Property Values Will Decrease

    

     Decreasing Property Values of 25% to 40% Where Wind Farms Exist Are Real. The installation of industrial wind power facilities will severely reduce local property values. Historically, 80% of land real estate transactions in Bosque county are those involving recreational buyers. In other words, people buy land in Bosque county to enjoy the beauty, peace, and tranquility of the land and lifestyle that it represents. The result of a wind project in our area will be a dramatic reduction in marketability of our land, homes and our county if we allow it to proceed. While solar has a much smaller footprint, the impact to those adjoining or in sight line could still encounter a substantial impact on marketability and value in a market such as Bosque County where recreational buyers make up the majority of transactions.

   

     The common sense approach concerning values, and the most widely used and accepted approach to valuing rural property, is defined as an estimate of value of recent sales of similar property in the surrounding or competing areas –as compared to the subject property. The facts are these: property values in our Bosque County Texas areas have increased dramatically over the last several years with buyers from urban areas acquiring land for recreation and retirement purposes. These buyers spend money in our county and our cities. They eat at our restaurants, shop at our stores, contract with our tradesman, and pay taxes. In areas of our state and nation where wind turbine companies have developed wind industrial zones, property values have decreased materially. Many cannot sell their land once turbines are introduced.

 

     So, what will happen when industrial wind zones are developed in our counties, where land is selling at $3,000 or more per acre? It will significantly slow down our real estate market and slow our economic growth as we have come to know it. Just as scenic views and water features tend to increase property values, we know, based on publicly available evidence, that massive industrial turbines and power transmission lines will dramatically decrease property values. Based on independent studies, the values may decrease 25% to 40% or more in these areas.

 

     In fact, buyers are already wary of the prospect of wind zones in our county. Several brokers who sell property in nearby areas, including Comanche and Mills Counties, state that 8 of 10 buyers will not even look at a property if there are wind turbines in view. Brokers have reported, that within the last six months they have had clients decide not to buy land because of the potential of wind turbines being built in proximity to the property. Those landowners who wish to sell property at this time are already seeing the effects of this proposed project. Value and marketability impacts are real and they are substantial. Furthermore, the wind and solar companies gain the large profits of increased electricity costs, federal subsidies, and state tax credits. The landowner gains none of these tax incentives or real profits in comparison to such wind companies.

 

Hard facts are –if wind turbines are in your view, you lose.

 

Sources:

Gardner report linkhttp://www.texas-wildlife.org/program-areas/impact-of-wind-turbines-on-market-value-of-texas-rural-land

Forbes:https://www.forbes.com/sites/judeclemente/2015/09/23/do-wind-turbines-lower-property-values/?fbclid=...

Wind Action Group:http://www.windaction.org/posts/26696-testimony-of-michael-mccann-on-property-value-impacts-in-adams

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