Land in open space communities with trails demand a higher value. Some links to back up this.
There are several other studies that back the finding that Open Space and Trails add to nearby property values. These are just a few! So, removal of trails, will decrease the property value of the homes nearby.
- “Based on our empirical results, we estimate that the externalities generated by adjacency to open space increase residential home property value by approximately $40,000 (or 20% for a mean-valued home of $188,000).” https://pdfs.semanticscholar.org/375a/5261d4b2b6d098a33ddd50ebd3bc687d9862.pdf
- “A desirable public park or other recreational open space boosts the property value of nearby homes by 8%-20%. One study looked at 16,400 home sales within 1,500 feet of 193 public parks in Portland, Ore., and found these boosts to home values: Natural areas: $10,648.” https://www.houselogic.com/remodel/windows-doors-and-floors/9-surprising-things-add-value-your-house/
- “Trails, like good schools or low crime, create an amenity that commands a higher price for nearby homes. … When trails increase property value, local governments receive more property tax revenue.” http://headwaterseconomics.org/wp-content/uploads/trails-library-property-value-overview.pdf
- “Along a popular trail in Austin, Texas, the price premium ranged from 6 to 20 percent, depending on whether the neighborhood had views of the greenbelt surrounding the trail and whether it had direct neighborhood access to the trail. https://www.nrpa.org/globalassets/journals/jlr/2005/volume-37/jlr-volume-37-number-3-pp-321-341.pdf