HOME VALUES

Data and history do not support the pro-casino agenda, but our legislators and Twin River want you to ignore the data and history. You can make it look like a library, the Taj Mahal or Buckingham palace, but it will still be a casino, plain and simple. And having a casino nearby can drop home prices 2% to 10%.

This is great for buyers, if you're willing to put up with a casino in your community. This is not so great for sellers or investors. Furthermore, it's not so great for property owners in a host community who may not be as close to the casino.

Casinos hurt more than home values
As property values of homes located closer to the casino decline, those away from the casino may decline less, or not at all. That may not sound so bad, but if you consider how taxes are determined, those homeowners located farther away from the casino will assume more of the tax burden as a result of those reduced values near the casino.

The pro-casino folks will tell you that there has been no impact in Lincoln. That's pretty difficult to conclude because a gaming facility has been located in Lincoln for several decades. A Tiverton casino introduces a gaming facility to a community that's never had one, which is exactly why the nearby property values are sure to decline. Please take a look at the following resources:


 


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