Illinois Administrative Code
Title 17 - CONSERVATION
Part 1535 - TIMBER BUYER LICENSING AND HARVEST FEES
Section 1535.20 - Value Determination
Current through Register Vol. 48, No. 12, March 22, 2024
a) The value of timber purchased shall be the gross amount received by the owner and paid by the timber buyer for any interests involved in the timber purchase.
b) When timber is purchased in whole or in part by barter, the fair market value of the bartered item or service used as payment for timber or logs to the timber owner shall be used in determining the harvest fee due the Department of Natural Resources. Any payment made from any source shall require a 4% harvest fee payment to the Department.
c) If timber is cut from an owner's land without establishing the amount to be paid or the bartered value of the timber or logs, such timber or logs shall have the value set at the point in the marketing system where ownership changes at the mill or primary processing plant.
d) Value determination methods at the mill site, other than for logs for lumber, cooperage, piling, veneer, or pulpwood, shall be determined by the Department on request. All requests must state in detail the nature of the product and method of determining mill site value.
e) For timber cut on lands owned by a timber buyer or mill and used by that timber buyer or mill in its production process, value will be determined as a stumpage value. The Illinois Timber Prices Survey, for the quarter when the timber was harvested, may be used as a guide. ("Illinois Timber Prices" survey published by the Illinois Agricultural Statistics Service and the Illinois Department of Natural Resources.)