Estimating Stumpage Values from Transaction Evidence Using Multiple Regression

B. Bruce Bare and Robert L. Smith

To estimate the stumpage value of individual species and qualities of timber in lump-sum timber sales for excise tax purposes, an eight-step approach for constructing the relevant data set is suggested. An example uses western Washington sales data, but the basic procedure applies to any valuation of individual species in a set of lump-sum timber transactions. In addition to producing credible stumpage value estimates, the modeling process allows examination of selected sale characteristics that influence the values. The proposed approach should be considered by appraisers and forest economists who seek an accurate, simple valuation strategy. JOF 97(7):32-39

To Return to:Prof Bare's Page, College of Forest Resources