Real Estate Appraiser Says No Property Value Loss with Nearby Site

SHARE THIS ARTICLE

Share on facebook
Share on google
Share on twitter
Share on linkedin

Verizon Wireless applied for a tower behind the Woods Road firehouse in Hillsborough, NJ, but neighbors, like many across the country, have voiced concern over property values. Consultant for Verizon and real estate appraiser, Mark Tinder, presented to the town’s zoning board this week for more than two hours, stating the tower would not have any impact on property values.

CentralJersey.com reported that Verizon wants to improve service with 4G phones to almost 2,200 homes in the area. Verizon plans on paying the firehouse an undisclosed amount for the rights to put the tower behind the building. Additionally, Verizon is asking the board of adjustment for a variance to build within 2,000 feet of the Woods Road Elementary School and to exceed the allowable maximum 35-foot height for a structure in this zone, according to CentralJersey.com. Verizon’s proposed height is 126 feet.  

Tinder’s testimony took a look at floodplains and wetlands on the proposed tower site, comparing the site to three similar projects near residential neighborhoods. According to CentralJersey.com, he said at the hearing, “Based on my field observations of the site and the neighborhood, as well as my review of the proposed site plan and my ongoing work as a real estate appraiser … there would be no reasonable potential value impact that would be associated with this proposed use.”

Residents argued the merit of Tinder’s argument, but he stood strong, stating the monopole is of “passive use” that “does not generate noise or odors” and does not add more traffic. There are no lights or municipal services, or other external factors, that would impact property values, according to Tinder. However, CentralJersey.com reported, Tinder “could not definitively explain” why property values would not be affected. Tinder plans to be back at the next hearing Wednesday, October 26, along with a Verizon site acquisitions specialist who will answer more questions.

October 17, 2016

Reader Interactions

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.