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Iso
by AustinC. 05/21/24 05:01 PM
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Re: Timber Companies
[Re: abolt300]
#2097568
04/25/17 09:47 AM
04/25/17 09:47 AM
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Joined: Jan 2009
Posts: 7,780 central ala,
centralala
14 point
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14 point
Joined: Jan 2009
Posts: 7,780
central ala,
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The statement that lease revenue doesn't cover property taxes is patently false. Alabama Property taxes on timberland are next to nothing thanks to the historical political pull of the wealthy landowners and timber companies. Heres a quick example. You own 2000 acres of timber land valued by the assessor at $1250/acre. The total fair market value is $2,500,000. Thanks to lobbying clout, because it is timberland, it is only assessed at 10% of that value which is $250,000. The statewide millage rate probably averages around .043 so the prop tax on that 2000 acres is only $10,750 plus $200 for the $0.10/acre timberland charge in AL so total taxes on 2000 acres is only $10,950. I'll pay that for a 2000 acre lease all day long and twice on Sunday. Just show me where to sign up. Negative. Under current use the number is around $1.25 (+/-) per acre. That is statewide. I'm not sure of the exact number but $1.25/acre is close. Now there are different classifications under current use but they all fall around the same $1.25. So, that 2000 acres will be about $2500 regardless of appraised value. Before I knew better I protested a property value. They cut the value in half but my taxes stayed the same because I had it in current. I now know better after wasting an hour for nothing.
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