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Appraising Damaged Timber

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  • Straka, Thomas

Abstract

Estimation of the value of damaged timber stands can be complicated. The foundation for any valuation calculations involving damaged timber is land expectation value (LEV). A timber damage model using LEV is described in detail. The concept is economically sound as it ignores sunk costs and considers land opportunity cost and the impact on future rotations. The method described is an income approach. The results can also be applied to a replacement cost model. The two approaches will produce consistent results. FORVAL is a free computer software model that uses the same methodology and will produce the same results.

Suggested Citation

  • Straka, Thomas, 2009. "Appraising Damaged Timber," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2009, pages 1-10.
    • Handle: RePEc:ags:jasfmr:189845
    DOI: 10.22004/ag.econ.189845
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    File URL: https://ageconsearch.umn.edu/record/189845/files/298_Straka.pdf
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    References listed on IDEAS

    as
    1. Straka, Thomas & Bullard, Steven, 2006. "An Appraisal Tool for Valuing Forest Lands," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2006, pages 1-9.
    2. Straka, Thomas, 2007. "Valuation of Bare Forestland and Premerchantable Timber Stands in Forestry Appraisal," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2007, pages 1-5.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Agribusiness; Production Economics;

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