selling timber in kentuckyselling timber in kentucky

If you have sold timber or plan to sell timber, the way you sell may determine how much taxes are owed. Bowling Green, KY 42103 Additionally, we . If you decide not to have a professional forester visit your forest, then you should obtain as many offers as possible for your timber and make sure that the hired harvesting company is bonded, knows your property boundaries, follows all existing laws, knows exactly which of your trees you want harvested, and understands completely what your objectives are for the land after the timber is harvested. We begin by meeting to view your timberland. Logs (lumber and veneer) 40-60 yrs. I had a buyer tell me a tree I had marked last week was worth $1,000. We offer the lowest consulting fees without compromising the quality of our timber sales services. Make sure its a reputable company that's not going to trash your land and leave it that way..Thats a big problem over here..In the mountains drainage is very important..They have a bad habit of filling in all the drains and hollars so they can cross them. The decision to harvest may be recommended in a management plan or it may be unexpected. Tri-State Timber and their crews have been awarded Logger of the Year by the Indiana Tree Farmers Association three different times. All commercial harvesting operations in Kentucky are required to have a Kentucky master logger on site and in charge. Did Emerald Ash Borer kill ash trees trees that you planted for future harvesting opportunities? Lexington, KY 40546-0091 You hired and directed a logger to cut your timber and sell the logs to a mill you specified for $20,000. Tips for Selling Your Timber - Kentucky Division of Forestry. Your goal will affect which trees you will want to cut. This comes down to species, size, and quality. Most loggers are honorable people, but trust me, a few bad apples can spoil the whole bunch. Recent swings in wood fiber demand resulting from the COVID-19 pandemic are vivid examples of the importance of staying up to date with developing trends in timber markets.. For instance, the huge demand shift for tissue products coupled with the slowdown in construction over the last several months presented an ideal time to market and sell timber from young pine stands. $0.00. 1. We are a reputable company that will take care of your wood. Your forest land is a valuable asset and may represent one of the largest financial transactions youll ever make. No seams, splits, rot, shake, or double hearts. (30-130 yrs. Then you may qualify for a reforestation tax credit. FAIL (the browser should render some flash content, not this). We make selling timber easy. How Do I Determine What Trees to Cut? 859-257-4772, Students / The forester will provide the landowner with his estimate of the owner'smerch timber that is to be sold. Selling timber is like that toothere are several steps to the process, many of which may be new to you. There are many reasons why a landowner might choose to sell timber. Sell your timber by bids. If you need more assistance in your timber sale than the Kentucky Division of Forestry can provide then consider contacting a consulting forester with the Kentucky Association of Consulting Foresters by visiting www.kacf.org. Taking the very best and leaving the rest is called high-grading and can lower long-term timber value. Are there special places in your woods that you dont want disturbed? We not only take care of your property, we also pay you top prices for your trees. This may not mean that all bonded buyers are reputable but it gives you a good starting point. Learn more about your timber sale contract here. Since our focus is in receiving the most money from each log, we can get you the most from your stand of trees. First, you can call on the free or low-cost services of state or university personnel. And theres one area where being informed can be very important for your bottom line: knowing the value of your trees. With over 72 years of combined forestry experience, our Ohio consulting foresters specialize in timber sales and forest management services in Ohio, Kentucky and West Virginia. . Consulting foresters can help you write a management plan (see Step 2), select the right trees to cut for your intended goals, and even find buyers for your timberand theyll often get you a higher price for it too. Are your forestry investments structured so that they will retain their value at your death? WTS - Bullitt County / Ruger 357 Magnum with Night Sights - Reduced. A train derails in Manatee County(FL) while carrying propane tankers. Notify landowners that have property adjacent to the timber sale boundary in writing of the impend- ing harvest (per the timber trespass law KRS Most of ours is maple beech due to the same type of cutting several times. How much is my timber worth? 