The Oregonian this morning featured Geoffrey Donovan and David Butry’s study on the impact street trees have on real estate prices.
Environmental beat reporter Matthew Preusch walks with Donovan through Ladd’s Addition and also references a local real estate representative and Jennifer Karps of the Bureau of Environmental Services.
“When you think about it from a policy point of view, ‘trees are nice’ isn’t a very useful statement,” Donovan said.
Dollar signs are useful, and Donovan calculates the city’s nearly quarter million street trees provide a total boost to Portland house values of $1.53 billion. That translates into more property tax revenues.