受污染工業土地之風險、污名與價值美國經驗的啟示.PDFVIP

23 44 JOURNAL OF HOUSING STUDIES, VOLUME 18 NO. 2, DECEMBER 2009 Risk, Stigma and the Value of Contaminated Industrial Land - US Lessons for Taiwan *** Tzu-Chin Lin*, Jhen-Wei Chen** 摘　要 關鍵詞 ：污染土地估價 、污名、認知風險 AbstrAct The appraisal of contaminated land is needed not only for loan purposes but also for litigation evidence. In contrast to the US, and in spite of its significance, very little attention has been paid to the appraisal perspective of land contamination in Taiwan. The US experience suggests that cost, income and comparison approaches all have their respective merits. Cost and income approaches were mostly seen in the early applications, but the comparison approach has later gained momentum. The cost approach and the Ellwood method are applied in this study to value the severely contaminated RCA site. Monte Carlo simulation is also employed to consider the price effects of associated risk. The resulting capitalization rate is close to that experienced in the US. We argue in the conclusion that contaminated land is only part of the wider stigmatized property problem, and accordingly call for more attention to be paid to the valuation of contaminated land. Key words: contaminated land, stigma, perceived risk (本文於2008年5月21日收稿 ，2009年4月7 日審查通過 ，實際出版日期2009年12月) * 64 Associate Professor, Department of Land Economics, National Chengchi University, Taipei, Taiwan. E-mail: tclin@.tw ** Evergreen International Corp. E-mail: thalassian 123@.tw 24 ( 2004) 19 19 19.9% 1,000( 1998) (2002)