The value of canopy cover: a hedonic pricing study in Lakeland, Tennessee
<p>Urban forests have been shown to impact residential property values. This research demonstrates the results of a hedonic pricing study to determine the impact of canopy cover on single family residential property values in Lakeland, Tennessee during the period 2001-2005. The influence of ca...
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| Format: | Others |
| Language: | en |
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MSSTATE
2016
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| Online Access: | http://sun.library.msstate.edu/ETD-db/theses/available/etd-03182016-124548/ |
| Summary: | <p>Urban forests have been shown to impact residential property values. This research demonstrates the results of a hedonic pricing study to determine the impact of canopy cover on single family residential property values in Lakeland, Tennessee during the period 2001-2005. The influence of canopy cover was evaluated on the lot within buffers of 100m, 500m, and 1km surrounding the lot. The study shows that canopy cover on the lot was not a significant contributor to property values while canopy cover in the buffers had a significant positive influence on home sales prices. Results also indicate that the increased property values lead to increased municipal tax revenues of 1.2-1.7% for every 10% increase in canopy cover. Results of this study can be used to develop similar processes and analyses leading to subsequent benefit-cost ratios for urban forestry programs while providing guidance on strategic tree retention and replacement efforts.</p> |
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