KENTUCKY 



TIMBER 



"General practice provides that merchantable 

 timber is not valued separately unless the tracts 

 have pole size and saw log size stands and are 

 used principally for growing timber. 



"The value of merchantable timber depends 

 on the kind and size of trees and the number 

 of acres of such trees. While young timberland 

 containing small growing trees has some value, 

 separable from the land, such value cannot be 

 realized without reducing the productive value 

 of the timberland. Therefore, the smaller trees 

 should be included in the value of the land, and 

 a separate value should be added only for pole 

 size and saw log stands. The main steps for the 

 appraisal of such merchantable timber are : 



a. Determine the approximate number of 

 acres which are covered with merchantable 

 timber. Aerial photographs, in addition to 

 field checks, furnish this information and 

 the use of a planimeter or grid gives the 

 number of acres. 



b. Estimate the number of pole size and saw 

 log stands of trees in every 1/5 acre (93 

 ft.) square or a circle with 52.7 foot ra- 

 dius) of the tract. The aerial photos and 

 the field inspection will assist in furnish- 

 ing information as to the number of acres 

 of mature trees. Multiply the 1/5 acre 

 counts by 5 to make estimate per acre. 



c. Multiply the total number of acres having 

 merchantable timber on the tract by the 

 average value per acre. The average value 

 per acre is estimated according to the qual- 

 ity and quantity of the stand. Accessibility 

 is of prime importance and deductions 

 should be made to reflect the added cost of 

 removing timber from inaccessible places. 

 Presence of public roads, rail or water 

 transportation considerably improves mar- 

 ketability." 



Kentucky Property Assessment 



Administration Manual 

 Department of Revenue 

 1958, rev. 1963, pp. 4.22-4.23 



PROCEDURE FOR APPRAISAL 

 OF MARKETABLE TIMBER 1 



The following pages outline the general pro- 

 cedure used by professional timber appraisers 



1 The following material is taken from the Real Prop- 

 erty Appraisal Manual, Dep. of Revenue, pp. 93-97. 

 1962. 



for valuing marketable timber. This procedure 

 should not be used by the inexperienced ap- 

 praiser without the assistance of a qualified 

 appraiser. It is included in this manual to point 

 up the complexity of timberland appraising and 

 for educational purposes. 



The base land value of any tract containing 

 timberland is determined by adding the value 

 of such timber to the base land capability value, 

 as described in the preceding section on rural 

 land valuation. 



The general practice in the valuation of tim- 

 berland for assessment purposes provides that 

 timber is not valued separately unless such 

 tracts have pole size and saw log size stands and 

 are used exclusively for the growing of timber. 

 Thus, young timberland or small windbreaks 

 and cattle shelter timber tracts are not con- 

 sidered in valuing timber. 



The value of timber depends on the kind and 

 size of trees and the number of acres of such 

 trees. While young timberland containing small 

 growing trees has some value separable from 

 the land, such value cannot be realized without 

 reducing the productive value of the timber- 

 land. Therefore, the smaller trees are included 

 in the valuation of the land, and a separate 

 value is added only for pole size and saw log 

 stands of timber. 



To be classified as saw timber, soft woods 

 (pines, cedar, hemlock, spruce) must be at least 

 nine inches in diameter at breast height (DBH, 

 414 feet above ground) and hardwoods eleven 

 inches DBH. To be classified as pole timber, 

 softwood should be five to nine inches DBH and 

 hardwood five to eleven DBH. The term pole 

 timber is simply a measuring term and does not 

 refer to the use which will be made of the tim- 

 ber. Pulpwood, for example, falls in the "pole 

 timber" classification. Unlike saw timber, which 

 is measured in board feet, pole timber is meas- 

 ured by the cord. Also, oak used for cooperage 

 purposes is measured in "bolt feet". Cooperage 

 timber is cut to approximately thirty-nine 

 inches in length. A stave bolt cut to this length 

 and measuring twelve inches from outer cor- 

 ners of the sapwood would contain one bolt foot. 

 Heading bolts are cut in twenty-four inch 

 lengths and it is not recommended that trees 

 less than twelve inches in diameter be cut for 

 this purpose. To convert board feet to bolt feet 

 or vice versa, a thousand board-foot log is as- 

 sumed to be the equivalent of one hundred bolt 

 feet, or sufficient quantity to make ten barrels. 



Accurate appraisal of standing timber in- 



36 



