Revisiting the Valuation of Timberland--Terminology, Methods, And Case Studies‪.‬

ABSTRACT Appraising acreage improved with timber can be a challenge to an appraiser when it is not a part of an appraiser's normal course of business. This article reviews some of the relevant literature on the valuation of timber, explains common timber terminology, and presents real-world examples of methods that can be used to value timberland when a quantitative timber survey is not practical or too costly to meet the client's needs or expectations. While a forester's timber cruise survey will give a client the most quantitative valuation of the timber, the cost of a timber cruise survey may be too expansive for the client's needs. Thus, alternative qualitative approaches should be evaluated and considered by the appraiser.