(This information is from the ISA web
site http://www.treesaregood.com/treecare/tree_values.asp)
Almost everyone knows that trees and other living plants
are valuable. They beautify our surroundings, purify our air, act as sound
barriers, manufacture precious oxygen, and help us save energy through
their cooling shade in summer and their wind reduction in winter.
However, many people don't realize that plants have a dollar value of
their own that can be measured by competent plant appraisers.
If your trees or shrubs are damaged or destroyed, you may be able to
recapture your loss through an insurance claim or as a deduction from your
federal income tax.
Some Practical Advice
Here is some practical advice that may help you find out
what your trees and plants are worth.
Planning for Highest Value
A professional in the tree, nursery, or landscape industry can help you
plan, develop, install, and care for all of your trees and plants so that
each of them will be worth more to you.
How Your Trees and Shrubs Are Evaluated
Seek the advice of professionals in this field who have developed a set of
guidelines for the evaluation. These guidelines have been widely adopted
in the field and are recognized by insurance companies, the courts, and in
some cases, the Internal Revenue Service (IRS).
What to Do If You Suffer Loss or Damage to Your
Landscape Plants A casualty loss is defined by the IRS as ". . . a
loss resulting from an identifiable event of sudden, unexpected or unusual
nature." This can include such things as vehicular accidents, storms,
floods, lightning, vandalism, or even air and soil pollution.
If you suffer damage to trees or landscaping from any type of casualty,
first consult your homeowner's insurance policy to determine the amount
and kind of coverage. Contact the insurance company to have an appraisal
made by a competent tree and landscape professional who is experienced in
plant appraisal. Have the appraisal made right after your loss or damage.
The tree and landscape appraiser accomplishes many things for you. The
professional can see things you might miss, help correct damage, and
prescribe remedies you may be able to do yourself. The appraiser will
establish the amount of your loss in financial terms, including the cost
of removing debris and making repairs as well as replacements. All of this
is a wise investment, and well worth the cost you may incur for the
inspection.
Four Factors in Professional Evaluation of Trees and
Other Plants
1. Tree size. Sometimes the
size and age of a tree are such that it cannot be replaced. Trees that are
too large to be replaced should be evaluated by professionals who use a
specialized appraisal formula.
2. The kind of tree (or its
classification). Choose the species for its utility and adaptability. Tree
values vary according to your region, the "hardiness" zone, and even state
and local conditions. If you are not familiar with these variables, be
sure your advice comes from a competent source.
Trees that are hardy, durable, highly adaptable, and free from
objectionable characteristics are most valuable. They require less
maintenance; they have sturdy, well-shaped branches, and pleasing foliage.
3. Condition of the tree, shrub, or plant.
The professional will also consider the condition of the plant. Obviously,
a healthy, well-maintained plant will have a higher value. Roots, trunk,
branches, and buds need to be inspected before determining tree condition.
4. Location of the plant. There are
functional considerations as well as aesthetic. This is where location
factors into the evaluation. A tree in your yard may be worth more than
one growing in the woods. One standing alone will often have a higher
value than one in a group. A tree near your house or one which is a focal
point in your landscape tends to have more value. The site, placement, and
contribution of a tree help determine the overall value of the plant
attributable to location.
All of these factors can be measured in dollars and cents. They can
determine the value of a tree, specimen shrubs or evergreens, and whether
for insurance purposes, court testimony in lawsuits, or for tax
deductions.
