Has the NIBW Superfund Site caused a negative impact on property values?
There is no evidence that property values have been negatively affected at all as a result of TCE in the groundwater or the Superfund site. The COS commissioned an independent appraisal company to conduct two property value studies in 1992 and 1995 to assess whether being within the NIBW Superfund site had impacted property values. Both studies showed that the Superfund designation had no effect on property values. Copies of both studies are available by calling the City of Scottsdale Environmental Planning and Design Office Hotline at (480) 312-7899. Research by the Arizona State University (ASU) Arizona Real Estate Center shows that the South Scottsdale area has the highest appreciation rate for single-family homes 3.5% per year from 1981 through 1999 in the entire metropolitan area. The appreciation rate for townhomes and condominiums in South Scottsdale is the second highest in the Valley 2.4% per year over the same time frame, and the Valleys highest 4.6% per year from 1986 throug
