A Study on Soil and Groundwater Pollution Remediation of the Surrounding Real Estate Prices and Tax Revenue Impact

Li, Chia-Nung; Lo, Chung-Ming; Su, Wei-Chiang; Lai, Tsung-Yu

doi:10.3390/su71114618

Cited by 9 publications

(3 citation statements)

References 10 publications

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“…The CVM is an effective and popular method [17][18][19][20] for estimating non-market values of environmental impact assessments [21], which computes respondents' WTP through questionnaire data. However, as indicated in Section 2.1, the original data cannot be analyzed directly, since there are too many influencing factors, which not only make the analysis inefficiency, but also give false correlation among variables.…”

Section: Calculation Of Non-market Value Of Haze Management and Prevementioning

confidence: 99%

Valuation of Haze Management and Prevention Using the Contingent Valuation Method with the Sure Independence Screening Algorithm

et al. 2016

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Haze has caused the deterioration of air quality and has ultimately affected the ecological environment. The contingent valuation method (CVM) is an important assessment method that is widely used in ecological economics. The public's willingness to pay (WTP) for haze management and prevention can be analyzed using dichotomous choices. Here, the method is applied to study the valuation of haze management and prevention. Taking Jiangsu Province as an example, the non-market value is calculated by constructing the binary logistic model from questionnaire data, combined with a data-processing method: the sure independence screening (SIS) algorithm. The conclusions are as follows: (1) The public's WTP for haze management and prevention is closely related to the monthly income of families and transport modality; (2) According to the CVM, the non-market value for haze management and prevention in Jiangsu is 7.645 billion yuan; (3) By the average estimate method (AEM), this value is 12.529 billion yuan, about 1.64 times the estimate from the CVM. This is because the AEM ignores the correlation among the influence factors and, therefore, overestimates the valuation of the services; (4) The CVM, combined with the SIS algorithm, does a better job in estimating the valuation of the services.

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Section: Calculation Of Non-market Value Of Haze Management and Prevementioning

confidence: 99%

Valuation of Haze Management and Prevention Using the Contingent Valuation Method with the Sure Independence Screening Algorithm

et al. 2016

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“…They find that housing prices drop 3.6% for each kilometer closer to the waste transfer station. Li et al (2015) explore the impact of soil and groundwater pollution remediation on housing prices in Taiwan. First, they used hedonic regression analysis, but due to limited sales and the small number of sales near the polluted sites, it is very difficult to use this method to evaluate the effect.…”

Section: Externality Research Papers In Chinamentioning

confidence: 99%

International Real Estate Review

Zhao¹,

Simons²,

Fen³

2016

IRER

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Incineration plants and derelict industrial sites can have a number of adverse effects on the local environment and social welfare, including the diminution of property values. Although there are many incineration plants in China, there has been relatively little research done to quantify their negative externality effects. This study therefore considers the effects of three municipal incineration plants in Hangzhou city on residential property values. Hedonic pricing modeling of 2,200 residential transactions in over 70 multifamily buildings within ten kilometers of the incineration plants over a one year period including 2014 and 2015 is carried out. Generally, the results show that the neighboring properties show decreases in the initial listing price of up to 25%, declining until the effect is gone about three kilometers from the incinerator. The most consistent losses are approximately 10% between 1-2 kilometers from the nearest incinerator. These results are comparable to similar situations in the United States and Canada.

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“…One of the reasons is that collecting and compiling related data in the early stage of site management is not as high a priority as other remediation efforts. In Taiwan's existing literature, Li et al (2015) is the only study which has investigated the difference in the surrounding real estate prices depending on whether or not soil and groundwater contamination were remedied. However, that study only considered the case of an individual factory and did not cover the impact for farmland or gas station sites.…”

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confidence: 99%

Monetarizing Spillover Effects of Soil and Groundwater Contaminated Sites in Taiwan: How Much More Will People Pay for Housing to Avoid Contamination?

Liou

Randall

et al. 2019

Asian Economic Journal

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This study monetizes spillover effects of soil and groundwater contaminated sites using a quantile hedonic price model for different site types in Taoyuan City in Taiwan, which has 1664 sites, the highest number for any city in Taiwan. The results show that except for those living in the cheapest housing, most residents are willing to pay a higher price to live farther away from contaminated sites. Farmland makes up the largest share of the total contaminated site area and has the highest per square monetary spillover effects in Taoyuan City; remediation of farmland is one of the most urgent missions for the city. Overall, a NIMBY effect is found to exist for soil-and groundwater-contamination in this city.Keywords: geographic information system, housing property, NIMBY effect, quantile hedonic price model, willingness to pay. JEL classification codes: C21, Q24, Q51, Q53.

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A Study on Soil and Groundwater Pollution Remediation of the Surrounding Real Estate Prices and Tax Revenue Impact

Cited by 9 publications

References 10 publications

Valuation of Haze Management and Prevention Using the Contingent Valuation Method with the Sure Independence Screening Algorithm

Valuation of Haze Management and Prevention Using the Contingent Valuation Method with the Sure Independence Screening Algorithm

International Real Estate Review

Monetarizing Spillover Effects of Soil and Groundwater Contaminated Sites in Taiwan: How Much More Will People Pay for Housing to Avoid Contamination?

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