Segregating Land Values from Sales of Forested Properties under Even-Aged Management
Because forest land is seldom purchased without standing timber, taxing authorities often have difficulty determining market values of bare forest land for property tax purposes. This paper describes a computerized model which simulates future harvest income from a forest property and determines the capitalization rate which discounts this income to exactly equal the purchase price. With such capitalization rates, the model computes regional land values and timber age class values for selected site qualities, such that the sum of site-type values on each sale will always equal the sale price. An application and sensitivity analysis is presented. Forest Sci. 27:305-315.
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Keywords: Forest land valuation
Document Type: Journal Article
Affiliations: Associate Professor of Forest Economics, Virginia Polytechnic Institute and State University, Blacksburg, Virginia 20461
Publication date: 1981-06-01
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- Forest Science is a peer-reviewed journal publishing fundamental and applied research that explores all aspects of natural and social sciences as they apply to the function and management of the forested ecosystems of the world. Topics include silviculture, forest management, biometrics, economics, entomology & pathology, fire & fuels management, forest ecology, genetics & tree improvement, geospatial technologies, harvesting & utilization, landscape ecology, operations research, forest policy, physiology, recreation, social sciences, soils & hydrology, and wildlife management.
Forest Science is published bimonthly in February, April, June, August, October, and December.
2016 Impact Factor: 1.782 (Rank 17/64 in forestry)
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