{"id":1807,"date":"2013-06-11T20:52:36","date_gmt":"2013-06-11T20:52:36","guid":{"rendered":"http:\/\/erc.cals.wisc.edu\/volunteer\/?p=1807"},"modified":"2013-06-11T20:52:36","modified_gmt":"2013-06-11T20:52:36","slug":"lakeshore-value","status":"publish","type":"post","link":"https:\/\/blog.uvm.edu\/kstepenu\/2013\/06\/11\/lakeshore-value\/","title":{"rendered":"Lakeshore Value"},"content":{"rendered":"<h3>Comment<\/h3>\n<p>Date: Mon, 24 Sep 2007 14:21:08 -0500<br \/>\nFrom: &#8220;Korth, Robert&#8221;<br \/>\nSubject: Lake value perimeter<\/p>\n<p>Hello there<\/p>\n<p>For some time there has been an interest in finding ways to show that clean, healthy lakes are important to our nation\u2019s economy. Some states such as Minnesota, New Hampshire, Maine and Wisconsin have had some economic studies, hedonic modeling and other work done that look at the variation in waterfront property values with different parameters, such as water clarity, how does value change when there is removal of shoreland vegetation and so on.<\/p>\n<p>We looked at a simple premise: if we could discover the length of the frontage around lakes and we had some idea of the going price of a front foot in a given county, we should be able to get a rough idea of the value of bare lakeshore frontage (not considering improvements) in a given county. By calculating the number of feet around the lakes in a county, we felt the information could be used to give a county a rough idea of the value of their lake frontage.<\/p>\n<p>Here is our Shoreline Length Analysis giving the number of feet around Wisconsin lakes by county and for the total state. (See the attachments which describe the methods used and give a break down by county: <a href=\"http:\/\/www.usawaterquality.org\/volunteer\/Special\/EPAListserv\/Shoreline%20Length%20Analysis%20by%20County.doc\">Shoreline Length Analysis by County.doc<\/a> and <a href=\"http:\/\/www.usawaterquality.org\/volunteer\/Special\/EPAListserv\/shoreline_length.xls\">shoreline_length.xls<\/a> )<\/p>\n<p>The approximate length around WI lakes, ponds, flowages, reservoirs (including the Great Lakes, but not including rivers or streams) is:<br \/>\n\u00b7 29,305 miles \u2013 greater than the circumference of the earth around the equator.<br \/>\n\u00b7 154.7 million feet of frontage. If you picked a number such as $1,000 for the average value of a front foot of shoreline, that would equate to a total value for the frontage of all the lakes in WI of: $154.7 billion dollars. To come up with more accurate values for your county, use what you believe is the average value per front foot in your area.<\/p>\n<p>For comparison purposes, we pulled together some numbers on agriculture and forestry land:<br \/>\n\u00b7 According to USDA Economic Research Services, total farmland in WI in 2002 was estimated at 15.7 million acres. Using a value of $3000\/acre, this would equate to approximately $46 billion dollars. <a href=\"http:\/\/www.ers.usda.gov\/StateFacts\/WI.HTM\">http:\/\/www.ers.usda.gov\/StateFacts\/WI.HTM <\/a><a href=\"http:\/\/cdp.wisc.edu\/pdf\/Wisconsin%20Agricultural%20Land%20Prices1.pdf\">http:\/\/cdp.wisc.edu\/pdf\/Wisconsin%20Agricultural%20Land%20Prices1.pdf<\/a><\/p>\n<p>\u00b7 According to the US Forest Service, total forestland in WI in 2006 was estimated at 15.9 million acres. Using a value of $3000\/acre, this would equate to approximately $48 billion dollars. <a href=\"http:\/\/www.na.fs.fed.us\/ra\/factsheets\/wi_brief.pdf\">http:\/\/www.na.fs.fed.us\/ra\/factsheets\/wi_brief.pdf<\/a><\/p>\n<p>(This information was compiled by Robert Korth and Tiffany Lyden, UW Extension Lakes at UW-Stevens Point, College of Natural Resources, working with Doug Miskowiak, at the Center for Land Use Education.)