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We have recently purchased 18 acres of land about thirty five miles from where we live. Our plans are to relocate to a new home there within the near future. This week I will meet with a forester and walk the land. My intent is to have a forestry management plan written and to manage the acreage according to that plan. The plan is going to include the development of a two or three acre field, a therapeutic harvest with subsequent tree growth management as objectives of property ownership.
At this time, we will probably NOT place the acreage into "tree growth" for tax purposes. Right now, I am less concerned with the financial advantage of the plan as I am with proper stewardship of the land as a defining issue within my life. However, if it becomes necessary at some point in the future, we might place the land in tree growth for tax purposes.
The fact that we will be managing the land with an actual management plan, doesn't necessarily mean that we will be holding the land in "tree growth" as designated by the statutes governing taxation on woodlots.
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