Estimating Value Contribution of Tree and Stand Condition

R. Joss Hanna, Law and Economics Consulting Group, Inc.
Richard P. Thompson, California Polytechnic State University - San Luis Obispo
Douglas D. Piirto, California Polytechnic State University - San Luis Obispo
Jay E. Noel, California Polytechnic State University - San Luis Obispo

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Abstract

Key issues in encouraging forest management at the interface level in the oak woodlands are fire abatement, stand improvement, infection reduction, and hazard tree removal. The development of effective management prescriptions for stand improvement and economic returns provide guidance for homeowners, appraisers, and realtors. The purpose of this research project was to determine the effects of stand characteristics (e.g., structure, density and health) on the value of urban/interface forested properties. In this study, the forest characteristic coefficients were statistically significant with an estimated value contribution of about $30,000 each, or over 22 percent of the median property’s value ($262,079).