La. Admin. Code tit. 70 § XVII-563
Current through Register Vol. 50, No. 11, November 20, 2024
Section XVII-563 - Timber ValueA. For assignments in which timber-producing lands are involved, particularly in areas where timber is grown for commercial purposes, it will generally be necessary to value the land and the timber separately. In some instances, it may become the responsibility of the appraiser to abstract the timber and land value from market sales of whole property timberland tracts. However, due to the specialized nature of timber appraisal, the LDOTD will most often secure the services of a registered forester to supply the value of timber upon a project or particular site. In those instances, the appraiser will provide the value of the raw land and include the value of the timber, as provided by the forester, within the report.B. In situations where the appraiser determines that the highest and best use of a tract is a greater use than timberland, the value of the timber will nevertheless be included within the report as an improvement item. However, at the appraiser's and review appraiser's discretion, the contributory value to the "highest and best use" may be zero.La. Admin. Code tit. 70, § XVII-563
Promulgated by the Department of Transportation and Development, Office of Real Estate, LR 33:1379 (July 2007).AUTHORITY NOTE: Promulgated in accordance with R.S. 48:443.