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The Forestry Incentives Program and Forest Yield Taxation in Massachusetts: Do We Need the Subsidy?

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In Massachusetts, nonindustrial private forest landowners are offered two incentive programs: the Forestry Incentives Program (FIP) and a modified assessment-yield tax law. Both are designed to increase the flow of timber products by decreasing the costs of engaging in forest management. Of sites studied, 76.5 percent do not need FIP or the tax incentive to earn an alternative rate of return from forest management. Still, benefit-cost analyses indicate that FIP is a profitable investment of public dollars at discount rates of 4 and 6.625 percent. FIP is unprofitable at 10 percent. The property tax incentive was shown to be an inefficient investment of public dollars at discount rates of 5, 10, or 15 percent. Ratios obtained by combining the programs and using discount rates of 5, 10, and 15 percent indicated costs greater than benefits. The authors conclude that programs with similar objectives should be analyzed together.
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Document Type: Journal Article

Affiliations: Associate Professor, Department of Agricultural and Resource Economics, University of Massachusetts, Amherst

Publication date: 1985-12-01

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    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.

    2016 Impact Factor: 1.675 (Rank 20/64 in forestry)

    Average time from submission to first decision: 39.6 days*
    June 1, 2016 to Feb. 28, 2017

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    Forest Science
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