What are the advantages of Chapter 61 classification?
This law was created decades ago to encourage the management of Massachusetts’ forests. It provides landowners a 95% reduction in the assessed value of approved forestland. But when they sell timber or other forest products, they must pay 8% of the stumpage value to the town where the land is located (BENEFITS SPREADSHEET). To receive approval under Chapter 61, landowners must commit to follow a 10 year management plan. The 8% stumpage tax works out to be less that the full assessed value (Chapter 59) tax except for land with very high value timber in towns with low assessed values.
