Residential property values 383 Property Management, Vol. 20 No. 5, 2002, pp. 383-391. # MCB UP Limited, 0263-7472 DOI 10.1108/02637470210450612 Submitted September 2001 Revised February 2002 Environmental effects on residential property values resulting from the contamination effects of a creosote plant site Douglas S. Bible and Chengho Hsieh Department of Economics and Finance, Louisiana State University Shreveport, Shreveport, USA Gary Joiner Red River Regional Studies Center, Department of History & Social Science, Louisiana State University Shreveport, Shreveport, USA, and David W. Volentine Real Estate Appraising and Counseling, Shreveport, Louisiana, USA Keywords Housing, Environment, Contamination, Value Abstract This study examines the effects of site contamination on residential property values in Northwest Louisiana, a region well-known for having numerous environmental problems. The old Lincoln Creosote site is the focus of this study. Home sales data are examined in detail in an attempttomeasureanyeffectsonpropertyvaluesthatresultfromhomesbeinglocatedonornear thisremediatedsite.Ahedonicpricingmodelisusedtohelpevaluatetheinfluenceofhousingand neighborhoodvariablesonhomeprices.Themodelincludesadummyvariable,whetherornotthe home is in a neighborhood located in a contaminated area, to estimate the effects of the contaminated site on property values. Introduction This study examines the effects of site contamination on residential property values. The study area is located in the Shreveport-Bossier City area in Northwest Louisiana, a region that has numerous brownfield[1] sites many vacant and in need of remediation), as well as several that have been developed both with and without remediation[2]. The Lincoln Creosote contamination site is examined in an attempt to measure the effects on property values that result fromhomesbeinglocatedinaremediatedsitearea. Importance of research The procedures and findings in this study may have both national and international applications and implications. For example, contamination studiesareimportantinboththepublicarenasuchasinlanduseplanningand The research register for this journal is available at http://www.emeraldinsight.com/researchregisters The current issue and full text archive of this journal is available at http://www.emeraldinsight.com/0263-7472.htm This paper was presented to the First World Congress of the International Real Estate Society, July 2001, Alyeska Resort, Alaska.