The KWOA board has responded to an on-line survey put forward by the Commissioner of Agriculture by about the future of the Kentucky Agricultural Development Fund. Our responses focus on the value of sustainable forestry practices on family farms in terms of Ag Diversification and On-Farm Water Quality in planning for the future. Individuals may also take the survey. The deadline is August 31 and your can complete the survey here Kentucky Agricultural Development Fund Opportunity to Submit Stakeholder Input Survey (surveymonkey.com). KWOA response is here…
New report offers a roadmap for farmers and marketers who wish to join the expanding chestnut agroforestry market
Forests cover nearly half the state of Kentucky and are the foundation of a forest sector that is a major economic force in the Commonwealth. This webpage contains the latest Kentucky forest sector economic contribution estimates, prior estimates, links to data sources and methods, as well as additional information related to the economic importance of Kentucky’s forest resources.
NWOA posted this article from The Connecticut Mirror: ctmirror.org/2021/05/01/some-worry-wind-and-solar-will-gobble-up-forests-and-farms/
If you have been remodeling you already know the price of lumber has skyrocketed. KWOA continues to watch for more news, especially from the perspective of the woodland owner and the overall impact on sustainable woodland management practices. Two articles that look at the impact of climate change and the prognosis for sawmills:
Wildlands News: Bernheim Arboretum and Research Forest, Office of Kentucky Nature Preserves, and Kentucky Natural Lands Trust now have a new tool to help landowners protect their wildlands – a $6.8 million grant from the United States Department of Agriculture-Natural Resource Conservation Service (USDA-NRCS). The grant is provided through the Regional Conservation Partnership Program (RCPP) and will help Kentucky landowners use conservation easements to protect forests and connect wildlands corridors. The Greater Bernheim RCPP Project also includes support for outreach and education activities for conservation, water, and land stewardship.
While there are many reasons to enjoy woodland ownership, paying taxes on your property and the income you derive from them certainly aren’t among them. Making sure that you take every tax break to which you’re entitled can make the process slightly less painful.
In this article we’ve included several possibilities for tax savings. While most are focused on federal taxes, your state may also have some tax deductions and programs that could reduce your tax bill. In either case, remember that tax laws are complex. It’s always a good idea to discuss your specific tax situation with your accountant, your lawyer, or your tax professional.
*This post was written by Mary Lou Jay, a regular contributor to WoodsCamp blog and AFF's WoodLand Magazine.
KWOA encourages members of the Kentucky Woodland Community to contact their legislators in support of HJR 60, a joint resolution that would direct the Department of Revenue and the University of Kentucky's Forestry and Natural Resources Department to recommend equitable property tax assessment procedures for well-managed forests. Official wording for HJFR 60 is shown below. This resolution reflects the ongoing work of KWOA to advance the sustainability and fair tax treatment of private non-commercial forests. Full wording of HJR 60 is shown below posted on 2/11/2021. Also see the 1/28/21 posting for history and background regarding the resolution.
Please consider taking action now by calling the toll-free message line is 1-800-372-7181, to leave a messages for a legislators as follows:
You can track action on HJR 60 here: https://apps.legislature.ky.gov/record/21rs/hjr60.html
Official Wording for Proposed House Joint Resolution HJR 60
A JOINT RESOLUTION directing the Department of Revenue and the University of Kentucky's Forestry and Natural Resources Department to recommend equitable property tax assessment procedures for well-managed forests.
WHEREAS, well-managed, family-owned, non-industrial forests are central to providing the raw material that fuels the $13 billion in economic contributions from the forest industry sector annually, and
WHEREAS, incentivizing family forest owners, who own the majority of the forestlands in Kentucky, to conduct sound forest practices wiell help sustain the socio-economic benefits that forest resources provide to Kentucky; and
WHEREAS, pursuant to House Concurrent Resolution 13 of the 2002 Regular Session of the General Assembly, the Legislative Research Commission issued Research Report No. 307, which identified tax and related policies that had the effect of incentivizing or disincentivizing good forest management practices in the Commonwealth; and
WHEREAS, the examination of property tax issues impacting forest management practices in Research Report No. 307 produced conflicting views on how to equitably and constitutionally assess property taxes on well-managed forestlands; and
WHEREAS, this lack of agreement and failure to act upon the report's most important findings resulted in continued poor forest management of many forestlands in the Commonwealth and the potential unconstitutional taxation of forestland where sound forest management practices were being implemented; and
WHEREAS, significant developments have occurred since the issuance of Research Report No. 307 that would be helpful in finding the best policies for improving the productivity of Kentucky's forests, including the availability of a nationally-recognized standard that could be used by property valuation administrators to define well-managed forests;
NOW, THEREFORE, Be it resolved by the General Assembly of the Commonwealth of Kentucky:
Section 11. The Department of Revenue and the University of Kentucky's Forestry and Natural Resources Department shall coordinate together to submit a report to the Legislative Research Commission no later than December 1, 2021, detailing their recommendations for establishing property tax assessment procedures for well-managed forests that ensure equitable taxation of these lands and encourage sound forest management practices that will promote the sustainability of Kentucky’s forests and maximize the socio-economic benefits derived from them.