POTTSTOWN – Ask most people what they value in preserving open space and they will talk about the peace and beauty of the woods, or an open field; the view it offers from their window or perhaps the preservation of the habitat of native species.
But what about cold hard cash?
As it turns out, Montgomery County’s open space has a monetary and economic value of billions of dollars (yes, “billions”) above and beyond what is paid for land or development rights – more than $4 billion, annually.
And in May, the county issued a report – “Return on Environment: The Economic Impact of Protected Open Space in Montgomery County” – to prove it.
Currently, members of the county planning commission and a group of open space advocates are touring the county to promote the report and what it says about the economic value of open space and on October 25, the that tour stopped in Pottstown at the Challenger Learning Center on the Riverfront Park campus of Montgomery County Community College.
The report outlines four major ways in which open space is an economic benefit to Montgomery County, and offers a case study for each: Home and property values; economic activity; environmental services and direct use benefits.
Stephen Wray, Senior Vice President of E-Consultant Solutions, which prepared the report, provided its findings.
Home and Property Values
Wray said first and foremost, that because Montgomery County has so much preserved open space — 46,022 acres out of 320,000 — that 92 percent of the county’s homes are located within a half mile of some form of open space. space. So that probably explains the fact that, in total $2.9 billion of value was added to that housing.
The average increase in the value of homes within a half mile was an additional $11,300. That results in $48 million in additional property tax revenue annually from homes. This comes on top of the open space tax’s impact, or rather the lack of impact. Studies show that because open space requires less municipal services and prevents the construction of houses, it keeps costs down, and taxes, especially in school districts. That’s because the cost of educating the average child at home far exceeds the property taxes it generates.
These numbers were arrived at by looking at home sales of 143 homes over a 20-year period, from 2000 to 2020 and accounting for home value differences due to other factors. , such as views of school districts, square footage, number of bedrooms and year. a house was built.
As a case study, the report looks at the 12.6-mile Green Ribbon Trail and 578-acre preserve of the same name in the towns of Upper Gwynedd, Lower Gwynedd, Whitpain, Upper Dublin, Whitemarsh and Springfield, and the borough of Ambler and North Wales.
There are 2,646 homes within a half-mile of this preserved acreage and without them, the total assessed value of those homes would drop by $87 million, or $33,184 per home, creating a $2.83 million gap. of local property taxes each year.
Economic Activity
In addition to the passive economic value provided by increased property value, there is also the economic value provided by less passive pursuits.
Three types of activities associated with open space all provide direct economic benefits: agriculture; management and maintenance costs for open space (such as jobs and costs associated with maintaining parks); and open space tourism spending association.
Montgomery County’s protected farmland has an annual impact of $8 million and supports 195 jobs, according to the study
The maintenance and care of open space in the county has an annual impact of $112 million and supports 940 jobs, according to the study.
About $39 million in annual economic activity is generated by tourism surrounding the county’s open space, which supports 420 jobs, the study found.
In the report, the economic activity surrounding the Schuylkill River Trail in Pottstown provides the case study.
EConsult sees nearly 70,000 people visit the Pottstown trail each year, Wray said, with a total economic impact of more than $8 million.
Environmental Services
A thing’s economic value is measured in money that is not spent.
The trees and plants are more than just beautiful to look at. Think of them as sponges that absorb storm water, helping to prevent flooding; absorbs carbon from air carbon; and the soil absorbs and cleans the impurities from the water.
If those things didn’t happen in the natural world, society would have to pay for services with man-made filters and solutions. Open space plants make it free.
The open space absorbs 1.7 billion gallons of storm water annually; which keeps 61,000 pounds of nitrogen, 28,000 pounds of phosphorus and 116 million pounds of sediment from our drinking water, avoiding $179 million annually in infrastructure costs.
Add $1.2 million worth of air pollution removal; $3 million in carbon sequestration; $1.8 million in wildlife habitat protection each year.
What is that worth? According to the study, more than $31 million per year.
For example, for a case study of how this works the report focuses on the Pennypack Ecological Restoration Trust, 862 acres in Upper and Lower Moreland townships and Bryn Athyn borough.
The total value of the services provided by this preserved land is $1.2 million per year, according to the report.
Direct Service
What is the value of a walk in the woods?
Well, that depends on what you want to count. For example, your cardiologist wants you to do it regularly and the value of reducing health problems as a result of all the exercise can be measured. And your therapist will definitely vouch for the benefits of nature walks on one’s mental health.
As well as the resulting reduced pressure on your health insurance and your employer’s workers compensation insurance can be measured. Loss of work productivity is also reduced due to time spent in nature, according to the study,
The study also measured what people were “willing to pay” for recreational activities in open space.
The county study looked at Norristown Farm Park as an example and nearly $700,000 in value is generated there annually for the more than 4,600 families who visit the park an average of 17 times per year as well as the more than $6 million for health problems that open up. constrained by space.
“Where can municipalities spend the dollars?” asked Dulcie Flaharty, vice chair of the Montgomery County Planning Commission and longtime land preservationist. Instead of building infrastructure that needs to be maintained and constantly updated to perform the functions that open space does all by itself, that tax money is better spent on land that “doesn’t cost anything.” if you buy it, and provides benefits that don’t go away,” he said.
“Open space preservation is a long-term effort and more often than not, it’s a long slog,” said Bill Hartman, manager of trails and open space planning for the county planning commission. “But the data shows it’s worth it and we believe data is power.”
“The bottom line is that there is a rebound around Montgomery County,” Wray said. “Those who came before invested in and protected open space for more than 100 years, and you see and reap the benefits every day. How you build on and expand those investments will be your legacy for the future.
All the data will be part of the county’s new comprehensive plan, titled “Montco 2050,” work that has already begun said Scott France, executive director of the Montgomery County Planning Commission.