by GH Donovan, DT Butry
Arborist News August:52-552008
This article, written for a lay audience, contrasts two market-based methods of assessing the values of trees: the sales comparison method and hedonic valuation. In both cases, it is assumed that different attributes (additional bedrooms, more land, a garage, trees) change the sales price of houses. The two differ in terms of the required inputs, the degree to which expert knowledge affects the results, and the suitable applications of the results. The basics of the two methods are described, and the authors’ previous work applying hedonic valuation in Portland, OR, is summarized.