MIS506 Tree Valuation

A Minimum Industry Standard for Tree Valuation

This book is one in a series of Minimum Industry Standards produced by Arboriculture Australia Ltd and the New Zealand Arboricultural Association in consultation with the national arboriculture community in both countries. These industry peer-reviewed documents provide a ‘body of knowledge’ which is shared by practitioners and can be used as the basis for training, dissemination of skills and professional development.

This MIS covers the core standards of tree valuation for arborists in Australia and New Zealand.

CONTENTS

1: Introduction to tree valuation

1.1: The role of the Arborist

1.2: History of tree valuation

• 1.2.1: USA
• 1.2.2: Europe
• 1.2.3: Australia and New Zealand

 

2: Fundamentals

2.1: Features

2.2: Benefits

2.3: Markets

• 2.3.1: Traditional markets
• 2.3.1.1: Product market segmentation
• 2.3.2: Specialised financial markets
• 2.3.3: Social value markets

2.4: Value and price

2.5: How do these relate?

2.6: Misalignment of costs to benefits

2.7: The business of trees

 

3: Context – usage of tree valuations

3.1: Application scenarios of tree valuation usage

• 3.1.1: Asset registers
• 3.1.1.1: Asset register – valuation example
• 3.1.1.2: Maintenance budgeting and recording
• 3.1.2: The law – regulation, contracts, bonds and damages
• 3.1.2.1: Contracts
• 3.1.2.2: Bonds
• 3.1.3: Damages
• 3.1.4: Replacement costs
• 3.1.5: Economic valuation – forecasting value
• 3.1.6: Communication of tree value
• 3.1.7: Insurance for trees
• 3.1.8: Tree communities
• 3.1.8.1: A pair of trees - example
• 3.1.8.2: A forest of trees – example

3.2: Landholder scenarios of tree valuation usage

• 3.2.1: Infrastructure development
• 3.2.1.1: Social infrastructure
• 3.2.1.2: Economic infrastructure
• 3.2.2: Infrastructure maintenance and enhancement
• 3.2.3: Commercial
• 3.2.4: Private

 

4: Valuing amenity

4.1: Data types

4.2: Amenity valuation essentials

• 4.2.1: Market baseline value
• 4.2.2: Quality features
• 4.2.3: Social benefits
• 4.2.4: Significant/Notable trees and weeds

4.3: Modelling method principles and guidelines

• 4.3.1: Factors
• 4.3.2: Proxies
• 4.3.3: Cognitive bias affecting assessments

 

5: Selected current methods

5.1: Burnley

• 5.1.1: Applications and context
• 5.1.2: Method

5.2: City of Melbourne (CoM)

• 5.2.1: Applications and context
• 5.2.2: Method

5.3: Council of Tree & Landscape Appraisers

• 5.3.1: Applications and context
• 5.3.2: Method

5.4: i-Tree Eco

• 5.4.1: Applications and context
• 5.4.2: Method

5.5: Standard Tree Evaluation Method (STEMTM)

• 5.5.1: Applications and context
• 5.5.2: Method
• 5.5.3: Example

5.6: Thyer

• 5.6.1: Applications and context
• 5.6.2: Method

5.7: Standards Australia/New Zealand - historical

 

6: Minimum Industry Standard criteria

6.1: Minimum compliance criteria

6.2: Preferred compliance criteria – Amenity value

• 6.2.1: Market baseline value
• 6.2.2: Social value
• 6.2.3: Arboricultural quality
• 6.2.4: Ecological services values
• 6.2.5: Time impact and valuation data management

6.3: R&D supporting tree valuation

• 6.3.1: LiDAR
• 6.3.2: Imagery and Artificial Intelligence

6.4: MIS506/22 – a compliant tree valuation method

6.4.1: Individual tree valuation

• 6.4.1.1: Market baseline value
• 6.4.1.2: Land use factor
• 6.4.1.4: Social factor
• 6.4.1.5: Quality factor
• 6.4.2: Tree community and forecast valuations
• 6.4.2.1: Density factor

 

7: Professional requirements

7.1: Context of assessment

7.2: Providing advice on method and outcomes

7.3: Competency to perform tree valuations

7.3.1: Benchmarking and auditing valuations

7.3.2: Maintaining industry currency