A comparative analysis of industrial timberland property taxation in the US South
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The Fair Market Value and property tax burden of industrial timberland in five southern states: Alabama, Georgia, Mississippi, North Carolina and South Carolina are compared. It is found that not only the Fair Market Value of timberland is the highest but also the tax burden is highest in the state of Georgia. Examining the factors leading to the high tax burden in Georgia with the analysis of some SAS models shows that location, population growth rate and Conservation Use Valuation Assessments usage are good predictors of land value. Several factors expected to be significant are shown to be insignificant in predicting timberland value. Further research is needed to prove if they are really insignificant. GIS maps are also used to illustrate the comparison of Fair Market Value and tax burden between the five states and draw a conclusion of the situation the states of Georgia is faced.