sb 0147

CHAPTER 127

SB 147 - FINAL VERSION

AN ACT relative to the calculation of stumpage value in determining the timber tax assessment.

SPONSORS: Sen. Gordon, Dist 2; Sen. Burns, Dist 1; Rep. Gabler, Graf 8

This bill changes the definition of stumpage value in the determination of the timber tax assessment.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

AN ACT relative to the calculation of stumpage value in determining the timber tax assessment.

Be it Enacted by the Senate and House of Representatives in General Court convened:

127:1 Definition; Stumpage Value; Timber Tax. RSA 79:1, III is repealed and reenacted to read as follows:

III. "Stumpage value" means the amount determined by the assessing officials in the same manner as other property values for the purposes of taxation at the time the timber is cut. The assessing official shall take into consideration the location of the timber, the quality of the timber, the size of the sale, and any other factors necessary to harvest the wood or timber that affect the value of timber being cut. Stumpage value of all forest products except those customarily measured by the cord, by weight, or by the piece shall be determined on the basis of international 1/4 inch rule log scale. If there are questions by the assessors regarding the true and accurate stumpage values reflected in contracts presented by the owner as the basis for timber tax assessment, the department of revenue administration, property appraisal division, shall be available to assist or advise the municipalities in the proper calculation of the stumpage value for assessment purposes. The burden shall be upon the owner filing the "Report of Wood Cut" form to demonstrate the reasonableness of a claim under this paragraph.

(a) For standing timber sold to a purchaser, the assessing official shall consider the stumpage price paid on a per cord, per 1,000 board foot, by weight or other basis when calculating stumpage value. If the assessing official finds that a claim is not commercially reasonable then the assessing official may, after conducting an inspection of the property, use the average stumpage value list provided by the department of revenue.

(b) For sales of timber where the product is not sold as standing timber, the assessing official shall use the average stumpage value list provided by the department of revenue administration.