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Property Values
This page contains links to an issue near and dear to our hearts, Property Values. So you thought that nice little spread in the country was your nest-egg for retirement?
Getting comfortable in your nice new dream home in Brooklin,
Cornell, or Nottingham? Enjoy it while you can should the Proposed Pickering Airport be built.
Not only will the noise of Jet Planes flying over your house be
a major irritant, but the value of you new home will drop,
considerably less than what you paid for (or maybe even owe on)
it.
On the other
hand, if the Pickering Airport Lands were to be included in the Greenspace plan, properties values would increase,
and there would be peace and quite in the air.
Call or write your local councillor now, and demand a stop to
this ridiculous land grab!
Aviation Noise Law “Airport Noise and Residential Property Values” Page
All other things remaining equal, the value of a house and lot decreases by about 3.4% for every quarter of a mile the house is closer to being directly underneath the flight track of departing/approaching jet aircraft.
Environment Canada “Impact of Greenspaces on Properties Values” Page
“The study shows that greenspace does have a significant effect on home values. This, coupled with the other more general beneficial economic effects of natural areas, helps make a convincing argument for maintaining existing greenways, developing new ones, and incorporating them into urban planning.”
Residents Protest Zoning changes around Springfield Airport
Article
A Jackson Road resident who lives close to the airport runway said that
the aircraft noise “is almost unbearable. We can’t hear the
television and the radio and we can’t talk. If I could get
compensation I would move tomorrow.” Some area residents
questioned why home owners should be the ones to pay the price,
with housing restrictions, of the airport noise.
Loss of Property Value and Property Tax Revenue Attributable to
El Toro Airport Noise Page
The impact on single family residences ranges from –15.1% to
–42.6%, and averages –27.4%. This does not include the costs of
noise mitigation measures that individual homeowners may incur.
Standardized for view, condition of structure, size of
structure, lot size, number of bedrooms, number of baths,
zoning, land use, county/state development policies, and
similarity of neighborhoods, a housing unit selling for $141,400
in the immediate vicinity of the Airport would sell for
$155,700, or $14,300 (10.1%) more if it were located elsewhere."
This is 10.1% lower than the properties already depressed
values from being near the current airport in the first
place.....just adding a third runway will drop your property
values another 10%!!!
Your Property Could Become a Lot Less Valuable!
If you live in the 55 decibel PDX Noise Contour LOOK OUT!
There is something very interesting going on here, the FAA doesn't
consider the averaged aircraft noise measurement, (dnl), of 55
decibel, area noisy enough for insulation awards from PDX for
homeowners to receive reimbursement for loss of property value
due to aircraft noise, but they want to impose restrictions...
All of this relates to value of our property
and the diminution of this value by trying to take value from us
without paying for it and by polluting the air above our homes
with noise, vibrations and fumes. One community group in
California feels homes will suffer a reduction in market value
from 10% to 33%. A certified real estate appraiser found that in
homes near airports in major Southern California
communities would have a diminution in value of 27.5 percent.
This means potentially tens of thousands of dollars of your home
equity that will be wiped out should this airport be built.
BE HEARD, BE
V.O.C.A.L!!
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