<\/p>\n<p>Please feel free to share this.<\/p>\n<p>R Korth, T Lyden<\/p>\n<p>Robert Korth<\/p>\n<p>800 Reserve St<br \/>\nUWEX Lakes<br \/>\nUW Stevens Point<br \/>\nCollege of Natural Resources<br \/>\nStevens Point WI 54481<br \/>\n715-346-2192<\/p>\n<p>Tiffany Lyden<br \/>\nUW-Extension Lakes<br \/>\n800 Reserve St.<br \/>\nCollege of Natural Resources<br \/>\nUW-Stevens Point<br \/>\nStevens Point, WI 54481<br \/>\n715-295-8903<br \/>\n<a href=\"http:\/\/www.uwsp.edu\/cnr\/uwexlakes\">www.uwsp.edu\/cnr\/uwexlakes<\/a><\/p>\n<p>Douglas Miskowiak<br \/>\nLand Use\/ GIS Specialist<br \/>\nCenter for Land Use Education (CLUE)<br \/>\nGlobal Environmental Managment (GEM)<br \/>\nCollege of Natural Resources<br \/>\nUniversity of Wisconsin &#8211; Stevens Point<br \/>\n800 Reserve Street<br \/>\nStevens Point, WI 54481<br \/>\nph. 715.346.4989<\/p>\n<h3>Responses<\/h3>\n<p>Date: Tue, 25 Sep 2007 12:34:07 -0400<br \/>\nFrom: &#8220;O&#8217;Neill, Mike&#8221;<br \/>\nSubject: RE: [CSREESVolMon] Value of lakeshore perimeter<\/p>\n<p>Just a thought about these calculations\u2026<\/p>\n<p>An acre of land is 43,560 square feet (a square of approximately 209 feet on a side). Using those dimensions and the estimate provided in the email, an acre of unfinished lakefront property would be valued at $43,560,000 \u2013 probably well beyond the fair market value for such property. I\u2019m guessing that a \u201cbuilding lot\u201d of lake front property goes for somewhere in the neighborhood of $200,000. You can estimate the value of the lake front by first getting the square foot cost and then multiplying by linear feet (or miles) \u2013 you probably get an estimate of $4 &#8211; $5 per linear foot of waterfront \u2013 substantially lower than the $1000 estimate. This would put the value of lake front between $619 and $774 Million.<\/p>\n<p>Cheers, Mike<\/p>\n<p>Michael P. O&#8217;Neill<br \/>\nNational Program Leader, Water Resources<br \/>\nUSDA-CSREES<br \/>\n202-205-5952 Voice<br \/>\n202-401-1706 Fax<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Comment Date: Mon, 24 Sep 2007 14:21:08 -0500 From: &#8220;Korth, Robert&#8221; Subject: Lake value perimeter Hello there For some time there has been an interest in finding ways to show that clean, healthy lakes are important to our nation\u2019s economy. Some states such as Minnesota, New Hampshire, Maine and Wisconsin have had some economic studies, [&hellip;]<\/p>\n","protected":false},"author":3142,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[288977],"tags":[290510,299717,308244],"class_list":["post-1807","post","type-post","status-publish","format-standard","hentry","category-listserv","tag-290510","tag-listserv-2","tag-value"],"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"kstepenu","author_link":"https:\/\/blog.uvm.edu\/kstepenu\/author\/kstepenu\/"},"_links":{"self":[{"href":"https:\/\/blog.uvm.edu\/kstepenu\/wp-json\/wp\/v2\/posts\/1807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.uvm.edu\/kstepenu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.uvm.edu\/kstepenu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.uvm.edu\/kstepenu\/wp-json\/wp\/v2\/users\/3142"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.uvm.edu\/kstepenu\/wp-json\/wp\/v2\/comments?post=1807"}],"version-history":[{"count":0,"href":"https:\/\/blog.uvm.edu\/kstepenu\/wp-json\/wp\/v2\/posts\/1807\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.uvm.edu\/kstepenu\/wp-json\/wp\/v2\/media?parent=1807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.uvm.edu\/kstepenu\/wp-json\/wp\/v2\/categories?post=1807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.uvm.edu\/kstepenu\/wp-json\/wp\/v2\/tags?post=1807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}