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Urban trees serve important environmental, social and economic functions, but similar to other natural endowments they are not customarily depicted in monetary terms. The needs to augment protection, funding and community support for urban greening call for proper valuation. Heritage trees (HTs), the cream of urban-tree stock, deserve special attention. Existing assessment methods do not give justice to outstanding trees in compact cities deficient in high-caliber greenery, and to their social-cultural-historical importance. They artificially separate evaluation from valuation, which should be a natural progression from the former. Review of tree valuation methods suggested the formula approach to be more suitable than contingent valuation and hedonic pricing, and provided hints on their strengths and weaknesses. This study develops an alternative formulaic expert method (FEM) that integrates evaluation and valuation, maximizes objectivity, broadly encompasses the key tree, tree-environment and tree-human traits, and accords realistic monetary value to HTs. Six primary criteria (dimension, species, tree, condition, location, and outstanding consideration) branched into 45 secondary criteria, each allocated numerical marks. Each primary criterion was standardized to carry equal weight, and a tree's maximum aggregate score is capped at 100. A Monetary Assignment Factor (MAF) to consign dollar value to each score unit was derived from three-year average per m(2) sale price of medium-sized residential flats. The applicability of FEM was tested on selected HTs in compact Hong Kong. The aggregate score of a tree multiplied by MAF yielded monetary value, which was on average 66 times higher than the result from the commonly-adopted Council of Tree and Landscape Appraisers method. The computed tree values could be publicized together with multiple tree benefits to raise understanding and awareness and rally support to protect HTs. The property-linked FEM could be flexibly applied to other cities, especially to assess HTs in compact developing cities.

Outstanding historical trees embedded in cities constitute pertinent environmental assets, yet they are widely threatened in third-world cities. Inadequate understanding of this valuable natural-cum-cultural heritage hinders proper conservation. A case study of Guangzhou in south China evaluated floristic composition, age profile and biomass structure of historical trees, assessed their performance in major habitats (institutional, park and roadside), and established a prognosis for future growth and management. The 348 historical trees examined belonged to only 25 species, vis-à-vis 254 trees in the entire urban forest, dominated by five species and native members. Roadside had more trees, followed by institutional and park, with merely the most common four species shared by all habitats. The limited commonality reflected tree-performance differentiation by habitats exerting selection pressure on species. The institutional growth-regime was more conducive to nurturing high-caliber specimens, whereas park is less capable. Individual species achievement by habitats, derived from tree-count ranking and relative-abundance indices, could inform species choice and tree conservation. Few trees exceeded 300 years of age in the millennium-old city, echoing a history of intense tree-city conflicts. Potential life-span, trunk and crown diameters indicated ample opportunities for further expansion of biomass and landscape impacts, which would be straitjacketed by the tightening urban fabric.