Masters Theses

Date of Award

12-1973

Degree Type

Thesis

Degree Name

Master of Science

Major

Forestry

Major Professor

Garland R. Wells

Committee Members

D. M. Ostermeier, O. S. Fowler

Abstract

The enactment of the Property Assessment and Classification Act of 1973 created the need for a different method of assessing timberland. The Act exempted timber and provided for present-use assessments. The history and evolution of the ad valorem tax system in Tennessee were examined. Attention was given to the biases of the unmodified ad valorem tax as applied to timberland. The productivity concept was defined, and its variations were examined to determine which would be applicable for the assessment of timberland in Tennessee. Attention was given to the "bare-land", "modified", and "sustained yield" productivity approaches, and the market value adjustment approach. The "bare-land" and market value adjustment approaches appeared to best fulfill the requirements of the present law in Tennessee. The "bare-land" and market value adjustment approaches were examined to determine whether either could be possibly implemented. The "bare-land" approach was found, theoreti-cally, to be the most correct. This approach is similar to the income method of appraisal when land is assumed bare and its value is derived from expected timber production. It was hypothesized that both approaches can be implemented, even though limitations could be associated with both.

Download
Files over 3MB may be slow to open. For best results, right-click and select "save as..."

Share

COinS