…and Water Quality Increases Property Values
Date Published: 2016 (Maine web site)
Reporter/Author/Researcher: Maine Department of Environmental Protection
Comment: “…study is a partial estimate of user’s economic value and satisfaction because methods constrained estimates to only the most popular Maine lakes and could not include out-of-state users. Maine resident access users spend as much as $153 million annually on their recreation, 59% …spent in the communities nearest those lakes. This use supports as many as 3,000 jobs and generates in excess of $30
million income for Maine residents.
…the overall good water quality of Maine lakes is estimated to boost property owners’ value for lake use by $6 billion dollars more than the cost of the property they purchased.
…earlier studies found that a decline in water clarity can reduce property values by as much as $200 per frontage foot, representing hundreds of millions of dollars in lost property value and that lake use in general supports more than 8000 Maine jobs.” (ME DEP site)
“…users enjoy lakes with higher clarity more than they do those with lower clarity, and they spend less money when they visit lakes with lower clarity. … results suggest that local communities have a substantial, vested economic interest in protecting water clarity…” The Effects of Water Clarity on Economic Values and Economic Impacts of Recreational Uses of Maine’s Great Ponds
Find Out More:
“The Effects of Water Clarity on Economic Values and Economic Impacts of Recreational Uses of Maine’s Great Ponds” http://digitalcommons.library.umaine.edu/cgi/viewcontent.cgi?article=1018&context=aes_miscreports
“Water Quality Affects Property Prices: A Case Study of Selected Maine Lakes” http://www.umaine.edu/mafes/elec_pubs/miscrepts/mr398.pdf
“Great Ponds Play an Integral Role in Maine’s Economy” http://util1.sewall.com/files/Boyle%20et%20al%20Great%20Ponds%20Play%20an%20Integral%20Role%20in%20Maine%201997.pdf
“Water Quality Effects on Property Prices in Northern New England,” LakeLine Vol 23(3), pp. 24-27.
“The Value of Michigan Inland Lakes” (… value of shoreline property on Michigan’s inland lakes is $200 billion which, in turn, generates about $3.5 billion in annual tax revenues.) http://michiganlakeinfo.com/files/2010/04/Value-of-Michigan-inland-lakes.pdf