Forestland Tax Values to Stay Unchanged in FY 2021

26 Mar

Tax Valuations for woodlands enrolled in Chapter 61 or 61A will remain at the current levels for the tax year that begins on July 1st.

The Farmland Valuation Advisory Commission voted to keep the tax values for Chapter 61 and 61A land unchanged from the current valuation for fiscal year 2021 which begins July 1st.

The average valuation for woodlands west of the Connecticut River will remain $121/acre, while the average value for woodlands east of the river will stay at $98/acre.

West of the river, below average woodlands would be valued at $97/acre while above average woodlands would be valued at $146/acre.

East of the river, below average woodlands would be valued at $78/acre, while above average woodlands would be valued at $118/acre.

Christmas tree plantations would continue to be valued at $108/acre while not productive land such as wetlands or rocky land would be valued at $49/acre.

Under the formula, a 50 acre average woodland west of the river would be valued at $6,050 for tax purposes, and in a community with a $15/$1,000 valuation tax rate, would be assessed $90.75 in annual taxes under Chapter 61.

A 50 acre average woodland east of the river would be valued at $4,900 for tax purposes, and at a $15 tax rate, would be assessed $73.50 in annual taxes.

Values for Chapter 61 & 61A forest land are set using a formula MFA developed with assessors, the Department of Conservation & Recreation and Massachusetts Farm Bureau.  The formula is based on average stumpage price values, discounted to reflect that not all woodland growth can be harvested due to site and environmental considerations.