Description

Tree Appraisal and the Principle of Substitution - James Komen, Tree Appraisal and the Principle of Substitution One of the foundational concepts in tree appraisal is the Principal of Substitution. A thing cannot appraise for more than a substitute of equivalent utility. Possibly the hardest step in applying this principal is selecting a “functional equivalent” to the subject tree or trees. When selecting the best appraisal technique, an appraiser must ask: “Is there a way the benefits provided by this tree could be replaced at a lower cost?” Depending on the facts of a case, the answer could be very different. This presentation reviews 10 court cases that applied the Principle of Substitution to tree appraisal.