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11.10 Valuation of Forest Land
Authors: H ReynoldsPublication: NZIF Forestry Handbook, Volume Section 11 – Forestry business and investment, pp 10, Dec 2023
Publisher: New Zealand Institute of Forestry
Abstract: How should one go about valuing land used for forestry? The New Zealand Institute of Forestry’s (NZIF’s) Forest Valuation Standards (1999) state that this task should be referred to a Registered Land Valuer. Over the past decade registered valuers have grappled with issues relating to this question. On a number of occasions the Court’s direction has been sought. These cases have arisen from disputed land values for rating purposes or in connection with licence fee payments under Crown Forestry Licences (CFLs). The definition of land contained within a CFL differs from that contained within the Rating Valuation Act 1998. Courts have however concluded that these differences do not materially affect the land’s assessed value.