UNDESIRABLE FACILITIES AND PROPERTY-VALUES - A SUMMARY OF EMPIRICAL-STUDIES

Undesirable land uses are expected to impose health or amenity risks o n surrounding communities. These risks are expected to be translated e conomically into negative effects on adjacent property values. These n egative effects may be present even when such uses possess offsetting advantages of proximity, such as employment opportunities. The purpose of this study is to summarize empirical studies completed to date tha t test whether undesirable land uses have observable negative effects on adjacent property values. This information may be useful in assessi ng minimum valuations of terminating undesirable land uses, such as cl ean-up of hazardous sites, or compensation necessary to ameliorate the economic impacts of new undesirable uses. (C) 1998 Elsevier Science B .V.