Social and Behavioral Sciences Commons^™

Mr398: Water Quality Affects Property Prices: A Case Study Of Selected Maine Lakes, Holly J. Michael, Kevin J. Boyle, Roy Bouchard

Miscellaneous Reports

Lake-front property owners are potentially the recipients of the greatest economic gains from improved lake-water quality because the benefits of water quality can be capitalized in the price of lake-front properties. These same lake-front owners may also directly affect lake-water quality through the actions they take on their properties. The objective of this study is to estimate the effect of water clarity on lake-front property prices for selected Maine lakes using a hedonic property-price model. Hedonic models are used to estimate the share of property prices that are attributable to characteristics of the properties. The share of a property’s price …