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PERCEIVED WATER QUALITY AND THE VALUE OF SEASONAL HOMES 1
Author(s) -
Young C. Edwin
Publication year - 1984
Publication title -
jawra journal of the american water resources association
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.957
H-Index - 105
eISSN - 1752-1688
pISSN - 1093-474X
DOI - 10.1111/j.1752-1688.1984.tb04666.x
Subject(s) - bay , environmental science , water quality , property value , hydrology (agriculture) , value (mathematics) , geography , oceanography , mathematics , geology , statistics , ecology , business , geotechnical engineering , real estate , finance , biology
The impact of degraded water quality on the value of seasonal homes adjacent to St. Albans Bay on Lake Champaign in northern Vermont is estimated using hedonic price functions. The Value of properties located adjacent to the bay are depressed by about 20 percent, or $4,500 on average, compared with similar nearby properties on the larger but cleaner lake. Water quality degradation resulted in decressed property values of approximately two million dollars in the area surrounding the Bay.