Washington (Summary)
Tax Type: Current use value based on forest productivity combined with a yield tax.
Description: Current use based on ability of land to grow trees and a 5% yield tax.
Law: The 1971 Forest Tax Law Chap. 84.33 RCW, Revised 1993. WAC 458-40-500 to 458-40-600
Objective: Provide a uniform, predictable and fair tax for forest landowners, ensure that taxes will not destroy economic incentives for growing timber on private timber lands.
Forest Tax Program Requirements
Min/Max Acreage: 20 (or 5 if open space)
Min. Stocking Growth: N/A
Forest Management Plan: Land owner prepares a timber management plan as part of the application process.
Duration of Enrollment: 10 years
Penalties for Use Change: Rollback 10 years
Program Administration
State: Department of Revenue advises the counties on management plans and answers questions on the administration of the statutes.
County Tax Assessor and Commissioner: County Tax Assessor administers the program.
University: N/A
Landowner: N/A
For a more in depth discussion of Washington property taxes click here!