Landowners often need to determine the value of their timber. Forest inventories and timber value appraisals provide landowners with the financial information they need to determine their assets value. Inventories and appraisals are often conducted when property is listed for sale, transferred through an estate, purchased, or in the event of timber trespass.
A frequently missed step in land ownership is failure to establish a properties cost basis when the property is purchased. Most new landowners are unaware that the failure to establish the value of their timber at the time of purchase could cost them thousands of dollars in capital gain tax when a harvest is conducted in the future.