Estimating the Value of Trees and Shrubs

Storms, lightning, vandalism, automobile accidents, and other incidents, can sometimes make it necessary for you to place a value on your trees and shrubs for insurance, tax or legal purposes.

Lawsuit information…

If you're trying to recover damages to your trees and shrubs by means of a lawsuit, you will need to get an evaluation from an expert. Acceptable experts for court purposes are consulting arborists, consulting foresters, representatives of tree service companies, and sometimes county agents. All of these experts will use a nationally accepted guide to determine the value of damaged or destroyed trees or shrubs.

Insurance claims…

If you're trying to recover damages by means of an insurance claim, you will need to check first with your insurance agent to determine if such damage is covered by your policy. If the damages are covered, the loss or reduction in the fair market value of your property must be determined by a real estate appraiser. Most insurance policies have a maximum that they allow for tree loss.

Tax deduction…

If you're trying to recover damages by means of a state or federal tax deduction, you will have to use the amount of fair market value not covered by the insurance. Federal tax regulations allow deductions for uncompensated losses only in excess of $100. Whether you can obtain insurance compensation or a tax deduction for the casualty loss of a tree or shrub may depend on how well you can document the before and after value of the plant. Old and new photographs, plus a written statement from an appraiser, will, in most cases, be sufficient evidence to document reasonable claims. .

For more information on estimating the value of trees and shrubs, contact your local County Extension Office.