Abstract
This study estimates the economic value of the damage caused by the noise by analyzing land prices in the area around a military live-fire complex (LFC). To do this, we create a noise map based on the noise level measured in the LFC and surrounding area, and combine it with the data of 10 years of assessed value and characteristics for land in the surrounding area. Using the panel data, the effect of the noise from the LFC on land prices of the surrounding area is statistically analyzed. The results show that the level of land price decreases by about 4250 KRW/m² ~ 5485 KRW/m² as the noise level increases by 10 dB(C), and that the growth of land price varies depending on the noise level of the area. The results will be able to be used to estimate the economic value of the noise damage from the LFC for the entire surrounding area as well as for individual parcels.
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