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Publication Information

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Title: Water contamination, land prices, and the statute of repose

Author: Chamblee, John F.; Dehring, Carolyn A.; Depken, Craig A.; Nicholson, Joseph R.;

Date: 2015

Source: The Journal of Real Estate Finance and Economics

Publication Series: Scientific Journal (JRNL)

Description: We examine how water contamination risk from an inactive hazardous waste site is capitalized into surrounding vacant land prices. After public knowledge of the first instance of off-site contamination, we find that shallow groundwater contamination potential is negatively capitalized into land prices, as is proximity to a known contaminated well. Public knowledge of off-site contamination and associated land price changes occur after the North Carolina’s 10-year statute of repose. Our findings raise questions concerning such statutes when environmental contamination has a long latency period, especially given a recent Supreme Court ruling that Superfund law does not preempt state statutes of repose.

Keywords: superfund, pollution, hydrology, property values

Publication Notes:

  • We recommend that you also print this page and attach it to the printout of the article, to retain the full citation information.
  • This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.

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Chamblee, John F.; Dehring, Carolyn A.; Depken, Craig A.; Nicholson, Joseph R. 2015. Water contamination, land prices, and the statute of repose. The Journal of Real Estate Finance and Economics. 17 p. 10.1007/s11146-015-9514-3

 


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