Is it possible to give financial value to green (like parks) in a city?

Local governments can decide to use property for buildings or keep it green, like a park for example. To build on the land would be more valuable cause it increases incomes. Is there a way to give a financial value to the land for all the social value it has? Thanks!



  1. 0 Votes

    Yes – there is a type of matrix used that helps determine the value.  Some examples of what is taken into consideration are the increased property value because of proximity to parks, social, recreational and health value of having a park, encouraging community union by providing a place to come together for activities,  The links below provide some additional information.

    • 0 Votes

      Dear valkyrie. Thanks a lot for your answer! It’s really usefull, especially the article of K. Wolf. In your answer you write about a certain ‘matrix’ to determine the value. Do you know where I can find more information about this? Thanks again.

    • 0 Votes

      Hello Helmer, thank you for your comment! I previously was the Chairman of our Chamber of Commerce and several of us also sat on the planning committee of the community I live and work in. From these resources, we had access to a number of pieces of information for our community – but not all communities have that type of information. On page 4 of the cfr….EDRA_Value.pdf you will see where they also reference a community constructing or accessing city, state and national databases to extrapolate economic returns and this was how we built our matrix. You would gather as much data as possible from all sources and build your decision matrix from that data. Also the references in both citations should be of help in terms of finding the information you need as well. I hope this helps!

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