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Multiple Regression-Based Transactions Evidence Timber Appraisal for Minnesota's State Forests

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Abstract:

A transactions evidence appraisal system for timber tracts administered by the Minnesota Department of Natural Resources was developed and tested. A multiple linear regression model was developed from data on timber tracts sold by the Minnesota Department of Natural Resources at auction in fiscal year 1991. This model was tested on fiscal year 1992 auction sales for which prices were known. Factors related to tract sale price included: (1) volume of different products on the site, (2) tract location, (3) distance from the tract to the nearest mill, (4) stocking level, and (5) seasonal harvesting restrictions. The regression model predicted sale prices nearly as well as the Minnesota Department of Natural Resources appraisal system and required substantially less information. North. J. Appl. For. 13(3):129-134.

Document Type: Journal Article

Affiliations: Department of Forest Resources, University of Minnesota, St. Paul, MN 55108

Publication date: September 1, 1996

More about this publication?
  • Each regional journal of applied forestry focuses on research, practice, and techniques targeted to foresters and allied professionals in specific regions of the United States and Canada. The Northern Journal of Applied Forestry covers northeastern, midwestern, and boreal forests in the United States and Canada.
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