West Virginia Tax Department Adopts Rule on Timberland Valuation

The West Virginia State Tax Department adopted a rule establishing procedures for the classification and valuation of timberland and managed timberland for property tax purposes. The regulation creates a framework for appraising managed timberland based on potential future income using discounted cash flow analysis and site productivity grades. The rule took effect April 28. [W. Va. Dep’t of Tax & Revenue, Reg. Section 110-1H, 04/28/26]