The Impact of Wind Power Projects on Residential Property Values ...

ural landscapes, with the largest portion being residential homes in the towns or immediately on
their outskirts. <strong>The</strong> topography, although falling away from the location <strong>of</strong> the wind facility,
does not do so dramatically, so small obstructions can obscure the views <strong>of</strong> the facility.
Data Collection and Summary
Data were obtained from both Madison and Oneida Counties for this study area. In Madison
County, Kevin Orr, Mike Ellis, and Carol Brophy, all <strong>of</strong> County’s Real Property Tax Services
Department, were extremely helpful in obtaining the sales, home characteristic, and GIS data. In
Oneida County, Jeff Quackenbush and Richard Reichert in the Planning Department were very
helpful in obtaining the county data. Additionally, discussions with real estate brokers Susanne
Martin <strong>of</strong> Martin Real Estate, Nancy Proctor <strong>of</strong> Prudential, and Joel Arsenault <strong>of</strong> Century 21
helped explain the housing market and the differences between Madison and Oneida Counties.
Data on 463 valid sales transactions <strong>of</strong> single family residential homes that occurred between
1996 and 2006 were obtained, all <strong>of</strong> which were located within seven miles <strong>of</strong> the wind facility.
<strong>The</strong>se sales ranged in price from $13,000 to $380,000, with a mean <strong>of</strong> $98,420. Roughly 75% (n
= 346) <strong>of</strong> these sales occurred after construction commenced on the wind facility, <strong>of</strong> which 20
could see the turbines, all <strong>of</strong> which were rated as having MINOR views, except one which had a
MODERATE rating; only two sales involved homes that were situated inside <strong>of</strong> one mile.
Area Statistics
Study Period Study Period Number <strong>of</strong> Median Mean Minimum Maximum
Begin End Sales Price Price Price Price
1/6/1996 12/26/2006 463 $77,500 $98,420 $13,000 $380,000
Facility Statistics
Facility Name
Number <strong>of</strong>
MW
Number <strong>of</strong>
Turbines
Announce
Date
Construction
Begin Date
Completion
Date
Turbine
Maker
Hub Height
(Meters)
Madison <strong>Wind</strong>power 11.6 7 Jan-00 May-00 Sep-00 Vestas 67
Source: AWEA & Ventyx Inc.
Variables <strong>of</strong> Interest Statistics
Development Period
Pre
Announcement
Post Announcement
Pre Construction
1st Year After
Construction
2nd Year After
Construction
2+ Years After
Construction
Total
Madison/Oneida, NY (MYMCOC) 108 9 48 30 268 463
View <strong>of</strong> Turbines
Pre
Construction
None Minor Moderate Substantial Extreme Total
Madison/Oneida, NY (MYMCOC) 117 326 19 1 0 0 463
Distance to
Nearest Turbine
Pre
Construction
< 0.57 Miles 0.57 - 1 Miles 1 - 3 Miles 3 - 5 Miles > 5 Miles Total
Madison/Oneida, NY (MYMCOC) 117 1 1 80 193 71 463
109