Normayuni Mat Zin ◽  
Suriatini Ismail ◽  
Junainah Mohamad ◽  
Nurul Hana Adi Maimun ◽  
Fatin Afiqah Md. Azmi
Keyword(s):  
Real Estate ◽  
Conceptual Framework ◽  
Structural Characteristics ◽  
Property Values ◽  
Property Value ◽  
Architectural Styles ◽  
Online Databases ◽  
The Status ◽  
Conference Papers ◽  
Published Research

Real estate is complex in nature, whereby its value is determined by many characteristics. Heritage property is different as compared with non-heritage property, thus; it is essential to identify the heritage property value determinants due to limited published research about it. This paper closes the gap by reviewing the literature to identify the determinants. To achieve this, academic journals and conference papers in online databases from 1974 to 2017 have been reviewed. The results indicated that there are four groups of heritage property value determinants namely; i) transaction characteristics, ii) structural characteristics, iii) spatial characteristics, and iv) historical characteristics. It can be concluded that heritage property values are differentiated by historical characteristics notably on their architectural styles or design and the status of the heritage property itself. This finding should be a useful guidance for the valuers in valuation practice.

The Relation between Business Property Values and Local Property Taxes

2014 ◽  
Vol 37 (1) ◽  
pp. 103-128 ◽  
Author(s):  
Kimberly G. Key ◽  
Teresa A. Lightner
Keyword(s):  
Property Values ◽  
Local Property ◽  
Property Taxes ◽  
Tax Revenue ◽  
Industrial Property ◽  
Business Taxes ◽  
Trade Offs ◽  
Property Owners ◽  
Capital Tax ◽  
Business Property

ABSTRACT This study examines the relation between commercial and industrial property values and local property taxes using 1999 to 2009 data for the state of Georgia. Results show a negative relation between commercial values and property taxes, consistent with the new view of capital tax prediction that these taxes are borne, at least in part, by property owners. Incidence estimates show very high to full capitalization. There is little evidence of a relation between industrial property values and property taxes, contrary to prior research. This study is the first to provide empirical evidence of differences in commercial and industrial property tax incidence. The study contributes to the understanding of the capitalization of business taxes, which has been the subject of very little prior research. The results can inform policymakers who consider trade-offs in tax revenue needs, economic development, and issues of fairness in their localities.

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