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DOES SMALL DAM REMOVAL AFFECT LOCAL PROPERTY VALUES? AN EMPIRICAL ANALYSIS
Author(s) -
PROVENCHER BILL,
SARAKINOS HELEN,
MEYER TANYA
Publication year - 2008
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/j.1465-7287.2008.00107.x
Subject(s) - property value , residential property , streams , shore , property (philosophy) , environmental science , small town , hydrology (agriculture) , geography , business , geology , economics , geotechnical engineering , real estate , economic geography , finance , computer network , philosophy , oceanography , epistemology , socioeconomics , computer science
This paper uses hedonic analysis to examine the impact of small dam removal on property values in south‐central Wisconsin. Data on residential property sales were obtained for three categories of sites: those where a small dam remains intact, those where a small dam was removed, and those where a river or stream has been free‐flowing for at least 20 yr. The primary conclusions that emerge from the data are that shoreline frontage along small impoundments confers no increase in residential property value compared to frontage along free‐flowing streams and that nonfrontage residential property located in the vicinity of a free‐flowing stream is more valuable than similar nonfrontage property in the vicinity of a small impoundment. ( JEL Q2, Q25, Q5, Q51)