Property values and tax rates near spent nuclear fuel storage

Highlights: • Proximity to spent nuclear fuel has no discernible residential property value impact. • 1% point property tax increase associated with 4.31% decrease in home price. • Evidence of positive impact of nuclear sites on property values via tax payments. - Abstract: This paper examines potential property value impacts when a nuclear power plant closes and spent fuel remains on site. We confirm earlier research that fails to find an impact on property values of proximity to a nuclear power site. Another contribution of this paper is our finding that a one percentage point increase in property taxes is associated with a 4.31% decrease in the sale price of a home. These results provide evidence for a positive impact of operating nuclear facilities on surrounding communities in the form of reduced residential property taxes for a given level of public expenditures.