Which two methods are recommended by the Council of Tree and Landscape Appraisers for valuing plants?

The Replacement Cost Method and the Trunk Formula Method are widely recognized approaches for valuing trees and landscape plants, as endorsed by the Council of Tree and Landscape Appraisers.

The Replacement Cost Method estimates the cost to replace a tree with a similar one, factoring in aspects such as species, size, and condition. This method is particularly useful for assessing the monetary value necessary to replace lost or damaged trees, emphasizing the investment made in maintaining a landscape.

The Trunk Formula Method, on the other hand, uses a formula that takes into account the tree’s diameter at breast height (DBH), species, and various factors indicating the tree's overall health and condition. This method is beneficial for valuing individual trees based on their size and growth, making it applicable in situations where trees provide significant aesthetic or environmental benefits.

These methods together provide a solid framework for valuing trees, ensuring that their worth is reflected in terms of replacement costs and individual characteristics. This comprehensive approach helps municipalities and landowners alike in understanding and justifying the value of their treescapes.