Forest land: a warning to potential purchasers
Purchasers of private forest land should be aware that the land may be assessed at a higher value to account for the economic benefit of timber that was previously harvested on that land. Exit fees may also be charged if the property is removed from Managed Forest Class.
The property class that deals with private managed forest land is Class 7 Private Managed Forest Land. Land in this class is valued on a two-part basis, as detailed in s.24 of the Assessment Act .
The bare land value, which incorporates such factors as soil quality, accessibility, parcel size and location;