Youll also need to decide what you want to protect. Of course, many landowners sell timber for the purpose of generating income, but sometimes timber is harvested to salvage the value of trees that have been damaged by ice, wind, snow storms, wildfires, insects and disease. DON'T SELL UNLESS EVERYTHING IS IN WRITING. timber and log price information on the web, National Association of State Foresters website, Cooperative State Research, Education, and Extension Service, Michigan State University's Forestry Extension. 1. A good timber contract can go a long ways to ensure that . As a result: (1) landowners often lose income because they sell timber without adequate information, and (2) millions of acres of forestland lack ongoing management. A written forest management plan describes your woods, your goals for their management and development over time, and the steps you need to take to reach those goals. In the shares method, the logger cuts the trees and takes them to area mills and pays you a percent of what they receive. The contract protects you. Figure out what restrictions you need to protect the health of your woods before you proceed. Size vs Maturity - Sometimes the size of a tree is a good indicator of its maturity, but not always. All timber markings performed by division foresters are based on sound forest management principals. The purpose of marking is to improve the quality of the stand of timber for the future. I believe he was out of Ohio. You may choose to have a forester with the Division of Forestry assist you or you may hire a consulting forester. Click here for the 2022 Tax Tips for Forest Landowners. DON'T SELL TO A TIMBER BUYER THAT IS NOT BONDED. THREE REGIONS, ONE PURPOSE. pertaining to the timber sale and the protection of property in the contract. Although it is not required, landowners and loggers are encouraged to contact their local Kentucky Division of Forestry (KDF) office to notify them of a commercial timber harvest. Department of Natural Resources and Environmental Sciences. There can be a substantial difference in taxes owed if you have to treat the dollars received as ordinary income versus capital gains. How much is a mature oak tree worth? Higher costs translate into lower prices offered. 2022 Commonwealth of Kentucky. The data also show there are differences with respect to the species that are being harvested. Kentucky has rich resources of soils, a variety of tree species and ideal growing conditions for a valuable timber crop. HOME; About Us; Whether you are wanting to sell your timber or design a professional forest management plan, Ohio Foresters LLC will work with you every step of the way. Second, you can contact a professional forestry consultant. We begin by meeting to view your timberland. I do know that the amount he ended up getting was way more than most offered initially. Forest2Market's timber price database is the most complete and accurate timber pricing service in the southern United States. Selling cut products If my spouse and I retire to the land are the resources adequate that we can enjoy a satisfactory lifestyle? black cherry) are worth more than others (i.e. An Official Website of the Commonwealth of Kentucky. Are your forestry investments structured so that they will retain their value at your death? Logs (lumber and veneer) 40-60 yrs. You may choose either to harvest your own timber and sell the cut product such as veneer and saw logs, pulpwood, posts and poles or to sell the standing trees and allow the buyer to cut and haul them. It may not display this or other websites correctly. Division personnel will inspect the harvest to ensure the requirements under KRS 149.342 and KRS 149.344 are being met. How to Host a Continuing Education Program. You are using an out of date browser. With several production facilities in the Eastern United States, Baillie is where the hardwoods are. Additionally, we . The percent you receive is dependent on what you are selling, but commonly you will receive 50-60% of the timber value. Wherever you advertise, include your contact information, the location of your land, the timber species, quality and volume youre selling, the road quality to access the trees, and any other helpful or important points. Fourth, what a timber buyer will pay for your trees depends on the conditions of the site in which they are growing, which affects how expensive it is to remove them and haul them to a mill. Timber is a valuable commodity, and since most landowners only have timber harvested once or twice in a lifetime (at least on a large scale), some careful thought and a few simple actions before you sell your timber can ensure the process is done right. This comes down to species, size, and quality. 