|
|
- Info
Experience with the timber yield tax in California
| Author: |
Teeguarden, D.E. and P.E. Crebbin |
| Date: |
1988 |
| Periodical: |
In: Forest Taxation: Adapting in an Era of Change; 1988 May 20-22; Atlanta, GA. Madison, WI: Forest Products Research Society. |
| Abstract: |
In 1976, California replaced a modified property tax on timber with a yield tax. All timber in timberland preserve zones (TPZ) is exempt from the general property tax. Trees on non-TPZ land may be taxed only on the basis of aesthetic or amenity value. Timberland identified as a TPZ is subject to a general property tax based on uses restricted to timber production and other compatible activities. The current yield tax of 2.9 percent is levied on trees cut for forest products on privately or publicly owned land. Experience with the new system has required only minor technical changes in the law. In general, landowners, local governments, and taxing authorities are satisfied with its performance. |
|
