Forest Management Plans

THE BASICS

NC Present Use Tax Deferment Program: Every land owner or land buyer has the potential to reduce their NC property taxes as much as 50% if they own at least 20 acres of marketable timber and provide a Forest Management Plan, with a future intent to harvest some portion of the timber. The landowner may utilize the NC State Forest Service, a registered forester, or a qualified natural resources professional to design and prepare his own plan, according to the owner's  long range goals.

Timing: The tax department only receives Forest Management Plans during the month of January for the coming year .  A new landowner must wait 4 years to submit a Plan. Upon selling the land, the former owner must pay the last 3 years of deferred taxes. It is possible to pass a Forest Management Plan with the property within 60 days of the purchase date, but it must be reviewed and updated for compliance. So it is a value to the new owner to have a Plan in place. Older Plans should be reviewed periodically.

Multiple reasons:  Reduced taxes annually, income revenue from timber, environmental planning, and long term value considered. The last two are well served by a forest naturalist and a real estate land broker.