3. Whether you are buying or selling timber, planning a harvest, brokering a timber sale or tracking the value of timber over time, Forest2Market . A quick review of the latest Kentucky forest inventory data collected by the U.S. Forest Service andthe Kentucky Division of Forestry shows that after factoring in mortality and all forms of removal Kentucky is growing more than twice the sawlog volume that is removed. See below. Learn more . Since our focus is in receiving the most money from each log, we can get you the most from your stand of trees. lands as if we were taking care of our own. No high grading. This type of cutting, known as high-grading, removes not only the current value of the stand, but much of its future value too. and "What's the best way to sell my trees?" We are insured and Licensed Master Loggers in the State of Kentucky. To estimate the value of your timber, take the volume, divided by 1,000, and multiply it by the price quoted in your states standing timber stumpage report. If you really cut the timber, the price quote per board foot of all logs cut and hauled to market. Have you and a neighbor traded some woodlands for better management opportunities? Youll need to set some boundaries before you set out to sell. If you experienced significant timber loss due to storms, drought or other environmental conditions, please consult a tax expert. Our free timber price information page also now includes links to sample timber contracts for the most viewed states. You have already flagged this document.Thank you, for helping us keep this platform clean.The editors will have a look at it as soon as possible. Pulpwood* and posts 15-25 yrs. Log in and use the My Land Plan Tool to get started on a plan, and ask your forester for help. Pulpwood* 20-30 yrs. Once the volumes have been determined, Learn more . What Is My Timber Worth, and How Do I Sell It? Overall, the simple answer is no. Overly mature, older trees will die of old age, diminishing the value of the forest. 2. Are you planting trees in abandoned fields or conducting site preparation for your woodlands next timber rotation? You hired and directed a logger to cut your timber and sell the logs to a mill you specified for $20,000. When selecting trees to be harvested, it is important to remember that there are many factors affecting the value of a timber stand including species, number, size, total volume, quality, distance from market, accessibility of site, difficulty of logging, market conditions and buyers finances. Logs 40-60 yrs. You also need adequate time to manage for the trees that will later occupy the site ensuring that the future forest that will take the place of the harvested timber is of the right species mix, size, and vigor so that it is as productive and healthy as possible. NIFA's key partner is the nation's Land-Grant University (LGU) System, which includes . Private and public foresters provide different services. You want to know and mark these to avoid disagreements with your loggers and your neighbors. Professional foresters can help you plan your timber harvest and sale. Whatever the reason for harvesting, a professional forester can help you plan a harvest that will suit your objectives and maximize your income. Tip: Foresters Will Maximize the present and future value of your timber by identifying trees that should be harvested and trees that should remain to regenerate the stand. Provide guidance regarding carbon sequestration. best). Once your timber is marked, you need to prepare a bid for advertised timber contract. Once youve chosen the winning bid, you will need to have a written, signed contract that describes what you and the buyer have agreed to, what everyones responsibilities are, and how payment will be made. In that case you will be fine. Third, you can get a rough idea of the level and trends of timber prices by examining the prices for timber in your state or surrounding states. Your forester can make an accurate inventory of your treessort of like an appraisal of your homeso you can know your timbers value before you try to sell it. Of the 821 million board feet harvested in 2015, more than 50 percent of the volume came fromoaks with white oak accounting for 16 percent of the total volume har-vested in Kentucky. Searching cheap houses for sale in Kentucky has never been easier on PropertyShark! These two sale approaches probably account for well over half of the timber sold in Kentucky. The physical boundaries include the edges and corners of your woods. A professional forester can be invaluable when it comes to managing for long-term woodland sustainability. Chris Demers and Alan Long. We are buying trees for our sawmill. I do not sell timber on the shares method. We help landowners responsibly maximize the monetary values when they sell timber, yet still keep in mind the intrinsic values unique to each landowner. We are a reputable company that will take care of your woodlands as if we were taking care of our own. Lexington, KY 40546-0091 Foresters are able to look at the overall species composition and determine what type of harvest is needed and the forests potential