Free: Contests & Raffles.
This is specific to timberland. The legislature is clearly justifying a low property tax rate because of the public benefits timber provides. One of those public benefits cited is "recreational spaces". If now they are charging for recreational spaces, their taxes should go up accordingly. May need to tweek the law, but no public benefit, no tax break makes sense to me. (Isn't it funny that they announce this as the legislature is recessing?? Too late this year)RCW 84.33.010Legislative findings. As a result of the study and analysis of systems of taxation of standing timber and forest lands by the forest tax committee pursuant to Senate Concurrent Resolution No. 30 of the 41st session of the legislature, and the recommendations of the committee based thereon, the legislature hereby finds that: (1) The public welfare requires that this state's system for taxation of timber and forest lands be modernized to assure the citizens of this state and its future generations the advantages to be derived from the continuous production of timber and forest products from the significant area of privately owned forests in this state. It is this state's policy to encourage forestry and restocking and reforesting of such forests so that present and future generations will enjoy the benefits which forest areas provide in enhancing water supply, in minimizing soil erosion, storm and flood damage to persons or property, in providing a habitat for wild game, in providing scenic and recreational spaces, in maintaining land areas whose forests contribute to the natural ecological equilibrium, and in providing employment and profits to its citizens and raw materials for products needed by everyone.
Weyerhauser converted to a real estate investment trust a while back, so I'm not sure how that conversion has effected the calculation of their tax liability. With a status as an REIT, my guess is that there is an even greater focus on maximizing the profitability of their resources in the short-term. It was probably inevitable that there would be an attempt at some sort of monetization of hunting interest on their property.
The tax break is in the low assessed value. Pegged by law at a maximum of $234/acre and then on a sliding scale to a minimum of $1/acre. In Grays harbor most are near $150/acre.
I'm confused what tax break we are talking about if not property taxes. What other taxes are their based on land use?And yes, private property owners can do what they want with the land, the question is, how did they et this land? Was it granted to the, by us (gov't), or did they buy it (with funds not generated by selling land given to them by us)?Type of entity means nothing, as that drives federal taxes more than anything.
Plenty of info on REITs here: http://en.wikipedia.org/wiki/Real_estate_investment_trust
Under U.S. Federal income tax law, a real estate investment trust (REIT) (pron.: /ˈriːt/) is "any corporation, trust or association that acts as an investment agent specializing in real estate and real estate mortgages" under Internal Revenue Code section 856.
WH is most likely still classified as timber lands for WA state real estate tax purposes.