Developing a Practical Income Approach in Urban Forest Benefit Valuation (08-DG-11083150-017)
Identification of benefits and costs of urban forestry is a major need and a practical problem. Appraisal of large trees is commonly accomplished using a valuation formula or market comparison methods. These methods have been inconsistent and do not allow for consideration of the total array of benefits. A third standard method, income capitalization, is seldom used because cash flows are difficult to obtain and capitalization methods difficult to apply. This proposal is for developing a framework to use existing forest valuation software to value urban forests using the income approach and allowing for improved cost-benefit analysis.
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Research & Human Dimensions