You can subtract the value of the timber when you first purchased or inherited your woodlot – your "basis" – from your taxable income when you have a timber sale. This reduces your taxable income. If you don't know your woodlot's basis, a consulting forester can help you determine it.
Watershed Qualified Foresters have an associate’s or bachelor’s degree in forestry and have received additional training in water quality protection from the New York City Watershed Agricultural Council. Most of these foresters focus on woodlands in southeastern New York.
NYS Cooperating Foresters are those listed with the states Department of Environmental Conservation. This statewide list shows where foresters work by numbered regions. Use the link below to determine which region your land is in.
480-a offers the potential for you to save substantially on your property taxes, but it also requires a commitment to managing your woodlot for the next 10 years. Consider the benefits and obligations carefully before you enroll.
Agricultural assessments can reduce your property taxes for land actively used for farming. Many farm products qualify, but the program has acreage and earnings thresholds and time commitments. Consider the benefits and obligations carefully before you enroll.
How you report income from logging and how much tax you owe depend on which of 3 tax classes your woodlot falls into. You can determine your woodlot's tax class by answering a few simple questions about why you own it and how you use it.