Estate Timber Appraisal & Timber Cruises
Perform a timber cruise to get a professional estimate of your property’s standing timber value.
Importance of a Timber Appraisal
When a forested property is passed down to heirs from an estate a timber appraisal is generally needed to establish a new cost basis for tax purposes. A timber appraisal outlines standing timber volume and value and is created by a forester doing a timber cruise. This entails walking the property in a grid pattern and taking sample plots.
Once the timber volumes by species are calculated then logging and hauling costs are estimated by terrain type. For example, steep terrain may require cable logging which is more expensive than traditional ground-based equipment. These logging and hauling costs are then deducted against delivered log prices at the mill for each species and product to arrive at net landowner proceeds or “stumpage”. JDFM markets logs for the highest value including specialty products such as beam logs, telephone poles, plywood logs and logs for cedar fence boards or cedar siding.
The Process
Once the timber basis is established it can then generally be used for accounting depletion purposes on future timber harvests as an offset against taxable income. Setting this up correctly from a tax perspective can be incredibly important, especially on estates with large timber volumes.
While we are not accountants or appraisers, we can provide references of accountants and appraisers we have worked with in the past if you need help finding a tax professional that understands the intricacies of timber tax law. We are very familiar with this process and have done many timber appraisals for families over the years.
In any case, figuring out how much timber volume and value you have on a property by scheduling a timber cruise is the first step.
Frequently Asked Questions
Do I need a stepped-up timber basis for an estate or inheritance?
If the property that is being passed down has timber on it then it is a good idea to check into getting a stepped-up timber basis. The potential income tax savings from a stepped-up timber basis can be very large on future timber harvests. Give us a call and we can discuss the specifics of your situation and if scheduling a timber cruise and updating a timber appraisal might be right for you.
How much is my timber worth?
Good question! Give us a call today and one of our foresters can come out for a free site visit to estimate the total standing timber volume and value on your property. If you have a large property we may recommend a full timber cruise for a more accurate estimate.
Why Choose JD Forest Management?
Hire a professional forester to manage your logging operation
Our professional foresters have 4-year degrees providing a technical background in forest diseases, silviculture (the science of growing trees), logging operations, reforestation, and much more. A timber harvest may happen on a property only once every 15-20 years so make sure you use a trusted professional to get it done right!
Over 40 Years of experience
We have been managing private forestlands in northern Idaho, eastern Washington, and northwestern Montana for over 40 years. Including Boundary County, Bonner County, Kootenai County, Benewah County, Shoshone County, Latah County, Clearwater County, Idaho County, Stevens County, Pend Oreille County, Spokane County, Lincoln County, and Sanders County.
Insurance and Contracts
We use strong legal contracts drafted by attorneys for all forestry contract work. This protects the landowner from liability and makes the work specifications clear to all parties. We are insured and make sure all contractors provide proof of insurance as well.
We manage 20,000+ acres of timberland at present
No project is too big and we definitely have the capability to help you manage your forest no matter if it’s 10 acres or 1,000 acres!
Experience You Can Trust
We have the forestry training, experience, and capabilities to handle any forest management project. We are passionate about helping private landowners achieve their goals and we love keeping our local forests healthy and growing!
What Now?
Schedule a site visit with a forester to discuss your goals and objectives for your property. After the site visit, we will outline the steps required to reach your goals and provide pricing for each service. Feel free to learn more about our process or schedule a site visit today.
Call Today
(208)-817-9786
Email Us
info@jdforest.com
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