Clean water an enormous asset
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Editor,
On Dec. 8, 2011, a U.S. Senate panel approved a plan for $415 million to be spent on the restoration of Lake Tahoe over a decade. This was in addition to $1.4 billion spent to restore or protect Tahoe since 1997. Flathead Lake is much the same size as Tahoe. Maintaining clean water in the Flathead watershed is worth a great deal.
While there is no generally accepted method for valuing high quality water in the Flathead watershed, one measure may be the market value of residential properties — the privilege to live in an area. For example, 2010 per-capita residential property valuations in the following counties were: Lake, $63,624; Missoula, $36,379; Flathead, $62,665; Cascade, $24,143.
Had per-capita values in Flathead County and Lake County been the same as in Missoula County, total residential property valuations in these two counties would have been $3.1 billion lower. Had they been the same as in Cascade County, they would have been $4.6 billion lower. This $3-$5 billion in residential property value is at risk if water quality declines in Lake and Flathead Counties.
Studies in Minnesota and Maine have shown that impaired water has led to a drop in home values by tens of thousands of dollars. Property values are the tax base supporting essential public services — schools, roads, public safety, and some healthcare costs. Property tax revenues in Flathead and Lake Counties, $176 million in 2010, would drop by millions if water quality in our watershed deteriorates.
Whether to protect the value of residential and business properties (most people’s primary asset), or to avoid costly remedial work, increases in funding for water quality monitoring, protection against aquatic invasive species, restoration of riparian areas and other initiatives, is a wise investment. Better schools, public safety and roads all contribute to higher property values and a stronger regional economy. So, too, do clean waters. Much is at risk. A “Made in Montana” solution exists by redirecting limited tax dollars for greater protection of water quality.
Roger S. Smith
Polson
