The Effect of Lead Paint Abatement Laws on Rental Property Values
研究了含铅涂料清除法对租赁房产价值的影响，发现清除成本已被市场贴现，房产价值通常高于成本，因此业主弃置房产的情况应较少发生。
Lead paint is a source of childhood lead poisoning, a vicious disease with high costs to both the victims and society. Treatment of the disease requires placing the victim in a lead‐free environment. Laws have been enacted by many localities, which would require removal of lead from residential property. However, property owners have resisted the enforcement of these laws with threats of abandonment. Theory suggests that abandonment will occur only if the value of the rental property after removal of the paint is less than the cost of removal. This paper shows that these costs have already been discounted into property values. Data from Baltimore, Maryland indicates that the market has placed a value of approximately $15,250 per structure or $3,813 per rental unit on expected abatement costs. This value in most cases is less than the value of the rental property. Thus abandonment should occur infrequently.