A Break on your Forestland Taxes
Many states have programs designed to encourage landowners to manage their land more responsibly and offer tax incentive to those who participate.
Today we will be talking about the program in Wisconsin, if you would like to learn more about programs in your state, drop me a note or give me a call.
Wisconsin’s Managed Forest Law (MFL) is a landowner incentive program that encourages sustainable forestry on private woodlands in Wisconsin. Together with landowner objectives, the law incorporates timber harvesting, wildlife management, water quality and recreation to maintain a healthy and productive forest. Sustainable forest management benefits Wisconsin’s economy, hunting, fishing, wildlife, recreation, soils, waterways, and air quality, and renews our beautiful forests for everyone to enjoy.
To participate in the MFL program, landowners designate property as “Open” or “Closed” to public access for recreation, and commit to a 25 or 50 year sustainable forest management plan. The plan sets the schedule for specific forestry practices which landowners must complete. In return, MFL participants make a payment in lieu of regular property taxes plus a yield tax on harvested trees. Yield taxes go to the local municipality to help offset the annual property taxes that are deferred while properties are enrolled in the MFL.
For more information on this or any other forestry matter, contact a forester at Woodland Management Service
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