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Due to urban expansion, economic development, and rapid population growth, land use/land cover (LULC) is changing in major cities around the globe. Quantitative analysis of LULC change is important for studying the corresponding impact on the ecosystem service value (ESV) that helps in decision-making and ecosystem conservation. Based on LULC data retrieved from remote-sensing interpretation, we computed the changes of ESV associated with the LULC dynamics using the benefits transfer method and geographic information system (GIS) technologies during the period of 1992–2018 following self-modified coefficients which were corrected by net primary productivity (NPP). This improved approach aimed to establish a regional value coefficients table for facilitating the reliable evaluation of ESV. The main objective of this research was to clarify the trend and spatial patterns of LULC changes and their influence on ecosystem service values and functions. Our results show a continuous reduction in total ESV from United States (US) $1476.25 million in 1992, to US $1410.17, $1335.10, and $1190.56 million in 2001, 2009, and 2018, respectively; such changes are attributed to a notable loss of farmland and forest land from 1992–2018. The elasticity of ESV in response to changes in LULC shows that 1% of land transition may have caused average changes of 0.28%, 0.34%, and 0.50% during the periods of 1992–2001, 2001–2009, and 2009–2018, respectively. This study provides important information useful for land resource management and for developing strategies to address the reduction of ESV.