Trees Makes Cents Emily Perry, 2017 What can your trees do for you? I mean, what are they really worth? This may seem like a silly question, trees are nice, but can you really put a dollar value on them? Actually, yes. Trees can provide numerous services vital to our communities which can be equated to dollars and cents. Sadly, these monetary benefits are often overlooked when evaluating the worth of urban “green” infrastructure.
It can be challenging to identify and calculate the complex economic value of trees because many of their benefits are “intangible.” The benefits are also broad in scope and reach, providing a variety of benefit to the entire community rather than to a single person. But some of these benefits do come straight to you when there are trees close to your home. These are benefits like reducing the risk of flooding, helping to cool and insulate your home, and raising your property value. Let’s look at each of these more closely.
It has been found in numerous studies that having trees and bushes around your home can help to reduce the risk of flooding, stormwater runoff, and maintenance costs. A mature tree can store 50 to 100 gallons of water during large storms.[1] On a larger scale, urban forests can reduce stormwater runoff by 2–7% a year.[2] Street trees in New York City head off an impressive 890 million gallons of stormwater annually: 1,525 gallons per tree on average, with a total value of over $35 million each year.[3] So not only do trees reduce flooding at your house, but they also help to reduce the burden on our sewer system which works out to savings city wide.
Trees around your home can also impact your heating and cooling needs. The shade of a tree can reduce the use of air conditioners which reduces your electrical bill. A US Forest Service study showed that one healthy shade tree can reduce air conditioning needs by 30%. The same study showed that trees and shrubs act as a wind barrier in the winter and insulate your home reducing heating needs by 20-50%.
Another way trees can save you money is by having a positive impact on your health. Trees throughout a neighborhood will filter the air, cooler temperatures, and increase mental wellbeing which all immensely improve your quality of life. By living an environment that sustains and promotes greater health you can avoid a number of chronic and acute health problems such as asthma, heat exhaustion, and high stress, all resulting in fewer trips to the doctor.
The benefits we have already discussed result in monetary savings rather than deposits, but the result is the same for you: more money in your bank account. However, there is at least one way you can make money off of trees on your property and even your neighbor’s property. Trees on your property can significantly raise your property value, and as with all benefits of trees, the more mature and healthy the tree is the greater the impact. Studies have found an increase of up to 37% in residential property values corresponding to the presence of trees and vegetation on a property.[4] So, if you’re planning to sell your house in the future, plant some trees now.
Each of the benefits of trees we have examined have been tested and shown to have real impacts on people’s lives. In other words, we know that the dollars and cents add up. In a paper published by the Journal of Forestry the methods for placing a value on the urban forest and the results of those evaluations were examined and the article concluded that, “although sometimes taken for granted, municipal forests are a dynamic resource and valuable community asset.” It is quite remarkable to recount all the good trees can do just by existing — we need to do little more than allow our trees to thrive, and as a result, we receive the numerous benefits they provide. With this, it is our hope that you will decide to plant more trees on your property, as it really does “pay” to take care of your trees![5]
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Would you like to know more about the value the trees in your neighborhood? Casey Trees and Davey Tree Expert Co. has developed a tool called “National Tree Benefit Calculator” using the information provided by i-Tree, an online software tool for quantifying risk and environmental services of trees. By simply entering a bit of information about a tree (like its location, species, and size) anyone can get an idea of its the environmental and economic value. Try it for yourself to see how much money you could be saving!
All sources in this article were found a comprehensive document published by the Alliance for Community Trees (ACTrees): “Benefits of Trees and Urban Forests: A Research List.”
[1] Fazio, Dr. James R. "How Trees Can Retain Stormwater Runoff." Tree City USA Bulletin 55. Arbor Day Foundation. Web.
[2] Fazio, Dr. James R. "How Trees Can Retain Stormwater Runoff." Tree City USA Bulletin 55. Arbor Day Foundation. Web.
[3] Peper, Paula, E. Gregory McPherson, James Simpson, Shelley Gardner, Kelaine Vargas, Qingfu Xiao. “New York City, New York Municipal Forest Resource Analysis.” USDA Forest Service, Pacific Southwest Research Station and Center for Urban Forest Research, 2007. Web.
[4] Foster, Josh, Ashley Lowe, and Steve Winkelman. The Value of Green Infrastructure for Urban Climate Adaptation. Rep. Center for Clean Air Policy, 2011. Web.
[5] McPherson, E.G, et al. Midwest community tree guide: benefits, costs, and strategic planting. U.S. Department of Agriculture, Forest Service, Northeastern Area State and Private Forestry, 2005. Web.
