Earth and Space News: Plant Appraisal: Cost and Value Estimates and Economic Principles

Summary: An article in Arborist News December 2018 examines cost and value estimates and economic principles in plant appraisal of landscape elements and services.

Plant appraisal's consideration of the economic principle of anticipation applies to Christmas tree farms; color variations in blue spruce trees (Picea pungens), which are often sold as living Christmas trees, with root balls included, for planting after the holidays: Steven Katovich, USDA Forest Service, Bugwood.org, CC BY 3.0, via Forestry Images

The article Core Concepts of Plant Appraisal in Arborist News December 2018 applies "the act or process of formulating an opinion of a defined cost or value" to landscape assets like plants.

The Council of Tree & Landscape Appraisers broaches price as "observable data point" in the "amount of money asked, offered, or paid for property or services." It correlates, or not, with cost as estimated or factual reproduction or replacement "amount of money required to create, produce, or obtain a property or service." Value, as "monetary worth of an item at a given time," discerns "expectation of future benefits in the minds of sellers, buyers, and users of assets."

Item price elucidates, or not, item cost and value even as item cost expresses "more or less than," or even "little or no relationship to," value.

Cost estimate approaches respectively furnish reproduction, functional replacement and repair costs for landscape replicas, equivalently useful landscape items and "decay, wear and tear, or partial destruction."

Cost-value depreciation gauges external obsolescence, functional obsolescence and physical deterioration for the respective "monetary expression of suboptimum" biology, environment, legality; placement, quantity, size; form, health, structure. Plant appraisal handles cost, not willingness to pay, and depreciation for commonest, supply and demand market values estimated by appraisers and determined by buyers and sellers. The non-market valuation method, as value estimate from willingness to pay, infers price data from attendance and taxes for city green spaces, public parks and trails.

Plant appraisal juxtaposes such sometimes quantifiable, sometimes not, tangible benefits of energy-saving, fruiting landscape items and objectively semi-unmeasurable, variable intangible values of aesthetics, privacy and sentimentalism.

Plant appraisal keeps to "reasonable" industry standards and away from personal, subjective intangible values that perhaps know no impersonally, objectively perceived marketplace utility or transactional behavior.

Obvious current property use and neighborhood characteristics locate highest and best use market value, as "reasonably probable use of property that results in the highest value." Feasible, legal, productive, realizable highest and best-use market value estimates manifest willingness to pay for installed materials and plants as personal property makeovers into real estate. Such production costs and property values nod to the economic principle of substitution that lowest-priced commodities, goods and services net the "greatest demand and widest distribution."

Income approaches to plant appraisal observe the economic principle of anticipation whereby expectation of future benefits occasions Christmas tree farm, orchard, timber property and vineyard value.

Anticipation principles and income approaches pursue "present value of future net cash flow" since plant appraisal uniquely presents assets increasing, not decreasing, in size over time.

Economic principles of balance and diminishing returns quantify optimally combined improvements and land and popular quests for unimproved lots with few, not many or no, trees. The economic principle of contribution regards a component's contributory value to the entire property and the result on the overall property value of that component's removal. The economic principle of consistent use sustains savvy market value analysis that supports property values from same-use improvements on same-use land, not different-use improvements and lands.

The economic principle of conformity tethers plant appraisal cost-value estimates to the added value of healthy landscape elements for high-value, well-maintained, not for low-value, non-maintained, properties.

Plant appraisals consider the economic principle of anticipation in cost-value estimates of intentional plantings, such as Christmas tree farms, orchards, timber property and vineyards; Agiorgitiko red wine grape (Vitis vinifera) vineyard in Stymfalia, northeastern Peloponnese, southern Greece; May 16, 2006: Ulrichstill, CC BY-SA 2.0 DE, via Wikimedia Commons

Acknowledgment

My special thanks to:
talented artists and photographers/concerned organizations who make their fine images available on the internet;
University of Illinois at Urbana-Champaign for superior on-campus and on-line resources.

Image credits:

The Council of Tree & Landscape Appraisers. December 2018. "Core Concepts of Plant Appraisal." Arborist News 27(6): 12-17.

