PERCEIVED WATER QUALITY AND THE VALUE OF SEASONAL HOMES1 |
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| Authors: | C Edwin Young |
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| Institution: | Project Leader, Economic Research Service, U.S. Dept. of Agriculture, Institute for Research on Land and Water Resources, Pennsylvania State University, University Park, Pennsylvania 16802. |
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| Abstract: | ABSTRACT: The impact of degraded water quality on the value of seasonal homes adjacent to St. Albans Bay on Lake Champaign in northern Vermont is estimated using hedonic price functions. The Value of properties located adjacent to the bay are depressed by about 20 percent, or $4,500 on average, compared with similar nearby properties on the larger but cleaner lake. Water quality degradation resulted in decressed property values of approximately two million dollars in the area surrounding the Bay. |
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| Keywords: | KEY TERMS: water quality hedonic property values benefits |
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