To estimate the stumpage value of individual species and qualities of timber in lump-sum timber sales for excise tax purposes, an eight-step approach for constructing the relevant data set is suggested. An example uses western Washington sales date, but the basic procedure applies to any valuation of individual species in a set of lump-sum timber transactions. In addition to producing credible stumpage value estimates, the modeling process allows examination of selected sale characteristics that influence the values. The proposed approach should be considered by appraisers and forest economists who seek an accurate, simple valuation strategy.
Document Type: Journal Article
Valuation Forester, Special Programs Division, Forest Tax Section, Washington State Department of Revenue, Olympia
Publication date: July 1, 1999
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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.