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Inflation and Present Value of Timber Income after Taxes

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Abstract:

Where a guiding rate of interest fluctuates with the inflation rate but remains constant in real terms, present values of future timber income after property taxes or yield taxes tend to be independent of inflation. After capital gains taxes, however, present values decline with increases in the projected inflation rate. The decline becomes less significant with lengthening payoff periods.

Document Type: Journal Article

Affiliations: Associate Professor of Forest Economics, Virginia Polytechnic Institute and State University, Blacksburg

Publication date: February 1, 1979

More about this publication?
  • The Journal of Forestry is the most widely circulated scholarly forestry journal in the world. In print since 1902, the Journal has received several national awards for excellence. The mission of the Journal of Forestry is to advance the profession of forestry by keeping forest management professionals informed about significant developments and ideas in the many facets of forestry: economics, education and communication, entomology and pathology, fire, forest ecology, geospatial technologies, history, international forestry, measurements, policy, recreation, silviculture, social sciences, soils and hydrology, urban and community forestry, utilization and engineering, and wildlife management. The Journal is published bimonthly: January, March, May, July, September, and November.
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