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Available @ https://earth-and-space-news.blogspot.com/2018/12/six-year-forest-health-ambassador.html

Marriner, Derdriu. 21 October 2018. "Nursery Production Systems: Tough Urban Landscape Trees on Rough Sites." Earth and Space News. Sunday.
Available @ https://earth-and-space-news.blogspot.com/2018/10/nursery-production-systems-tough-urban.html

Marriner, Derdriu. 16 September 2018. "Induced-Resistance Agents, Silicon Fertilizers, Synthetic Fungicides." Earth and Space News. Sunday.
Available @ https://earth-and-space-news.blogspot.com/2018/09/induced-resistance-agents-silicon.html

Marriner, Derdriu. 26 August 2018. "Nursery Production Systems for Successful Urban Tree Plantings." Earth and Space News. Sunday.
Available @ https://earth-and-space-news.blogspot.com/2018/08/nursery-production-systems-for.html

Marriner, Derdriu. 29 July 2018. "Tree Roots Branch in Fabric Containers But Circle and Girdle Plastic." Earth and Space News. Sunday.
Available @ https://earth-and-space-news.blogspot.com/2018/07/tree-roots-branch-in-fabric-containers.html

Marriner, Derdriu. 30 June 2018. "Wood Decay Fungi Management of Terminal Urban Pathogens." Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2018/06/wood-decay-fungi-management-of-terminal.html

Marriner, Derdriu. 27 May 2018. "Downtown Commercial Streetscape Tree Populations in Toronto, Canada." Earth and Space News. Sunday.
Available @ https://earth-and-space-news.blogspot.com/2018/05/downtown-commercial-streetscape-tree.html

Marriner, Derdriu. 28 April 2018. “Mushroom-Forming and Non-Mushroom-Forming Fungal Life Cycle Traits.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2018/04/mushroom-forming-and-non-mushroom.html

Marriner, Derdriu. 17 March 2018. “Emerald Ash Borer Rapid Response Community Preparedness Project.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2018/03/emerald-ash-borer-rapid-response.html

Marriner, Derdriu. 17 February 2018. “Tree Retention by Arborists for Wildlife Habitat Friendly Tree Care.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2018/02/tree-retention-by-arborists-for.html

Marriner, Derdriu. 14 January 2018. “Integrated Vegetation Management Study in North and South Yukon, Canada.” Earth and Space News. Sunday.
Available @ https://earth-and-space-news.blogspot.com/2018/01/integrated-vegetation-management-study.html

Marriner, Derdriu. 9 December 2017. “Tree Inventories: Preemptive and Proactive or Piecemeal and Reactive.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2017/12/tree-inventories-preemptive-and.html

Marriner, Derdriu. 25 November 2017. “Chlorantraniliprole Reduced-Risk Insecticides Get Leaf-Eaters Not Bees.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2017/11/chlorantraniliprole-reduced-risk.html

Marriner, Derdriu. 28 October 2017. “Palm Plant Health Care: Abiotic, Biotic Stress Culture and Management.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2017/10/palm-plant-health-care-abiotic-biotic.html

Marriner, Derdriu. 16 September 2017. “Predawn Leaf Water Potentials Indicate Crown Dieback and Water Status.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2017/09/predawn-leaf-water-potentials-indicate.html

Marriner, Derdriu. 19 August 2017. “Palm Tree Identification and Pruning of Native and Naturalizable Palms.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2017/08/palm-tree-identification-and-pruning-of.html

Marriner, Derdriu. 22 July 2017. “Commonly Planted, Potentially Phytoremediating Street Tree Species.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2017/07/commonly-planted-potentially.html

Marriner, Derdriu. 17 June 2017. “Root Loss From Root Pruning and Root Shaving of Stem-Girdling Roots.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2017/06/root-loss-from-root-pruning-and-root.html

Marriner, Derdriu. 27 May 2017. “Age and Canopy Area Cost Less and Tell More in Urban Tree Inventories.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2017/05/age-and-canopy-area-cost-less-and-tell.html

Marriner, Derdriu. 22 April 2017. “Urban Root Management: Big Infrastructure, Small Space, Stressed Roots.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2017/04/urban-root-management-big.html

Marriner, Derdriu. 12 March 2017. “Flexural Elasticity Modulus: Trees and Watersprouts Bend or Break.” Earth and Space News. Sunday.
Available @ https://earth-and-space-news.blogspot.com/2017/03/flexural-elasticity-modulus-trees-and.html

Marriner, Derdriu. 18 February 2017. “Plant Health Care Diagnostics When Plants and Places Wrong One Another.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2017/02/plant-health-care-diagnostics-when.html

Marriner, Derdriu. 14 January 2017. “Tree Fertilization for Fine Root Growth and Whole Root System Effects.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2017/01/tree-fertilization-for-fine-root-growth.html

Marriner, Derdriu. 17 December 2016. “Abiotic and Biotic Stress in Low Maintenance Tree Health Care Programs.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2016/12/abiotic-and-biotic-stress-in-low.html

