72 Ponce-Donoso et al.: Appraisal Using Twelve Valuation Formulas and Two Appraiser Groups Arboriculture & Urban Forestry 2017. 43(2):72–82 Appraisal of Urban Trees Using Twelve Valuation Formulas and Two Appraiser Groups Mauricio Ponce-Donoso, Óscar Vallejos-Barra, and Francisco J. Escobedo Abstract. Monetary valuation using urban tree appraisals can be performed with formulas, a common practice in many countries. This study compares twelve parametric type formulas: Amenity Valuation of Tree and Woodlands (Helliwell), Standard Tree Evalua- tion Method (STEM), French Method, Italian Method, Tedesco, Norma Granada, Trunk Replacement Formula (CTLA), Burn- ley Method, Danish Method, Swiss Method, and two Chilean formulas used in Municipalities of Concepción, La Pintana, and Maipú (COPIMA Method), and Peñalolén Method. Formulas were then applied to 30 trees located in Santiago, Talca and Concepción, Chile. Researchers used eight appraisers divided into two groups, according to senior-level and junior-level expe- rience. Statistical differences were determined using the Kruskal-Wallis test of non-parametric vari- ance, while Fisher’s least significant difference test was used to identify homogeneous groups. The results show a wide dispersion of values that were high for “emblematic” trees and low for young or low-vigor trees. Formula, type of appraisers, and inter-appraiser differences formed nine, two, and three groups, respectively. The lowest-appraised trees were obtained using the Danish and French Method, while the highest values were obtained with the Burnley, Helliwell, and STEM formulas. Although there were differences in tree value according to the type of appraiser, when comparing difference among appraisers, researchers found these were not due to experience level. Given the wide range of values found, the study authors cannot recommend any specific formula(s) for assessing urban trees, as results will depend on the variables of interest used in the formulas and their intended application and use. Key Words. Arboriculture; Parametric Formulas; Tree Assessment; Tree Valuation; Urban Forest Benefits. Urban trees are defined as trees found in areas lo- cated in urban or peri-urban areas (Tyrväinen et al. 2003), in residential and commercial sidewalks, parks, greenbelts, industrial parks, and vacant lots, among other land uses (Cordell et al. 1984). Differ- ent authors acknowledge their contribution to the sustainability of cities and their role as an economic asset (Tyrväinen et al. 2003; Konijnendijk et al. 2004; Ponce-Donoso et al. 2009). While recognizing the difficulty in determining the monetary value of ur- ban trees, there are several available methods for cal- culating this value (Caballer 1999; Tyrväinen 2001; Watson 2002; Price 2003; Grande-Ortiz et al. 2012). The most common appraisal method for monetary valuation of urban trees is using formulas (Watson 2001), which are commonly of two types: paramet- ric and capitalization. Parametric, also known as multiplication, is defined as the quantification of one or more variables, including both structural ©2017 International Society of Arboriculture and other subjective ones (e.g., aesthetics, botanical, location, or significance), which, as recommended, should be performed by experienced appraisers, as they are not always accurate (Price 2003). Capital- ization formulas use more conventional economet- ric methods (Grande-Ortiz et al. 2012). Chueca (2001) has indicated that these formulations re- quire that the subjectivity of the variables used be reduced in the applied formulas. Hence, some professionals recommend the use of capitaliza- tion type formulas for their simplicity, while others prefer the parametric formula, stating that it better reflects the true total economic value of the tree (Pe- tersen and Straka 2011; Grande-Ortiz et al. 2012). Currently, several studies are assessing the dif- ferent ecosystem services provided by urban trees, such as property value increases, carbon sequestra- tion, reduction of noise and pollutants, energy use savings, and others for different conditions and
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