Saving
on property taxes was the primary motivation for a solid turnout at
last week's presentation by the Limestone Chapter of the Ontario
Woodlot Association. Wade Knight, of the OFA, spoke to a crowd of about
20 at Desert Lake Resort, and his message was well received.
The
topic was the Managed Forest Tax Incentive Program, which is
administered by the Ministry of Natural Resources. This popular program
requires woodlot owners to prepare and submit a 10 -year plan for the
management of the forested land on their property, in return for a 75%
reduction in the property taxes on the forested parts of their land.
The plan is relatively involved, requiring a detailed map of the
property, including non-forested areas, aerial photos, an assessment of
the volume and quality of wood on the property, and other elements.
Some woodlot owners prepare the entire plan themselves, but most enlist
the expertise of a forest consultant to complete the more involved
sections.
Cost of a plan completed by a forest consultant vary depending on the
size of the property and its accessibility, among other factors. For an
easily accessed 40-acre property in Central Frontenac, a consultant
would charge about $400 for a finished plan.
For more information about the Managed Forest Tax Incentive Plan call 1-888-791-1103.