Marriner, Derdriu. 19 November 2016. “Organic Amendments to Compacted Degraded Urban Highway Roadsides.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2016/11/organic-amendments-to-compacted.html

Marriner, Derdriu. 15 October 2016. “Tree Protection Zones by Arborists for All Construction Project Phases.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2016/10/tree-protection-zones-by-arborists-for.html

Marriner, Derdriu. 17 September 2016. “Stormwater Runoff Landscaping With Urban Canopy Cover and Groundcover.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2016/09/stormwater-runoff-landscaping-with.html

Marriner, Derdriu. 13 August 2016. “Changing Places: Tree Nutrient Movement Down, Tree Water Movement Up.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2016/08/changing-places-tree-nutrient-movement.html

Marriner, Derdriu. 16 July 2016. “Treated or Untreated Oriental Bittersweet Vine Management Cut-Stumping.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2016/07/treated-or-untreated-oriental.html

Marriner, Derdriu. 18 June 2016. “Tree Injection Site Procedures: Manufacturer's Instructions and Labels.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2016/06/tree-injection-site-procedures.html

Marriner, Derdriu. 22 May 2016. “Electrical Utility Area Temperate Urban Street Trees: Pruned Regrowth.” Earth and Space News. Sunday.
Available @ https://earth-and-space-news.blogspot.com/2016/05/electrical-utility-area-temperate-urban.html

Marriner, Derdriu. 16 April 2016. “Tree Injection Methods: Treatment Option in Integrated Pest Management.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2016/04/tree-injection-methods-treatment-option.html

Marriner, Derdriu. 6 March 2016. “Bare-Rooted Ornamental Urban Transplants: Amendments Against Mortality.” Earth and Space News. Sunday.
Available @ https://earth-and-space-news.blogspot.com/2016/03/bare-rooted-ornamental-urban.html

Marriner, Derdriu. 28 February 2016. “Bark Protective Survival Mechanisms Foil Deprivation, Injury, Invasion.” Earth and Space News. Sunday.
Available @ https://earth-and-space-news.blogspot.com/2016/02/bark-protective-survival-mechanisms.html

Marriner, Derdriu. 23 January 2016. "LITA Model: Linear Index of Tree Appraisal of Large Urban Swedish Trees." Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2016/01/lita-model-linear-index-of-tree.html

Marriner, Derdriu. 19 December 2015. “Tree Lightning Protection Systems: Site, Soil, Species True Designs.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2015/12/tree-lightning-protection-systems-site.html

Marriner, Derdriu. 24 October 2015. “Tree Lightning Protection Systems Tailored to Sites, Soils, Species.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2015/10/tree-lightning-protection-systems.html

Marriner, Derdriu. 15 August 2015. “Tree Friendly Urban Soil Management: Amend, Fertilize, Mulch, Till!” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2015/08/tree-friendly-urban-soil-management.html

Marriner, Derdriu. 13 June 2015. “Tree Friendly Urban Soil Management: Assemble, Assess, Assist, Astound.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2015/06/tree-friendly-urban-soil-management.html

Marriner, Derdriu. 18 April 2015. “Tree Wound Responses: Healthy Wound Closures by Callus and Woundwood.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2015/04/tree-wound-responses-healthy-wound.html

Marriner, Derdriu. 15 February 2015. “Urban Forest Maintenance and Non-Maintenance Costs and Benefits.” Earth and Space News. Sunday.
Available @ https://earth-and-space-news.blogspot.com/2015/02/urban-forest-maintenance-and-non.html

Marriner, Derdriu. 13 December 2014. “Tree Dwelling Symbionts: Dodder, Lichen, Mistletoe, Moss and Woe-Vine.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2014/12/tree-dwelling-symbionts-dodder-lichen.html

Marriner, Derdriu. 18 October 2014. “Tree Cable Installation Systems Lessen Target Impact From Tree Failure.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2014/10/tree-cable-installation-systems-lessen.html

Marriner, Derdriu. 16 August 2014. “Flood Tolerant Trees in Worst-Case Floodplain and Urbanized Scenarios.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2014/08/flood-tolerant-trees-in-worst-case.html

Marriner, Derdriu. 14 June 2014. “Integrated Vegetation Management of Plants in Utility Rights-of-Way.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2014/06/integrated-vegetation-management-of.html

Marriner, Derdriu. 12 April 2014. “Tree Twig Identification: Buds, Bundle Scars, Leaf Drops, Leaf Scars.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2014/04/tree-twig-identification-buds-bundle.html

