| Property tax reduction for private forest landowners whose timber management is constrained by the presence of endangered species was investigated. It is hoped such incentive programs can alleviate some of the financial burden felt by affected individual private forest landowners. In East Texas, endangered species management on forestlands focuses on the red-cockaded woodpecker (Picoides borealis) (RCW), a cavity nester requiring mature living pine trees for nest excavation. The discounted cash flow methodology was utilized to compare per acre traditional short rotation (35 years) loblolly pine management with long rotations (100, 120, or 140 years) required for management of RCW habitat on low, medium, and high site index stands. Real interest rates of 0, 1, 5, 7.5, 10, and 12.5 percent were selected for discounting to provide a range of landowner alternative rates of return. (Abstract shortened by UMI.). |
