Information is an experience good, meaning that its value emerges upon use and varies based on individual perceptions. Augmented reality (AR) is a technology designed to deliver immersive informational experiences. This study investigates the impact of AR on the perceived value of information by people experiencing information as consumers or producers. Using Google Maps, we developed an AR mobile map called Tour-It-Yourself (TIY) for city navigation. The TIY app facilitates content consumption and production around local points of interest engagingly and interactively. We discuss the development of the research tool and results from two user studies (N = 37 teenagers and N = 51 students, respectively). Further, we highlight the economic valuation aspect by examining the effects of AR on Willingness-to-Pay and Willingness-to-Accept payment for information. The results indicate a significant main effect of participant experience (consumer/producer) and AR technology on the perceived evaluation of information. Moreover, the addition of AR technology to information improves knowledge regarding points of interest for producers. These findings contribute to our understanding of how AR shapes information value perception and have implications for designing interactive location-based information systems, benefiting tourism, education, and business, as well as fostering a sense of belonging in cities.