Marriner, Derdriu. 15 February 2014. “Tree Twig Anatomy: Ecosystem Stress, Growth Rates, Winter Identification.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2014/02/tree-twig-anatomy-ecosystem-stress.html

Marriner, Derdriu. 14 December 2013. “Community and Tree Safety Awareness During Line- and Road-Clearances.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2013/12/community-and-tree-safety-awareness.html

Marriner, Derdriu. 13 October 2013. “Chain-Saw Gear and Tree Work Related Personal Protective Equipment.” Earth and Space News. Sunday.
Available @ https://earth-and-space-news.blogspot.com/2013/10/chain-saw-gear-and-tree-work-related.html

Marriner, Derdriu. 12 October 2013. “Storm Damaged Tree Clearances: Matched Teamwork of People to Equipment.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2013/10/storm-damaged-tree-clearances-matched.html

Marriner, Derdriu. 17 August 2013. “Storm Induced Tree Damage Assessments: Pre-Storm Planned Preparedness.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2013/08/storm-induced-tree-damage-assessments.html

Marriner, Derdriu. 15 June 2013. “Storm Induced Tree Failures From Heavy Tree Weights and Weather Loads.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2013/06/storm-induced-tree-failures-from-heavy.html

Marriner, Derdriu. 13 April 2013. “Urban Tree Root Management Concerns: Defects, Digs, Dirt, Disturbance.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2013/04/urban-tree-root-management-concerns.html

Marriner, Derdriu. 16 February 2013. “Tree Friendly Beneficial Soil Microbes: Inoculations and Occurrences.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2013/02/tree-friendly-beneficial-soil-microbes.html

Marriner, Derdriu. 15 December 2012. “Healthy Urban Tree Root Crown Balances: Soil Properties, Soil Volumes.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2012/12/healthy-urban-tree-root-crown-balances.html

Marriner, Derdriu. 13 October 2012. “Tree Adaptive Growth: Tree Risk Assessment of Tree Failure, Tree Strength.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2012/10/tree-adaptive-growth-tree-risk.html

Marriner, Derdriu. 11 August 2012. “Tree Risk Assessment Mitigation Reports: Tree Removal, Tree Retention?” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2012/08/tree-risk-assessment-mitigation-reports.html

Marriner, Derdriu. 16 June 2012. “Internally Stressed, Response Growing, Wind Loaded Tree Strength.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2012/06/internally-stressed-response-growing.html

Marriner, Derdriu. 14 April 2012. “Three Tree Risk Assessment Levels: Limited Visual, Basic and Advanced.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2012/04/three-tree-risk-assessment-levels.html

Marriner, Derdriu. 19 February 2012. “Qualitative Tree Risk Assessment: Risk Ratings for Targets and Trees.” Earth and Space News. Sunday.
Available @ https://earth-and-space-news.blogspot.com/2012/02/qualitative-tree-risk-assessment-risk.html

Marriner, Derdriu. 18 February 2012. “Qualitative Tree Risk Assessment: Falling Trees Impacting Targets.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2012/02/qualitative-tree-risk-assessment.html

Marriner, Derdriu. 10 December 2011. “Tree Risk Assessment: Tree Failures From Defects and From Wind Loads.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2011/12/tree-risk-assessment-tree-failures-from.html

Marriner, Derdriu. 15 October 2011. “Five Tree Felling Plan Steps for Successful Removals and Worker Safety.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2011/10/five-tree-felling-plan-steps-for.html

Marriner, Derdriu. 13 August 2011. “Natives and Non-Natives as Successfully Urbanized Plant Species.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2011/08/natives-and-non-natives-as-successfully.html

Marriner, Derdriu. 11 June 2011. “Tree Ring Patterns for Ecosystem Ages, Dates, Health and Stress.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2011/06/tree-ring-patterns-for-ecosystem-ages.html

Marriner, Derdriu. 9 April 2011. “Benignly Ugly Tree Disorders: Oak Galls, Powdery Mildew, Sooty Mold, Tar Spot.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2011/04/benignly-ugly-tree-disorders-oak-galls.html

Marriner, Derdriu. 12 February 2011. “Tree Load Can Turn Tree Health Into Tree Failure or Tree Fatigue.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2011/02/tree-load-can-turn-tree-health-into.html

Marriner, Derdriu. 11 December 2010. “Tree Electrical Safety Knowledge, Precautions, Risks and Standards.” Earth and Space News. Saturday.
Available @ https://earth-and-space-news.blogspot.com/2010/12/tree-electrical-safety-knowledge.html

Earth and Space News

Sunday, December 30, 2018

Plant Appraisal: Cost and Value Estimates and Economic Principles

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