Form 201 Fp - Forest Products Harvest Tax Return Sample (2004) - Oregon Department Of Revenue Page 8
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42Glossary
Ad Valorem—Annual tax based on value.
forestland at the request of the landowner and with
the approval of the county assessor.
Adjusted Gross Volume—An amount of wood
deducted from the gross volume that still has a com-
Diameter Breast Height (DBH)—The diameter of a
mercial value. This includes unsound wood that is
tree measured approximately four and a half feet from
still able to make chips for paper or wood that has
the ground.
been discolored by a fungus. Adjusted gross volume
Eastern Oregon—Baker, Crook, Deschutes, Gil-
plus net volume make up the taxable volume.
liam, Grant, Harney, Jefferson, Klamath, Lake, Mal-
Amended Return— A new form filed by the taxpayer
heur, Morrow, Sherman, Umatilla, Union, Wallowa,
to make necessary corrections showing the difference
Wheeler, and Wasco counties.
from the original return.
Estimated Tax—Tentative calculation of tax due.
Arm’s-Length Transaction—A written agreement
Fee Timber —Private timber that is owned free and
made in open market where there is no duress, each
clear.
party is independent of each other, and no trades or
hidden considerations are involved.
Forestland—Land where the highest and best use
is the growing and harvesting marketable species
Assessment—A billing for taxes when a return has
of trees or land that has a higher market value than
not been filed or a deficiency has not been paid or
forestland, such as commercial or residential prop-
appealed.
erty, but that is being held or used predominantly for
Business Identification Number (BIN)—Assigned
growing and harvesting trees and has been “desig-
by the Oregon Department of Revenue to every tim-
nated” as forestland through application to the county
ber taxpayer (individual or business).
assessor. Forestland does not include trees, buildings,
or machinery.
Board Foot—A unit of measurement representing
a board one foot long, one foot wide, and one inch
Gross Volume—The full volume of a log before
thick.
defects are subtracted. This volume is not used for tax
calculations.
Bolt—A segment sawn or split from a log or any short
log (usually cedar) used for shakes and shingles. Bolts
Hardwood—Generally, trees with broad leaves that
are not taxed.
are shed in winter and do not have cones. Usually
these trees have denser wood (alder, maple, and oak).
Chips—A small piece of wood used in the manufac-
ture of paper and particleboard.
Harvest Unit—A geographical area from which tim-
ber is harvested, no larger than 320 acres. It must be
Conifer—A tree with cones and needle-shaped leaves.
entirely within one county and one timber value area,
It produces wood known commonly as softwood (fir,
and must be harvested by a single method.
pine, spruce, and cedar).
Highest and Best Use Forestland—Land classified
Contract—A written, signed, and dated agreement
and assessed by the county assessor as Best-Use For-
with an explanation for logging showing rate, type of
estland.
payment (by the ton, lump sum, or thousand board
feet [MBF]), and the work to be completed.
Large Owner—A landowner who owns more than
5,000 acres of forestland in Oregon, or one who
Deficiency—A billing for taxes when errors on a
applied to be taxed as a large owner in 2000.
return are corrected during the processing of the
return or when, during an audit, a return is found to
Log Grade—An estimate of the type and quality of
have not reported all volume.
lumber recovered when the log is sawed.
Designated Forestland—Land that has a higher and
Log Purchaser—A company or person who purchases
better use than forestland and has been designated as
logs to be manufactured or processed.
8
150-441-409 (Rev. 2-05)
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