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- Title
Observing Forest Property Tax Enrollment Preferences in Light of a Multiyear Restriction on Development.
- Authors
Bagdon, Benjamin A.; Kilgore, Michael A.
- Abstract
The cost of an 8-year developmental deed restriction for nonindustrial private forest (NIPf) owners in Minnesota was estimated by examining the property tax records from 1,200 landowners (1,341 parcels) who enrolled in one of two property tax incentive programs that promote sustainable forest management. These programs were the Minnesota Sustainable forest Incentive Act (SfIA) and the Minnesota 2c Managed forest Lands (2c) program. The coexistence of these two programs provided a unique opportunity to analyze empirical data on NIPf resistance to a temporary loss of developmental rights. This study found that a majority of the landowners in our study were willing to forego substantial annual property tax savings (S422 on average) to avoid the deed restriction required El by the SfIA program. A logistic model was developed to predict the probability of enrollment in the SFIA program over the 2c program. Developmental pressure, as measured by two proximate variables, and the level of annual financial savings offered by each program, were highly significant variables in predicting a landowner's enrollment decision.
- Subjects
TAXATION of timber; EFFECT of light on plants; PLANT development; FORESTRY laws; SUSTAINABILITY; RIGHT to development
- Publication
Northern Journal of Applied Forestry, 2013, Vol 30, Issue 2, p58
- ISSN
0742-6348
- Publication type
Article
- DOI
10.5849/njaf.12-016