Parks and open spaces outside cities also produce economic benefits. The parks attract non-resident visitors who invest new dollars in local economies. The proximity to parks and open spaces increases the value of residential properties and generates higher tax revenues for communities. Parks and open spaces can attract new residents and businesses to an area, increasing sales and tax revenues.
They can also provide environmental and health benefits that reduce government costs. Parks and open spaces are often evaluated based on levels of preserved land or recreational facilities. The least obvious benefits can be found in municipal revenues and in the balance sheets of nearby companies. Well-planned parks and open land are related to increased property values, more efficient use of public resources, and healthier local economies when implemented.
In short, public parks are often financial assets.
