Abstract:
Several recent incidences of severe waterborne lead exposure have public authorities and communities across the US rethinking their strategies to address aging water infrastructure. One common question: who should pay for updates? This paper provides evidence of positive property value capitalization effects following remediation of private lead service lines in Madison, WI. Using a 16-year panel of property transactions data and a universal and prescriptive policy change, I identify an average post-replacement price effect on the order of 3–4% of a property’s value. This implies a more than 75% average return on public and private remediation costs, suggesting homeowners strongly value the benefits of lead reduction in publicly supplied drinking water.
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| https://news.fordham.edu/science/lead-water-and-6-things-you-can-do/ |
by Adam Theising, Department of Agricultural and Applied Economics, University of Wisconsin-MadisonMadisonUSA
Environmental and Resource Economics via Springer Link www.SpringerLink.com
November, 2019; Volume 74, Issue 3, pages 1355–1382|
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