McCann Appraisal, LLC is a real estate appraiser with extensive professional experience regarding unintended consequences of the PTC.
It is a fact that many wind energy projects, large and small, are being sited too close to residential property and the homeowners, and is causing not only aesthetic impacts, but noise, sleep disruption and other nuisances for a large percentage of people living within approximately 2 miles of 400-500 foot tall turbines.
Empirical research demonstrates that residential property values are adversely impacted within this range, by 25% to 40%.
Report to Adams County Board, Quincy, IL PDF 6/8/2010 via Wind Watch.
Residential property values are adversely and measurably impacted by close proximity of industrial-scale wind energy turbine projects to the residential properties, with value losses measured up to 2-miles from the nearest turbine(s), in some instances.
Real estate sale data typically reveals a range of 25% to approximately 40% of value loss, with some instances of total loss as measured by abandonment and demolition of homes.
Basis for value impact 40 sales that demonstrate on their face a 25% lower value of homes in close proximity to the Mendota Hills turbines.
Value loss of $8.8 million is indicated for a typical Illinois project
Wind turbines lower real estate prices: Report. 1/21/2019 Germany
Wind turbines that are built at a distance of one kilometer from a detached house lead on average to a price reduction of the property by 7.1 percent.
Gardner Appraisal Group
Impact of Wind Turbines on Market Value of Texas Rural Land PDF 2/13/2009 via Wind Watch
•A VIEW adds value to rural property
•Take view away – added value goes away
•Brokers in rural areas confirm that property values in areas of wind facilities are 10%-30% less than property not in areas of wind facilities.
Forensic Appraisal Group, Ltd.
An overwhelming majority of Realtors says that wind turbines negatively impact property value. They estimate the range of impact to be from a 10% price reduction to being completely unsalable.
Our livelihood depends on our objectivity. If an appraiser is ever found to tweak their results to achieve a certain outcome, they can lose their license…and their livelihood. An appraiser has a lot at stake when they give their opinion because the minute an appraiser makes an opinion, it’s an appraisal by law. However, other individuals who are part of answering this value question (like economists, engineers, professors, social scientists, etc.) do not run this risk because they’re not licensed. They may lose credibility, but they won’t lose their livelihood.