Economic development benefits of street trees

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Over on, there's an interview with Ypsilanti City Planner Teresa on all things street tree: the trees added to West Cross as part of the recent streetscaping project, the city's tree inventory and urban forestry plan, and the public tree nursery project underway.

Mark asked whether street trees have economic development benefits, on top of the obvious quality of life benefits, and Teresa pointed to a round-up by the Arbor Day Foundation; I decided to go a little further and dig up some primary sources. Copied over here for my own future reference, plus just a little bit of math based on the first source:

$50k median taxable value in Ypsilanti * 3% increase from street trees * 33.67 mills for all local property taxes = $50.51 / year tax revenue increase due to each street tree added to an Ypsilanti home that doesn't have one.

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