Title
Water Contamination, Land Prices, and the Statute of Repose
Document Type
Article
Publication Date
10-10-2015
Abstract
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.
DOI
10.1007/s11146-015-9514-3
MSU Digital Commons Citation
Chamblee, John F.; Dehring, Carolyn A.; Depken, Craig A.; and Nicholson, Joseph, "Water Contamination, Land Prices, and the Statute of Repose" (2015). Department of Accounting and Finance Faculty Scholarship and Creative Works. 146.
https://digitalcommons.montclair.edu/acctg-finance-facpubs/146