What’s the economic value of tree planting? The 2010 Green Infrastructure values guide from the Center for Neighborhood Technology provides more examples of property values: “Several empirical studies have shown that property values increase when an urban neighborhood has trees and other greenery. For example, one study reported an increase in property value of 2-10 percent for properties with new street tree plantings in front (Wachter 2004; Wachter and Wong 2008). Another study done in Portland, Oregon, found that street trees add $8,870 to sale prices of residential properties and reduce time on market by 1.7 days (Donovan and Butry 2009)” (48).
increase in trees and vegetation, as well as the socio-cultural values of a community contribute to increased aesthetics and property values. For example, a 2004 study conducted by the United States Department of Defense highlighted that LID is able to improve the landscape and ultimately the values of properties (both those directly involved and those adjacent) as it provides architectural interest to properties that may be otherwise open or abandoned spaces.44 Depending on the objective and method of analysis, property
values will also account for other impact categories such as water and air quality. Energy Use The extra shade and insulation obtained from green roofs and trees incorporated into bioswales reduce the heating and cooling needs of a building with LID infrastructure as compared to conventional roof construction. The decrease in a building’s heating and cooling needs translates into reduced energy use and costs. Plumb and Seggos estimate that with a significant amount of green roofs, the ambient temperatures in New York City can be reduced by approximately 1.4 degrees Fahrenheit.45 Furthermore, as LID technology reduces the amount of stormwater runoff that enters treatment systems, the amount of energy used at water treatment facilities is reduced.
44
Ed MacMullan and Sarah Reich, The Economics of Low-Impact Development: A Literature Review, ECONorthwest, November 2007. 45 Ed MacMullan and Sarah Reich, The Economics of Low-Impact Development: A Literature Review, ECONorthwest, November 2007.
An Economic Impact Analysis of Onondaga County’s Save the Rain Program
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