valuing vegetation in an urban watershed
TRANSCRIPT
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Valuing Vegetation in an Urban Watershed
Jonathan KadishPomona College
Noelwah R. NetusilReed College
July 1, 2009
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Multnomah County
SE
NE
N
NW
SW
Willam
ette River
Columbia River
Gresham
Portland
Lake
OswegoMetro Jurisdiction
Boundary
Outer Northeast
0 2 41Miles
¯
Study Area: Multnomah County within Metro’s Jurisdiction
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Study Area
Oaks Bottom Wildlife Refuge Portland, Oregon
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Study Area
• Regional Government (Metro)
Oaks Bottom Wildlife Refuge Portland, Oregon
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Study Area
• Regional Government (Metro)
• Urban growth boundary
Oaks Bottom Wildlife Refuge Portland, Oregon
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Study Area
• Regional Government (Metro)
• Urban growth boundary
• Combined sewer system
Oaks Bottom Wildlife Refuge Portland, Oregon
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Study Area
• Regional Government (Metro)
• Urban growth boundary
• Combined sewer system
• Eight months of rain
Oaks Bottom Wildlife Refuge Portland, Oregon
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Study Area
• Regional Government (Metro)
• Urban growth boundary
• Combined sewer system
• Eight months of rain
• Water quality
Oaks Bottom Wildlife Refuge Portland, Oregon
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Study Area
• Regional Government (Metro)
• Urban growth boundary
• Combined sewer system
• Eight months of rain
• Water quality
• Combined Sewer Overflow Projects
Oaks Bottom Wildlife Refuge Portland, Oregon
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Study Area
• Regional Government (Metro)
• Urban growth boundary
• Combined sewer system
• Eight months of rain
• Water quality
• Combined Sewer Overflow Projects
• New focus on residential properties
Oaks Bottom Wildlife Refuge Portland, Oregon
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Research Questions
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Research Questions
• Is there a relationship between the sale price of single-family residential properties and land cover types?
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Research Questions
• Is there a relationship between the sale price of single-family residential properties and land cover types?
• Do different land cover types on a property have a different effect on its sale price?
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Research Questions
• Is there a relationship between the sale price of single-family residential properties and land cover types?
• Do different land cover types on a property have a different effect on its sale price?
• Does land cover on surrounding properties have an effect on a property’s sale price?
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Previous Research
• Trees and Tree CanopyAnderson and Cordell (1988)Donovan and Butry (2009)Netusil et al. (forthcoming)
• VegetationDes Rosiers et al. (2002) Kestens et al. (2004) Mansfield et al. (2005)
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Property Data
Variable Mean Standard Deviation Minimum Maximum
Real Sale Price
(2007 dollars)$310,121 $190,816 $53,135 $4,349,733
Lot Square Footage 7,718 19,378 808 1,751,131
Building Square
Footage1,933 869 360 35,680
Age 53.4 31.77 0 137
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Land Cover Data: On-Property
Mean Standard Deviation Minimum Maximum
High Structure Vegetation 26.08% 22.13% 0 100%
Low Structure Vegetation 29.67% 19.18% 0 100%
Impervious Area 44.24% 19.60% 0 100%
Open Water 0.01% 0.57% 0 72.61%
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On-Property Land Cover
High Structure
Low Structure Impervious
Property 1 84.77% 0% 15.23%
Property 2 26.07% 29.66% 44.26%
Property 3 0% 61.01% 38.99%
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Buffers
High Structure
Low Structure Impervious
200 foot 36.83% 17.45% 45.72%
200 foot-1/4 mile 57.33% 16.64% 26.04%
1/4 mile-1/2 mile 46.08% 23.46% 30.46%
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Land Cover: Within 200 Feet
Mean Standard Deviation Minimum Maximum
High Structure Vegetation 25.59% 14.58% 0 99.91%
Low Structure Vegetation 28.23% 10.33% 0 90.19%
Impervious Area 46.09% 13.22% 0 96.64%
Open Water 0.09% 1.53% 0 67.71%
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Model
• 42,722 single-family residential transactions
• January 1, 2005-December 31, 2007
