廢棄物傾倒這個議題在臺灣已經存在數十年，隨著時代變遷下，不論是在開採地基所產生的土石方，亦或是拆除老舊房屋的營建廢棄物，都仍會有非法傾倒的問題發生。漸漸地隨著環保意識抬頭，環境部於2012年正式啟用廢棄物棄置案件管理系統(WDMS)，且近期政府推動的營建廢棄土方清運新制，旨在解決非法棄置問題，將整個流程從清運端開始到最後的列管場址都資訊透明化，隨著政府監管趨嚴與揭露資訊透明化，廢棄物場址對周邊房價的負面影響將更趨具體。
本研究以臺南市為研究範圍，採用公告列管前半年至公告後兩年之住宅實價登錄資料，結合特徵價格模型、差異中之差異配對法與分量迴歸，探討廢棄物列管場址在官方公告後，對周邊住宅房價所造成之空間與時間衝擊，並進一步分析不同價格帶住宅之異質性反應。研究結果顯示，公告列管確實會對周邊住宅價格產生顯著負向影響，且其效果具有距離遞減特徵。在公告列管後以住宅總價衡量下，兩公里與三公里內住宅於公告後約下降10.6%與4.6%。進一步透過分量迴歸分析可知，兩公里內之負向衝擊主要集中於中高單價住宅；當影響範圍擴大至三公里後，負面效果則由中高價位擴及中低至中高價位住宅；且高價位住宅對於廢棄噸數數存在顯著的負向效果，代表高單價住宅相對其他分量住宅來說，對於廢棄物噸數的影響更為敏感。整體而言，本研究證實公告列管為一項具有實質經濟效果之資訊衝擊，對臺南市住宅市場存在顯著且具異質性之跌價效果，本文結果可作為政府後續環境資訊揭露、風險溝通與土地治理政策之參考。

Illegal waste dumping has been a persistent issue in Taiwan for decades. With ongoing urban development and industrial activities, problems related to the illegal disposal of excavated soil, construction debris from demolished buildings, and other waste materials continue to occur. As environmental awareness has gradually increased, the Ministry of Environment officially launched the Waste Disposal Management System (WDMS) in 2012. More recently, the government has promoted a new management policy for the transportation of construction surplus soil and waste materials, aiming to address illegal dumping through enhanced information transparency across the entire disposal process, from transportation to the final officially registered waste disposal sites. As government regulation becomes stricter and environmental information disclosure more transparent, the negative externalities of waste disposal sites on nearby housing prices are expected to become more substantial and observable.
This study focuses on Tainan City and employs residential transaction data from six months prior to official site registration to two years after registration. By combining the hedonic pricing model, propensity score matching difference-in-differences (PSM-DID), and quantile regression, this study examines the spatial and temporal impacts of officially registered waste disposal sites on surrounding housing prices after public disclosure. In addition, the study further investigates heterogeneous effects across different housing price levels.
The empirical results indicate that official site registration has a significant negative impact on nearby housing prices, and the effect exhibits a clear distance-decay pattern. Measured by total housing price, residential properties located within two kilometers and three kilometers of registered sites experienced price declines of approximately 10.6% and 4.6%, respectively, after the official announcement. Furthermore, quantile regression results reveal that within a two-kilometer radius, the negative effects are mainly concentrated in medium-to high priced housing units. When the impact range expands to three kilometers, the adverse effects extend from medium-high-priced housing to medium and lower-priced housing units. In addition, higher-priced housing units exhibit a significantly stronger negative response to the volume of illegally dumped waste, suggesting that high-value residential properties are relatively more sensitive to waste-related externalities.
Overall, this study confirms that official waste site registration constitutes a substantial information shock with significant economic consequences for the housing market in Tainan City. The findings provide empirical evidence for environmental information disclosure, risk communication, and future land governance policies.

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