Property Values Resources

homevaluesbanner.jpg
The purpose of providing you with some messages and resources to accompany your Impact Calculator outcomes is to ensure you have the tools you need to effectively communicate your results and add even more value to the numbers presented in your final reports. Whether you have input data based on a single park, a region, or your entire park system, fashioning a message around your presentation is important. Presentations include anything that accompanies the report that you generated, whether in person or in writing.
Additionally, you will want to equip yourself with information to use in case you need to justify your outputs. If you have not already, check out the tips for making presentations or reports webpage.   

Resources are linked below. Under each heading you will find more information relative to the park and recreation profession. Please do not hesitate to reach out to the Executive Office for more information. Additionally you can post ideas and questions on the FRPA Calculator eConnect Group.

  
Assets
Sample Press Release
Social Media
Calculator Icons:
Environment 
Property Values 
Distance from parks and trails is known to influence property values. Nationwide research shows that the premium for proximity to these spaces can affect market values up to 2,000 feet by 20 percent or more. Dr. John Crompton’s proximity principle estimates:
Proximity to a park improves home values
20% for homes adjacent to the park
10% for homes 1 block away (500 feet)
5% for homes 2 blocks away (2,000 feet)
In addition to the location, the type of park also impacts the home values:
10% for active parks
33% for active and passive recreation areas within the park
70% for passive recreation within the park

Designing Parks to Enhance a Community's Tax Base

Specific Inputs
Number of Houses within 500 feet of the park | Number of Houses within 2000 feet of the park
Decide whether you want to use the houses within 500 feet of the park number or the houses within 2000 feet of the park number and then use the appropriate Proximity Effect percentage. You can find this information by using Google Maps. Locate your park on Google Maps. Zoom in enough to see a few blocks of houses around the park. Right-click to use the measurement tool and expand to 500 or 2000 feet to count the houses within that area. You may also contact your planning department or property appraiser’s office to find out if they have this information.
Average Sales Price of House in the Zip Code of the park
To find this information, we suggest you contact a local board of Realtors or your growth management or planning department to get the average sales price. You can use a property sales website such as Zillow.com or Realtor.com to determine the average sales price in a particular zip code but keep in mind that these prices are not always the most realistic as they are not based on actual sale prices. Additionally, know your neighborhoods. A park may be on the edge of a zip code so keep that in mind. Be ready to justify your sources with anyone to which you may be presenting.
Millage Rate
If you do not know your millage rate for the city or county your park is in, you can look this up on your county property appraiser’s website. Use the search feature to find the exact address of a home nearby and be sure to include all millage rates that apply (city, county, school, etc.). That being said, also evaluate which millage rates you include in your calculation as some of they may not be relevant to the taxes that affect parks and recreation. Whatever you use, explain this process in your presentation, if needed.

Links to resources used in the Calculator: 
The studies essentially used John L. Crompton’s research on the Proximate Principle. The calculation involves estimating the market value of homes within 500 feet of a park and then using a very conservative multiplier to estimate the incremental value attributable to park proximity. The local tax rate was applied to the market value to estimate the incremental tax benefit as well. 
Resources/Articles: Property Values:
How you can use these resources:
Familiarize yourself with the background information related to the Calculations within the Property Value Calculator. Using this information in your reporting will allow your audience to see the validity of the data you are presenting to them.
Additionally, use the data that "speaks" to your audience the most.