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Information Disclosure Requirements and the Effect of Soil Contamination on Property Values

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  • Hank Jenkins-Smith
  • Carol Silva
  • Robert Berrens
  • Alok Bohara

Abstract

This paper extends previous research assessing the effects of environmental pollution on property values, and the specific issue of information disclosure requirements on future real estate transactions. Given that various information disclosure requirements were imposed in most US states during the 1990s, it is important to begin to understand their anticipated effects. Using a case of soil contamination in Corpus Christi, TX, USA, this paper applies the contingent valuation method using telephone survey data to investigate the effect of a split-sample information disclosure treatment concerning soil contamination on the willingness to pay of potential home buyers. The authors apply a mixture modelling approach to better explain the effect of the information disclosure requirement.

Suggested Citation

  • Hank Jenkins-Smith & Carol Silva & Robert Berrens & Alok Bohara, 2002. "Information Disclosure Requirements and the Effect of Soil Contamination on Property Values," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 45(3), pages 323-339.
    • Handle: RePEc:taf:jenpmg:v:45:y:2002:i:3:p:323-339
    DOI: 10.1080/09640560220133388
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    Cited by:

    1. Bandara, Ranjith & Tisdell, Clement A., 2003. "Use and non-use values of wild Asian elephants: A total economic valuation approach," Economics, Ecology and Environment Working Papers 48961, University of Queensland, School of Economics.
    2. Dennis Guignet & Anna Alberini, 2015. "Can Property Values Capture Changes in Environmental Health Risks? Evidence from a Stated Preference Study in Italy and the United Kingdom," Risk Analysis, John Wiley & Sons, vol. 35(3), pages 501-517, March.
    3. Dennis Guignet & Anna Alberini, 2013. "Can Property Values Capture Changes in Environmental Health Risks? Evidence from a Stated Preference Study in Italy and the UK," Working Papers 2013.67, Fondazione Eni Enrico Mattei.
    4. Anna Alberini & Dennis Guignet, 2010. "Preliminary Stated-Preference Research on the Impact of LUST Sites on Property Values: Focus Group Results," NCEE Working Paper Series 201009, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Aug 2010.
    5. Guignet, Dennis, 2012. "The impacts of pollution and exposure pathways on home values: A stated preference analysis," Ecological Economics, Elsevier, vol. 82(C), pages 53-63.
    6. Robert A. Simons & Kimberly Winson-Geideman, 2005. "Determining Market Perceptions on Contamination of Residential Property Buyers using Contingent Valuation Surveys," Journal of Real Estate Research, American Real Estate Society, vol. 27(2), pages 193-220.
    7. Chia-Nung Li & Chien-Wen Lo & Wei-Chiang Su & Tsung-Yu Lai, 2015. "A Study on Soil and Groundwater Pollution Remediation of the Surrounding Real Estate Prices and Tax Revenue Impact," Sustainability, MDPI, vol. 7(11), pages 1-13, November.
    8. Oana Mihaescu & Rainer Vom Hofe, 2013. "Using Spatial Regression To Estimate Property Tax Discounts From Proximity To Brownfields: A Tool For Local Policy-Making," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 15(01), pages 1-23.
    9. Mihaescu, Oana & vom Hofe, Rainer, 2013. "The Impact of Brownfields on Residential Property Values in Cincinnati, Ohio: A Spatial Hedonic Approach," HUI Working Papers 85, HUI Research.
    10. Robert A. Simons & Jesse Saginor, 2010. "Determining Off-Site Damages to Non-Residential Property from Leaking Underground Storage Tanks Using Contingent Valuation Analysis," International Real Estate Review, Global Social Science Institute, vol. 13(2), pages 134-156.
    11. Christopher A. De Sousa & Changshan Wu & Lynne M. Westphal, 2009. "Assessing the Effect of Publicly Assisted Brownfield Redevelopment on Surrounding Property Values," Economic Development Quarterly, , vol. 23(2), pages 95-110, May.
    12. Bo-sin Tang & Kwan To Wong, 2020. "Assessing externality: Successive event studies on market impacts of new housing development on an old residential neighbourhood," Environment and Planning B, , vol. 47(1), pages 156-173, January.
    13. Robert A. Simons & Jesse Saginor & Aly H. Karam & Hlengani Baloyi, 2008. "Use of Contingent Valuation Analysis in a Developing Country: Market Perceptions of Contamination on Johannesburg’s Mine Dumps," International Real Estate Review, Global Social Science Institute, vol. 11(2), pages 75-104.
    14. Ranjith Bandara, 2004. "Economic Value of Conservation: The Case of the Asian Elephant," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 5(2), pages 283-300, September.

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