The loss of your home and property value from pollution
In addition to endangering your health, pollution causes significant depreciation to your property and home. Properties lose value by just being in close proximity to a contaminated site.
Families in Pompton Lakes, NJ were disturbed by reports about possible health hazards caused by chemicals seeping from a nearby Dupont munitions factory. These families were then informed that the prices for homes close to the plant were declining enormously. From 2006 and 2007 to 2008, when the first public reports of the hazardous pollution appeared, the average price of a family home dropped by 24 percent. The listing price for homes in the area close to the factory is about $262,000, $115,000 under the price of the rest of the borough. (The Record, North Jersey)
Dennis Sisco owns a home one block from the Dupont factory. He is unable to sell his home even though he is asking $35,000 less than what he bought it for in 2005. “No one is looking at this house,” he said. “It’s come to the point where we are going to have to low-ball the price just to get out."
Weitz and Luxenburg is here to provide you the necessary information and assistance on property depreciation from pollution. Polluters should, and can, be held accountable for financial loss, as demonstrated in the case of Taygeta versus Varian Associates.
From 1950 to 1973, Varian Associates dumped thousands of gallons of chemical waste into the ground in Massachusetts. In June 1993, the Taygeta Corporation discovered groundwater contamination on their properties caused by the downstream flow of hazardous waste from the nearby Varian site. Taygeta sued Varian for damages in 1996. At the time there was a three year statutory period to file claims, which meant that Varian’s lawsuit would only be valid if they were discovered after May 1993. Eventually, the Supreme Court ruled that Taygeta’s claim was effective. This was due to the fact that although Varian had stopped dumping the waste decades before, groundwater contamination still resulted from the ongoing seepage. This case showed that potential plaintiffs can still file property damage claims even if the contamination had started years earlier and was not discovered until a much later time. (Boston Business Journal)
If you suspect that your property is being damaged or devalued because an industrial polluter is contaminating the environment, Weitz & Luxenburg can help you and your community stay safe and obtain reimbursement for damages. We are one of the leading plaintiffs’ litigation law firms in the country and aforerunner in the legal fight against polluters. Weitz & Luxenberg has worked with clients harmed by the industrial de-greasers PCE/TCE in groundwater and the gasoline additive MTBE in water supply wells. Contact us today discuss your concerns and to obtain immediate answers to your questions. Don’t let polluters get away with ruining the value of your home.
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