DO HIGH-VOLTAGE ELECTRIC TRANSMISSION-LINES AFFECT PROPERTY VALUE

This paper empirically analyzes the impact of high voltage (defined as 69,000 volts or greater) electric transmission fines on the prices of nearby single detached houses. The study demonstrates the importance of using the correct function specification and correcting for (common ly found) heteroscedasticity. We find the electric transmission lines do have an effect on property value, but such effects are restricted t o a narrow band and are primarily due to the visual externalities of t he transmission towers. (JEL Q24, R14)