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Have you recently acquired land and found yourself thinking: “What do I do now?” No worries! Canvas is here to help!
Canvas provides consulting services to help you get the most out of your newly acquired land. Whether it is timber production, wildlife management, agricultural use, recreation, or a combination, Canvas has the expertise to provide the guidance you need. Canvas can guide you in the planning stages or be as involved as you’d like in the implantation of your management plan! We created this guide to provide a starting point and to highlight some of the things to consider early-on.
You’ve bought the property, now what? The first thing you need to figure out is what you want to get out of your property. Do you want to create high quality deer habitat for hunting or wildlife viewing? Do you want to maximize revenue from timber production? Do you want to create recreational trails? The possibilities are endless! Setting specific goals for your property and your property management is a critical step in maximizing your property enjoyment.
Once you have a goal or multiple goals identified, it is time to set specific objectives. For example, if your goal is to create high quality waterfowl habitat and to have excellent duck hunting on your property, your objectives may include managing existing water bodies, installing water control structures to create an artificial marsh, managing vegetation composition and structure, and installing wood duck nesting boxes.
If your goal is to maximize timber productivity and provide a steady cashflow, your objectives will likely include establishing a timber basis, conducting a timber volume assessment, and dividing your property into manageable stands at various stages of a timber rotation.
It is often best to involve a professional forester and/or wildlife biologist early on in the planning process. Our experienced land managers can help you create a comprehensive management plan to ensure all of your goals and objectives complement each other and don’t conflict.
Don’t let the idea of a management plan scare you. A management plan is there to guide your through the steps of taking care of your property and will allow you to be better prepared. Management plans are intended to be a guide but can change over time. Sometimes goals change, objectives change, or we run into unexpected changes caused by things out of our control. If this happens, changes can be made to the management plan as needed.
If the property you have acquired contains timber, it is beneficial to collect sufficient data to determine a timber basis. A timber basis is defined as the value of the timber on the property at the time it was acquired. A timber basis is used to determine the taxable gain when timber is subsequently harvested. This value can usually be accurately determined through a timber volume assessment, sometimes referred to as a timber cruise. Having a timber basis can also be important in cases of timber loss through timber theft, catastrophic wildfires, or other unplanned causes.
Your county appraisal district will bill you annually for your property taxes. Property taxes are determined by the value of your land and improvements. If you’re managing your property for traditional agricultural use, timber production, or wildlife management, your land may qualify for a 1-d-1 agricultural appraisal. These appraisals are often referred to as timber exemptions or agricultural exemptions. While a 1-d-1 appraisal does not mean you don’t have to pay any property taxes, it may result in significant saving on property taxes.
The specific requirements to qualify for a 1-d-1 appraisal vary by situation and by County. Canvas Foresters and Biologists can assist you with all your 1-d-1 requirements.
Now that the first steps are taken care of, it is time to get boots on the ground and make your vision a reality!
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