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| Sanitary Landfills, Stigma and
Industrial Land Values Author: Karl L. Guntermann Start Page: 531 Abstract: A significant
literature exists that documents reductions in property value around toxic, chemical and
in some cases solid waste landfills. There is also an emerging literature on
stigma-related damage, which can be defined as a loss in value due to the increased risk
associated with a contaminated property even after the problem has been eliminated. This
research extends the empirical literature on landfills by examining the impact that solid
waste landfills have on surrounding industrial property. The results indicate that the
value of industrial land around an open, solid waste landfill is reduced by the presence
of the landfill. Property around closed, solid waste landfills and open and closed refuse
landfills is not adversely affected by the landfills. These results are not affected by
the presence or absence of methane gas controls and ground water monitoring systems.
Landfills sold with industrial zoning are discounted substantially by the market for
various reasons, probably including limited alternative future uses, costs of remediation
and potential liability from being in the chain of title. |
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