Vermont Woodlands Resources
Woodlands Finances: Taxation & Current Use
Myths About Current Use- Part 2
In our ongoing look at Current Use this article is a continuation in debunking myths surrounding the program (Read the first article here). To quickly review, the Use Value Appraisal program (UVA), commonly known as Current Use, is a property tax incentive…
Current Use: Maintaining Enrollment
This next installment of our look at the Current Use program goes over actions landowners should take and considerations to keep in mind in order to keep their forests enrolled in the program. As was previously stated in earlier articles, for forestland…
Myths about Current Use – Part 1
In this third article about Current Use, we begin to explore some of the myths about the program. As in most cases, there are too many myths to cover here so stay tuned for more myths in the months to come. Use…
Current Use: What it Takes
In this second article about Vermont’s Current Use program, we explore how to get started. Current Use can apply to either agricultural land or forest land. For our purposes, we will focus on forest land. As always, we endeavor to provide information…
LEGISLATIVE WRAP UP October 7, 2020
The end of the 2019-2020 legislative session came at the fall of the gavel at 6:31 pm on Friday September 25. To say that the session was challenging is an understatement. COVID-19 created an unprecedented session; however, in the end, the Legislature,…
10 Answers about Vermont’s “Current Use” Program
In this first article about Vermont’s Current Use program, we try to provide some basic facts to interested landowners. Current Use can apply to either agricultural land or forest land. For our purposes, we will focus on forest land. For many of…
Use Value Appraisal: Interpretation of the “20% Rules” for Open Idle/Ag land, Site IV lands, and Ecologically Significant Treatment Areas (ESTA)
Use Value Appraisal: Interpretation of the “20% Rules” for Open Idle/Ag land, Site IV lands, and Ecologically Significant Treatment Areas (ESTA) Approved by Commissioner Snyder October 23, 2019 Background: In all cases, parcels enrolled in the Forestry Program of Use Value Appraisal…
Guide to Current Use
Do you own forestland in Vermont? Is it at least 25 acres? Vermont’s Use Value Appraisal (UVA) program, also called “Current Use” or “Land Use,” enables landowners who practice long-term forest management to have their enrolled land appraised for property taxes based…
New Cap on Capital Gains Exclusion
Author:VT Department of Taxes | | Date:June 27, 2019New cap on capital gains exclusion The existing 40% exclusion for capital gains will be capped at $350,000 under Act 71, Sec. 1, effective July 1, 2019. This means that any gain above $875,000 will be taxed at standard income tax rates….
A Charitable Idea and Tax Savings
Author:Trevor Evans | Organization:Woodland Owner and Tree Farmer | Date:June 1, 2018A Charitable Idea and Tax Savings Like many other VWA members, I turned 70 ½ in 2018 and was faced with my first annual mandatory Individual Retirement Account (IRA) distribution. And as 2018 draws to a close, I first must determine if…
Federal Tax Tips 2018 Tax Year
Author:Dr. Linda Wang | Organization:U.S. Forest Service Timber Tax Specialist | Date:January 1, 2018From National Woodlands Association, Winter 2017 Issue Tax Reform Issues for Forest Landowners and the Forest Products Industry Taxes have been consistently listed as one of the top concerns for the nation’s 10+ million individual and family private forest owners. Ultimately, taxes…
Policy Brief: Level the Playing Field
Author:Vermont Woodlands Board | | Date:March 17, 2017Public Policy Issue Brief: Level the Playing Field for Vermont’s Forest Landowners, Foresters, and Harvesters Background Vermont’s Forests play a major social, economic, recreational, and environmental role in the state, perhaps even greater than ever now that the state faces the task…
Changes in the Law Affecting the Current Use Program in 2015
Author:Steven J. Sinclair | Organization:State of Vermont | Date:June 26, 2015Summary of Content: Several changes occurred regarding Vermont’s Use Value Appraisal Program. Though several changes occurred, the largest change was likely relates to how the Land Use Change Tax (LUCT) is to be calculated and a temporary “Easy Out” period in which landowners…