WVU Extension holds timber tax workshop

West Virginia

Landowners, natural resources officials and others gathered in Flatwoods Tuesday afternoon for a Timber Tax Workshop hosted by the WVU Extension Service.  Organizers said that while many people are familiar with doing taxes for their land, those with large amounts of forested land may not be getting the best value out of it.

“This event today is about forest taxation, and there’s a number of different issues that we’re hitting, mostly timber taxation.  Timber’s treated a little differently than other taxes, and a lot of landowners don’t have any idea really of how to deal with that,” said Dave McGill, forest resources extension specialist with the WVU Extension.

It’s also a way for people who already work with the state and federal governments to learn more about changing laws, including the ways the value of their lands and timber may be affected.

“This is a great opportunity for landowners and loggers and foresters and Department of Agriculture natural resources conservation services people to get together,” said John Cobb, who works to manage more than 300 acres of wooded land in Ireland, W.Va.

McGill said that whether landowners have thirty acres of wooded land or three-hundred, landowners around the state of West Virginia have something to gain from learning to value their land properly.

“There are all sorts of different ways timber can be sold.  So the first step really is to figure out how that’s going to be sold, and the main thing again, we recommend talking to a professional forester,” said McGill.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Link to 12 things you need to know page

WBOY 12 News Facebook Page

Trending Stories