Terms & Definitions

Terms and Definitions

Current Use: is a phrase used to describe the present condition of land use and corresponding scheme for property tax incentives for qualifying land owners (typically rural) who wish to preserve forest land as forest land, agricultural land, fields; and avoid having their property assessed at the "best and highest" use that could be made of it (i.e., a housing development or a commercial use). There is a minimum number of acres required in order for property to qualify for current use.

Biomass: In the forest industry, residue such as wood chips, slash, tree limbs, etc. are considered as biomass. Biomass is used as a source of fuel or energy.

Yield Tax: (RSA 79:1-12)The normal yield tax is assessed at the rate of 10% of the stumpage value as assessed by the town assessing official.

Notice of Intent to cut: At the beginning of each tax year (April 1st) and prior to the commencement of each cutting operation, any owner intending to cut or intending to allow another to cut growing wood and timber must file a notice of intent with the proper assessing officials in the town where the cutting is to take place.

Report of Cut: All owners of wood and timber who have filed a notice of intent to cut must file, within 60 days after an operation is complete, a report of all wood and timber actually cut. The cutting of growing wood and timber during an operation that was not supported by a notice of intent to cut must also be stated on the report. The reports must contain the name, residence, and social security number of the owner, volume of wood and timber cut by species or species group and primary products, and other information as necessary to enable the assessing officials to locate, identify, verify and determine the full amount and true stumpage value of the wood and timber cut.

Selective Cutting: The harvesting of trees on an individual selective basis, to encourage the growth of the remaining trees in a forest or woods.