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Introduction- Property Value

Introduction- Property Value. How are other researchers evaluating stacked ecosystem services? Payments for Ecosystem Services. Introduction- Property Value. How are we evaluating stacked ecosystem services? Property Value vs. Stacked Ecosystem Service Value

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Introduction- Property Value

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  1. Introduction- Property Value • How are other researchers evaluating stacked ecosystem services? • Payments for Ecosystem Services

  2. Introduction- Property Value • How are we evaluating stacked ecosystem services? • Property Value vs. Stacked Ecosystem Service Value • Stack One: Nutrient Retention, Carbon Sequestration, Pollination • Stack Two: Carbon Storage, Water Runoff • In an area with rapid development and increasingly high land values, will the value of stacked services be able to compete? • Is there potential for creating markets for carbon storage and water runoff?

  3. Study Site • Upper Neuse River Basin, Central North Carolina • Current Population = 190,000 • Projected Population in 2025 = 280,000 www.unrba.org

  4. Property Value Methods • Property Value • Taken from Triangle Land Conservancy • Convert Property Value to $/900 sq-m (30 meter resolution) • 20 year values

  5. Property Value Methods • Division of Quantiles • Property value ($) divided by stacked ecosystem service value ($) • Order of Magnitude • No Data • Ecosystem Service Value is 0 • No data on property value: Govt. Owned Sites

  6. Nutrient Retention Methods • Nitrogen Loading Caps • NCAC 15A Rule .0234 and .0279.Rule .0234 (6) (A) • Cost • NC DENR/DWQ WARMF Report • Estimates nitrogen offset rate of $44/lb of nitrogen • Translates to $97/kg for a 20 year period at 1% discount rate*

  7. Water Runoff Methods • InVEST Water Yield Model • Convert all agricultural and forest land cover/land use data to urban • Assume change in water yield is the run-off expected • Costs of storm-water BMP’s for Upper Neuse River Basin • Substituted values for study performed in Mecklenburg County, NC (American Forests, 2010) • Unit cost of $2-6/cubic ft to mitigate additional storm-water runoff

  8. Carbon Methods • Carbon Storage • Output from InVEST model • Social Cost: $154/tCO2 (Frankhauser and Tol 1996) • Current European Market Cost: $74/tCO2 • Carbon Sequestration • Annual NPP for each land cover in watershed at both social and middle cost • 20 year period with 1% discount rate

  9. Pollination Methods • InVEST Model Output • Normalize relative scale • Reclassify to percentiles • Managed Pollinator Estimate • Best Pollination Service Dollar Value: • $50 for 1 pallets, 1 acre, 1 season • INPUT VALUE = $300 for 2 pallets, 1 acre, year = 3 seasons • Convert $/acre to $/pixel at 30 meter resolution • 20 year value with a 1% discount rate*

  10. Stacked ES Values Methods Overlay all value maps: Areas of high dollar value for ES are lighter.

  11. Stacked ES Values Methods • One-time ES costs • Carbon Storage • Water Runoff • 20-Year Value • Carbon Sequestration • Nutrient Retention • Pollination

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