Section 84.33.010. Legislative findings.

As a result of the study and analysis of systems of taxation of standing timber and forestlands by the forest tax committee pursuant to Senate Concurrent Resolution No. 30 of the 41st session of the legislature, and the recommendations of the committee based thereon, the legislature hereby finds that:

(1) The public welfare requires that this state's system for taxation of timber and forestlands be modernized to assure the citizens of this state and its future generations the advantages to be derived from the continuous production of timber and forest products from the significant area of privately owned forests in this state. It is this state's policy to encourage forestry and restocking and reforesting of such forests so that present and future generations will enjoy the benefits which forest areas provide in enhancing water supply, in minimizing soil erosion, storm and flood damage to persons or property, in providing a habitat for wild game, in providing scenic and recreational spaces, in maintaining land areas whose forests contribute to the natural ecological equilibrium, and in providing employment and profits to its citizens and raw materials for products needed by everyone.

(2) The combination of variations in quantities, qualities and locations of timber and forestlands, the fact that market areas for timber products are nationwide and worldwide and the unique long term nature of investment costs and risks associated with growing timber, all make exceedingly difficult the function of valuing and assessing timber and forestlands.

(3) The existing ad valorem property tax system is unsatisfactory for taxation of standing timber and forestland and will significantly frustrate, to an ever increasing degree with the passage of time, the perpetual enjoyment of the benefits enumerated above.

(4) For these reasons it is desirable, in exercise of the powers to promote the general welfare and to impose taxes; that

(a) the ad valorem system for taxing timber be modified and discontinued in stages over a three year period during which such system will be replaced by one under which timber will be taxed on the basis of stumpage value at the time of harvest, and

(b) forestland remain under the ad valorem taxation system but be taxed only as provided in this chapter and RCW 28A.150.250.

[ 1990 c 33 § 598; 1984 c 204 § 16; 1971 ex.s. c 294 § 1.]

NOTES:

Purpose—Statutory references—Severability—1990 c 33: See RCW 28A.900.100 through 28A.900.102.

Savings—Effective date—1984 c 204: See notes following RCW 84.33.035.

1990 c 33 § 598; 1984 c 204 § 16; 1971 ex.s. c 294 § 1.