Fall is in the air! With this year rapidly winding down, I know most are looking forward to a fresh start in 2021. COVID-19 has affected all of us both personally and professionally at some level. Some industries and markets have been devastated while others have experienced expansion and growth. So, how has it affected … Continue Reading →
Land preservation for future generations is as important today as it ever has been. Private landowners understand how nature attributes to their family’s quality of life. For this reason, the legacy of their land holdings is often of supreme importance. This creates some difficult decisions when more intensive land use opportunities emerge. On one hand, … Continue Reading →
In the first two articles of this series, we introduced the basic business fundamentals of supply and demand and working markets during the COVID-19 crisis. In our final article, we will explore how incentives are driving management behaviors in the COVID-19 economic environment. I’ll also provide insight into why the free market capitalistic economy can … Continue Reading →
In the first article of this series, we introduced how changing business conditions resulting from COVID-19 were impacting the basic fundamentals of supply and demand. As we continue to deal with economic uncertainty in the current business climate, our second article presents an overview of general market principles that help us understand potential changes in … Continue Reading →
Pandemic is a word that I’m not sure I could have spelled three months ago. Unfortunately, we are now all too familiar with the term and with COVID-19. I don’t think any of us saw this one coming, and they sure didn’t teach us about this in forestry school. As we deal with the general … Continue Reading →
Roughly 70% of the timberland in Georgia is owned by non-industrial private forestland owners. Most of these timberland owners go to a job every morning that has nothing to do with the growing, harvesting, or marketing of timber. Given timber is such a unique asset class and selling it occurs so infrequently, the marketing of … Continue Reading →
Historically, most entrepreneurs have acquired their initial timberland property for recreational purposes or from an inheritance. Over time, additional property is acquired, and their ownership slowly grows into a significant part of their overall investment portfolio. As time passes, the ownership develops into a sizable family forest business often met with challenges that develop during … Continue Reading →
Every timberland owner has the desire to manage their property responsibly, but there are varying degrees of knowledge about how to best accomplish that objective. Some owners seek the advice of family members, friends, service contractors, or timber buyers. Others may use government assistance or seek professional guidance.
What something is “worth” can mean various things to different people. In most cases, “worth” implies “market value”, which means the price that a preponderance of knowledgeable buyers would pay for your property.
Every landowner asks, “What is my timber worth?” The most truthful answer is, “It all depends!”
You have made the decision to sell your property but you are not sure how to start. You obviously want to get the best price you can, but how do you go about it?
Remember the good old days, when “Timber was King”? There was a broad, diverse, healthy and competitive market for timber products. For decades, timber prices were strong and rising. Clients were confident, even enthusiastic, about spending money on reforestation in anticipation of solid, competitive financial returns and revenue. Every raindrop grew a sheet of paper … Continue Reading →
Currently, forestland property taxes in Georgia average approximately three times higher than any other state in the Southeastern U.S. Amendment 3 will address this issue by: 1) provide uniformity in the valuation of timberland across the state’s 159 counties, 2) increase the conservation of forestland on properties “at-risk” of conversion to other uses, and 3) … Continue Reading →
A timber harvest is the single most important event during the rotation of a forest stand, and a successful, well-planned timber sale will maximize income to the owner while minimizing adverse impact on other uses of the land.
Recreational leases are a good way to generate some annual income from your property, but there are advantages and problems associated with hunting leases.
For some, timberland may be a large portion of their portfolio or estate value such that it becomes a critical asset that needs to be dealt with expertly.
Property tax assessments and taxes have increased significantly since 2000, and in many cases have added a disproportionate financial burden to rural landowners.
The Internet and real estate websites have made it much easier for buyers to find available properties. This technology has also made it easier for buyers (and sellers) to make mistakes during the evaluation and transaction process.
Landowners who desire to be good stewards of their property realize that a healthy forest is no accident – it does not just happen; it takes effort, involvement, and knowledge to make the best management decisions.
One of the largest expenditures for many timberland owners in Georgia is their annual property tax payment. Property taxes can have a negative impact on timberland’s investment value (net present value) and financial returns over the long term. However, many landowners do have options to reduce their property tax obligations and improve long-term returns from growing timber.
As an owner of real property in Georgia, you have always had the right to appeal a property’s assessed value. Senate Bill 346, which passed in 2010, changed some of the rules and regulations regarding appeals. In this article, we have summarized the property tax appeal procedures and highlighted the major changes from previous regulations.