• Semi-log specification
• A priori expectations about water and vegetation variables
• Impervious surface is the excluded category
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Results: On Property
Variable Name Estimated Coefficients (robust standard errors)
High Structure Vegetation 0.0896***(0.0169)
High Structure Vegetation Squared
-0.143***(0.0224)
Low Structure Vegetation 0.0422*(0.0224)
Low Structure Vegetation Squared
-0.105***(0.0332)
Open Water -0.333(0.316)
***p< 0.01, **p< 0.05, *p<0.1Impervious Surface is the excluded category
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Calculations
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Calculations
• 31.33%: Amount of on-property high structure vegetation that maximizes sale price
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Calculations
• 31.33%: Amount of on-property high structure vegetation that maximizes sale price
• 26.08%: Average for properties in our study
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Calculations
• 31.33%: Amount of on-property high structure vegetation that maximizes sale price
• 26.08%: Average for properties in our study
• Estimated increase in sale price of $122
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Calculations
• 31.33%: Amount of on-property high structure vegetation that maximizes sale price
• 26.08%: Average for properties in our study
• Estimated increase in sale price of $122
• Present discounted cost: $230+
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Calculations
• 31.33%: Amount of on-property high structure vegetation that maximizes sale price
• 26.08%: Average for properties in our study
• Estimated increase in sale price of $122
• Present discounted cost: $230+
• Private benefits < private costs
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Results: Within 200 Feet
Variable Name Estimated Coefficients (robust standard errors)
High Structure Vegetation 0.138***(0.0332)
High Structure Vegetation Squared
0.0224(0.0509)
Low Structure Vegetation 0.350***(0.0576)
Low Structure Vegetation Squared
-0.342***(0.0872)
Open Water 0.932***(0.148)
***p< 0.01, **p< 0.05, *p<0.1Impervious Surface is the excluded category
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Results: 200 Feet to 1/4 Mile
Variable Name Estimated Coefficients (robust standard errors)
High Structure Vegetation 0.374***(0.0536)
High Structure Vegetation Squared
-0.0329(0.0792)
Low Structure Vegetation 0.392***(0.104)
Low Structure Vegetation Squared
-0.315***(0.0885)
Open Water 0.315***(0.0885)
***p< 0.01, **p< 0.05, *p<0.1Impervious Surface is the excluded category
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Results: 1/4 Mile to 1/2 Mile
Variable Name Estimated Coefficients (robust standard errors)
High Structure Vegetation 0.556***(0.0584)
High Structure Vegetation Squared
-0.298***(0.0846)
Low Structure Vegetation 0.812***(0.112)
Low Structure Vegetation Squared
-0.683***(0.173)
Open Water 0.479***(0.046)
***p< 0.01, **p< 0.05, *p<0.1Impervious Surface is the excluded category
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ResultsReal Sale Price
Real Sale Price
Real Sale Price
Real Sale Price
High Structure Vegetation: on property & 1/2-mile buffer
Low Structure Vegetation: all areasWater: on property
Water: 200 foot, 1/4 mile and 1/2
mile buffers
High Structure Vegetation: 200 foot & 1/4-mile
buffers
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Overall Benefits• Increase in high structure vegetation in
surrounding buffers also has a positive effect on sale price
• Per-acre benefit is largest for increasing on-property high structure vegetation
• Other benefits may not be included in our estimates: water flow, water quality, carbon sequestration, air quality, aesthetics, wildlife habitat, etc.
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Policies• 35%-40%: Target tree canopy for residential
areas set in Portland’s Urban Forest Action Plan
• Incentive programs: Clean River Rewards, Ecoroof grant program, etc.
• Tax incentives: proposed riparian and upland tax credits
• Education: Portland Stormwater Marketplace
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Jonathan KadishPomona College
Noelwah R. NetusilReed College
Questions?
Niko Drake-McLaughlinCaleb FassettLori Hennings
Justin HoukRoberta Jortner
Seth KadishGary OdenthalClaire Puchy
Matt SummersSchultz Environmental Studies
Award, Pomona College
Thanks to:
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High Structure Low Structure Impervious
Property 1 84.77% 0% 15.23%
Property 2 26.07% 29.66% 44.26%
Property 3 0% 61.01% 38.99%