caa a22 4500 467902178 CHVBK 20180406152821.0 cr unu---uuuuu 170328e20060501xx s 000 0 eng 10.1007/s10661-006-7245-x doi (NATIONALLICENCE)springer-10.1007/s10661-006-7245-x Jim C. Department of Geography, The University of Hong Kong, Pokfulam Road, Hong Kong aut Formulaic Expert Method to Integrate Evaluation and Valuation of Heritage Trees in Compact City [Elektronische Daten] [C. Jim] Urban trees serve important environmental, social and economic functions, but similar to other natural endowments they are not customarily depicted in monetary terms. The needs to augment protection, funding and community support for urban greening call for proper valuation. Heritage trees (HTs), the cream of urban-tree stock, deserve special attention. Existing assessment methods do not give justice to outstanding trees in compact cities deficient in high-caliber greenery, and to their social-cultural-historical importance. They artificially separate evaluation from valuation, which should be a natural progression from the former. Review of tree valuation methods suggested the formula approach to be more suitable than contingent valuation and hedonic pricing, and provided hints on their strengths and weaknesses. This study develops an alternative formulaic expert method (FEM) that integrates evaluation and valuation, maximizes objectivity, broadly encompasses the key tree, tree-environment and tree-human traits, and accords realistic monetary value to HTs. Six primary criteria (dimension, species, tree, condition, location, and outstanding consideration) branched into 45 secondary criteria, each allocated numerical marks. Each primary criterion was standardized to carry equal weight, and a tree's maximum aggregate score is capped at 100. A Monetary Assignment Factor (MAF) to consign dollar value to each score unit was derived from three-year average per m2 sale price of medium-sized residential flats. The applicability of FEM was tested on selected HTs in compact Hong Kong. The aggregate score of a tree multiplied by MAF yielded monetary value, which was on average 66 times higher than the result from the commonly-adopted Council of Tree and Landscape Appraisers method. The computed tree values could be publicized together with multiple tree benefits to raise understanding and awareness and rally support to protect HTs. The property-linked FEM could be flexibly applied to other cities, especially to assess HTs in compact developing cities. Springer Science + Business Media, Inc., 2006 compact city nationallicence formulaic expert method nationallicence heritage tree nationallicence monetary value nationallicence property-linked valuation nationallicence tree evaluation nationallicence tree protection nationallicence tree valuation nationallicence urban ecology nationallicence urban tree nationallicence Environmental Monitoring and Assessment Kluwer Academic Publishers 116/1-3(2006-05-01), 53-80 0167-6369 116:1-3<53 2006 116 10661 https://doi.org/10.1007/s10661-006-7245-x text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10661-006-7245-x text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Jim C. Department of Geography, The University of Hong Kong, Pokfulam Road, Hong Kong aut NATIONALLICENCE 773 0- Environmental Monitoring and Assessment Kluwer Academic Publishers 116/1-3(2006-05-01), 53-80 0167-6369 116:1-3<53 2006 116 10661 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer