There has been much research into the effect of a cell tower on residential property values. The research has determined that cell towers do not have an adverse effect on residential property values...

“There is no measurable impact on residential property values due to the proximity to a cellular or wireless telecommunication tower.” (David M. Taulbee, MAI, Tower Value Impact Study). Link to this report.

“The appraisers at the symposium presented the results of the studies, which showed no impact on property value, and the local county property assessors indicated that they never lowered assessments on property due to proximity to a tower.” (Federal Focus National Symposium on Wireless Transmission Base Station Facilities). Link to this report.

“The results indicated that the presence of communication towers resulted in essentially no impact on residential values.” (Allen G. Dorin, Jr., MAI, SRA & Joseph W. Smith, III, The Impact of Communications Towers on Residential Properties). Link to this report.