for regeneration. Understanding a few timber-harvesting basics can help in making good decisions about your woodlands and harvesting. Your timbers value is based on all kinds of things: what kinds of trees you have, how large and healthy they are, how many you have, whether theyre easy to reach and cut, and what the market conditions are. Prices based on woods run of timber. Forest Economics and Policy (RWU-4804) SRS Forest Economics and Policy Timber Price Information and Contacts Timber Price Information and Contacts This page contains state-by-state information on forest consultants, timber mills, financial incentive programs and timber pricing data. If you've decided to harvest and sell some of your timber, here's what you need to do: Step 1: Get helP Finding the right consulting forester to help you through the selling process can make your timber sale easier and more profitable. We are also well positioned to serve . . Dean Third, the value of timber depends heavily on how much timber is sold in one timber sale and what kind of harvesting is done. These tips are all about how to sell timber. Proper forest management is accomplished by identifying and selecting the best trees for removal. Most of ours is maple beech due to the same type of cutting several times. All rights reserved.Kentucky.gov, Kentucky Forest Products Industry Directory, Liability Protection and Technical Assistance, Environmental Compliance Assistance Program. Logs 40-79 yrs. Where can I get assistance in selling my timber?Involving a professional forester in planning and implementing your timber sale is recommended. White oak is currently an abundant tree with many wildlife attributes but strong market demand and the increasing difficulty in regenerating it, especially on better quality sites creates some concern for it in the long-term. Sellers should also beware of timber buyers who offer to buy all of the trees above a certain diameter. May 8, 2017 Timber sales timber harvest Bill Klase. To view and print a sample contract, click Sample Bid for an Advertised Timber Contract. Then you will want to know about the IRS Timber Tax Form T available for download from the Internal Revenue Service at http://www.irs.gov/pub/irs-pdf/ft.pdf. Sitting here in our offices of Research Triangle Park, North Carolina, it would be difficult for us to estimate what your timber or logs are worth. Post anything thread - piss n on lefties version. Selling timber is not simple, and there are many potential ways in which a landowner working without professional forestry expertise can be taken advantage of. Once the volumes have been determined, If you need to determine the value of your timber, this service should be considered. Most timber in Kentucky is sold on the shares method. Decided to go with Maple which was still $3.30/BF. My father-in-law bought timber for years. Pulpwood* 30-50 yrs. 859-257-4772, Students / Extension Specialist, Forestry. Iowa has a bonded timber buyer's law that requires anyone that buys timber to be bonded. Several scientific studies have shown that timber sellers who hire a professional forestry consultant to organize the sale end up with profits equal to or greater than profits accruing to timber owners who do not hire a professional forestry consultant, even after subtracting out the consulting fee. There are two methods I use to market timber: This is the most valuable service to landowners. Remember this key requirement: in order for a timber buyer to be interested in purchasing a yard tree(s), the tree or trees must have value with sufficient volume to exceed the purchase cost. For answers to all these questions, download a copy of the Estate Planning for Forest Landowners: What Will Become of My Timberland? Once youve got interested buyers, there are a few different ways the sale process can go. Will timber, land or both have to be sold to pay family administrative expenses and estate taxes? Read this first. Christmas trees 7-10 yrs. First, even though statewide or regional prices can provide a taste of the level and trends of prices, what your timber is worth is somewhat dependent on local market conditions. sweetgum). That's a rare, veneer white oak growing in excellent soil. Your basis for the timber is $80,000. I do not charge for our initial meeting. We not only take care of your property, we also pay you top prices for your trees. Select cutting of larger trees enables the rapid growth of younger trees, thus enhancing the long term value of the woods. Kentucky Hunting is the leading online community for outdoors enthusiasts to discuss hunting, fishing, archery, and life in Kentucky. From finding a buyer to filling out the right paperwork, there are lots of little steps to keep track of throughout the selling process. Professional forestry consultant of soils, a variety of tree species and ideal growing conditions for a valuable timber.... 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