Wind Turbines Don’t Hurt Property Values

Wind Turbines Don’t Hurt Property Values

The Municipal Property Assessment Corporation (MPAC) has released a new report, again concluding that wind turbines do not adversely affect the value of nearby properties.

“MPAC commissioned this study of the effects of industrial wind turbines (IWT) on the current value of property in proximity to the turbines. Over the last few years, the subject of IWTs has been the subject of a number of reports and studies – both in Canada and worldwide. Past and current studies undertaken by both academics as well as real estate and health professionals have focused on the potential impacts of IWTs on property value and health.

Given MPAC’s legislated mandate, this report focuses on the potential impact of IWTs on property values.
MPAC’s study concludes that 2012 Current Value Assessments (CVA) of properties located within proximity to an IWT are assessed at their current value and are equitably assessed in relation to homes at greater distances.

No adjustments are required for 2012 CVAs. This finding is consistent with MPAC’s 2008 CVA report. The 2012 CVA study also found that there is no statistically significant impact on sale prices of residential properties in these market areas resulting from proximity to an IWT.

The study underwent a rigorous independent third-party peer review and includes appendices describing the study parameters and documenting the analyses.”

    By Dianne Saxe, Ontario Environmental Lawyer

Reprinted with permission from the Environmental Law and Litigation Blog.

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