A series of Choice Modelling studies have been undertaken to assess the trade-offs between water resource development and environmental and social impacts in the Fitzroy basin, central Queensland. The case study reported in this paper assessed community preferences for the protection of the river estuary, as well as tests about the influence of the payment vehicle. The models indicate that there are significant community values for protecting the Fitzroy estuary. Significant differences were found between values for an environmental loss compared with values for environmental gains. Two split-samples of the survey were generated using different levels for the payment vehicle. The results indicate that starting point bias was not present in the split sample models. A third split-sample was used to compare the influence on choices of a one-off payment (to cover the cost of environmental and social gains over a 20 year period) with an annual payment for 20 years. Significant differences were identified between responses for the two different payment vehicle structures.