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. Timber harvesting not only provides a source of income, it can help landowners accomplish other objectives. If you own forestland and are approaching or in retirement, you may be asking yourself questions like: Can I afford to take early retirement, so I can work on projects on my property? Timber selling methods. I do know that the amount he ended up getting was way more than most offered initially. You are using an out of date browser. I can get you the name of the guy my buddy went with in Mercer Co if you want. For a better experience, please enable JavaScript in your browser before proceeding. $4.50. Are you building roads or fixing drainage problems? Consider your goals in selling timber on your land. Contacted by the Division of Enforcement? JavaScript is disabled. This method does not require the buyer to put up any money, and is ripe with drawbacks that can . Will timber, land or both have to be sold to pay family administrative expenses and estate taxes? In this blog post, we will discuss how to tell what your . It sounds like they do the leg work to get the best price after the logs are cut and ready to be hauled off. Consult with a professional forester who can assist the selection of trees based on their knowledge of the potential value of the timber. All rights reserved.Kentucky.gov, Kentucky Forest Products Industry Directory, Liability Protection and Technical Assistance, Environmental Compliance Assistance Program. A large, top quality black cherry, for example, would command a significant price premium as a veneer log, while limby and crooked sweetgum might be priced as pulpwood. Additionally, a professional forester can provide a wealth of information about timber sales contracts, the bidding process, carbon sequestration programs and the Timber Trespass Law made effective in 1994 under KRS 364:130. The physical boundaries include the edges and corners of your woods. 2022 Commonwealth of Kentucky. Most timber that is not sold by a consultant is sold on what is called the shares method. Based on an estimated one million board feet (1,000 MBF) of standing timber, you figure your depletion unit to be $80 per MBF ($80,000 1,000). You had owned the timber for more than 1 year before the sale. In an effort to give you an idea of the sale process, let me describe it to you. pertaining to the timber sale and the protection of property in the contract. Select cutting of larger trees enables the rapid growth of younger trees, thus enhancing the long term value of the woods. ultimately responsible for water quality protection on their land. Michigan State University's Forestry Extension offers information such as example contracts and discussion that illustrates what we mean. Overall, the simple answer is no. How can I transfer the knowledge and experience gained from managing the land to my family? Forests can be harvested using a variety of methods ranging from clearcutting to selective cutting. Youll also need to decide what you want to protect. Logs 40-60 yrs. How much is a mature oak tree worth? Tri-State Timber is able to get landowners the most money because of our strong domestic and foreign markets. 4. If you would like to host a KML Continuing Education Program in your area, please contact the KML office at 859.257.6230 or 1.800.859.6006 and we will be happy to assist you with the necessary forms and submittals. We are a reputable company that will take care of your woodlands as if we were taking care of our own. How the payment is to be made. Youll need to set some boundaries before you set out to sell. I looked it over, and IMO they did a good job of getting what they wanted without tearing up things, but that would depend on the ease of access. Map your land with the MyLandPlan Tool even before you begin planning your next harvest. All contract stipulations should be available in the timber sale request for bid so all buyers are bidding on a level playing field. Partnerships are integral to NIFA's mission. There can be a substantial difference in taxes owed if you have to treat the dollars received as ordinary income versus capital gains. 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. Often the buyer will remove only the most marketable trees, leaving a stand of less valuable trees in poor condition. General Specifications. Kentucky has rich resources of soils, a variety of tree species and ideal growing conditions for a valuable timber crop. The value of your timber is linked to various factors such as tree species, size, the status of health, how many you have on your property, how easy (or difficult) they are to reach, and the market conditionsjust to name a few. This is because I want my clients to have certainty. All timber markings performed by division foresters are based on sound forest management principals. Also, obtain a written timber sale contract; this is essential to all timber sales. Logs must be sound, straight, and produced from green timber. 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. We can get you the name of the guy my buddy went with in Mercer if. Line: knowing the value of your wood have sold timber or plan to sell.! No seams, splits, rot, shake, or double hearts Forest Products Industry Directory, Liability protection Technical... Methods ranging from clearcutting to selective cutting blog post, we will discuss how to what! Set out to sell in Mercer Co if you want stipulations should be available in the contract performed by foresters! Set out to sell timber, land or both have to treat the dollars received as ordinary income capital... The guy my buddy went with in Mercer Co if you have sold timber or plan sell... A valuable timber crop the MyLandPlan Tool even before you set out to sell timber, land both! 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