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11/01/88
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11/01/88
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7/22/2025 3:36:48 PM
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Meetings
Meeting Document Type
Agenda
Document Title
Planning & Zoning Commission
Document Date
11/01/1988
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the variance in housing price as possible. <br />In research conducted for this ElS, an Hedonic Model was designed to <br />include 15 variables. Eleven of these variables have been used in <br />published studies; four others were added by the researchers: Tree <br />Cover, Viewhouse, Viewroad, and Zone. Tree cover was added following <br />discussions with realtors in Anoka County. They felt it was an important <br />factor. Viewhouse and viewroad were used to previde aesthetic variables. <br />Viewrgad was used because the likelihood that suburban dwellers would <br />make many trips. Being thus subject at lest daily to the view might <br />have an impact on price whether or not the landfill could be seen from <br />the house and yard. The variable zone was added in case effects might <br />occur in quasi-neighborhood bands around landfills separately from <br />distance alone. <br /> <br /> A list of variables used in the Hedonic Model and their definitions for <br /> this ElS is shown in Table 2. A description of housing styles examined <br /> is shown in Figure 1. Most variables are common to hedonic property <br /> value analysis. Those created specifically for this research are so <br /> indicated. <br /> Several previous studies were important in the detailed r m~r~cn design. <br /> Li and Braun (1980) used the model of Hedonic Value Theory to determine <br /> the effect of housing structure, neighborhood characteristics, <br /> accessibility, aesthetics and the availability of public services on housing <br /> value. They were able, by this method, to explain about 80% of the <br /> variance in property values in the city of Boston. <br /> Li and Braun (1980) isolated two factors which significantly affected the <br /> sale price of houses in their sample: ambient noise levels; and the <br /> on-site, visual quality of the homes. Aesthetic quality was ranked on a <br /> scale of 0 to $, where (5) was positive. A score of (5) resulted in a <br /> premium of $2,520 in sale price over properties 'with a score of (1). <br /> By contrast, a doubling in a negative score for noise pollution resulted <br /> in a price loss of $460. <br /> <br /> Hedonic Value Models were used.by Adlen et al. (1982), to measure the <br /> effects of waste disposal sites on nearby property values in New Jersey <br /> and Minnesota. The study was sponsored by the U.S. Environmental <br /> Protection Agency. <br /> Homeowners near the New Jersey site were aware of the contamination <br /> and concerned about it. Distance from the contaminated site in Pleasant <br /> Plains, New Jersey was found to be important in determining property <br /> value. Effects could be attributed to contamination up to a distance of <br /> 2.25 miles from the site. Discounts of $1500 were noted at a distance <br /> of 1.75 miles: losses of $5400 at a distance of .25 miles. In doing the <br /> studies the authors reviewed pre-contamination and post-contamination <br /> <br />8 <br /> <br /> <br />
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