Your parents always told you growing up that money doesn't grow on trees. But, as it turns out, trees and parks may be increasing your property values.
A new study has found that LA's parklands are worth far more than just a shady spot to take your kids or have lunch. Jessica Sargent with the Trust for Public Lands told KFI's Kris Ankarlo that today's economy means people are more mobile than ever.
"In today's economy, people choose where they want to live. They are mobile in a way that they've never mobile before. And parks are a way to bring jobs and employers to a community."
According to the study, each year, parkland saves the city $151 million in health costs, and even creates an additional $27 million in additional tax revenue thanks to increased property values for homes located near parks. That doesn't even count all the money tourists bring into the city when they come visit LA's beaches, parks and trails.
"People see that parks are somehow competing for scarce resources, but really, they're a part of the fabric of the community," Sergent said.
Neglected parkland can be detrimental to property values. Councilman Mitch O'Farrell says having data to back that up is good news.
"Now we have a study that articulates that, and that's good news."
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