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Valuation of Bare Forestland and Premerchantable Timber Stands in Forestry Appraisal

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  • Straka, Thomas

Abstract

Rural appraisers often use Discounted Cash Flow (DCF) analysis to value timber and timberland. Land expectation value (LEV) is a standard DCF analysis technique that is applied to many timberland situations. LEV is used to calculate the value of bare land in perpetual timber production and is often used in the valuation of even-aged pine plantations. However, it can also be useful in the valuation of premerchantable timber stands and uneven-aged timber stands cut periodically. The analytical techniques appropriate to these applications are illustrated. These models have wide applicability in timberland appraisal situations.

Suggested Citation

  • 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.
    • Handle: RePEc:ags:jasfmr:189899
    DOI: 10.22004/ag.econ.189899
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    Cited by:

    1. Harou, Patrice A. & Zheng, Chinlong & Zhang, Daowei, 2013. "The Alternative Test in forestry," Forest Policy and Economics, Elsevier, vol. 34(C), pages 41-46.
    2. Straka, Thomas, 2009. "Appraising Damaged Timber," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2009, pages 1-10.
    3. Daniel W. Callaghan & Puskar N. Khanal & Thomas J. Straka & Donald L. Hagan, 2019. "Influence of Forestry Practices Cost on Financial Performance of Forestry Investments," Resources, MDPI, vol. 8(1), pages 1-16, January.

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    Keywords

    Land Economics/Use;

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