Current issue: 58(4)
In this article the methods of forest valuation, especially the sales value tables previously published in Finland are critically examined. In this connection attention is drawn to the rate of interest used in calculating the forest values.
The PDF includes an abstract in English.
Silva Fennica Issue 92 includes presentations held in 1956 in the 8th professional development courses, arranged for forest officers working in the Forest Service. The presentations focus on practical issues in forest management and administration, especially in regional level. The education was arranged by Forest Service.
This presentation discusses different ways to determine the price of growing forest stock in settlement farms. The Settlement Act describes the main principles for the evaluation of forests. The growing stock of forest land has been devided into valueable and small timber. Construction timber and valuable trees are marked separately, and small timber is estimated by line survey. According to the act, the total price of a farm should be only what a sensible buyer would pay for it. Therefore, the value must be reduced to a reasonable price if the added value of the different parts is too high considering, for instance, the location of the farm and construction and clearing costs.
The Moscow Peace Treaty created a need to calculate values of large forest areas in Finland, such as the value of the private and state forests lost in the Second World War, or value of the remaining forests and the value of forests to be assigned to the evacuees. The article describes principles of evaluation of large forest areas. It concludes that use of felling value of the trees is the right method only if felling of the whole tree stand and sale of the wood is actually possible. If these prequisites cannot be fulfilled, the right method to evaluate the forest area is yield in terms of value. When calculating the yield in terms of value, also other incomes and costs related to fellings should be included.
The article includes an abstract in German.
An estimate of value of a forest holding is needed, for instance, when the holding is sold. There is, however, no standard method for forest valuation. This paper describes a method based on yield in terms of value that is estimated on the basis of cutting budget. The first, mensurational part of the investigation concentrates on calculation of cutting budget that can be used in forest valuation. Second part studies how chronological order of fellings changes allowable cut in forests that differ by age-class distribution and other structural properties. Structure and variation in the structure of silviculturally different forests are determined for the forests that form the data for the investigation.
According to the study, even if the forests studied in the investigation included forests which structure differed in their age-class distribution from normal forests, they could be managed in a such way that in 5-6 decades the age-class distribution resemble that of a normal forest, and have growing stock that correspond the stock of forests in Southern Finland, about 80-110 m3/ha. Based on this, the cutting budgets of the later decades of the first rotation can be assumed to be nearly even. The original age-class distribution of the forest affects, however, allowable cut of the forests during the first decade. The revenues of the first decade have small impact on the value, the later decades strong. Consequently, development of the most valuable part of the allowable cut, timber trees, has big impact on the value. The results show that in young forests the planned cut including the proportion of timber trees increases, in middle-aged forest it is relatively even, and in old forest declining. The results indicate the order of magnitude the planned cut can be in near future in diferent kinds of forests, and when different felling regimes are used to reach different goals.
The PDF includes a summary in German.
The aim of the study was to discover a model by which the determination of the discount value of a woodlot can be simplified so as to make it possible to avoid both the computation of a cutting budget and the customary discount procedure itself. The regression analysis of the cutting budget data that indicates the discounted amount of the fellings to be expected and the assortment composition can be discovered rather accurately as a function of the measured stand characteristics only.
The PDF includes a summary in German.
This methodical study aims at assessing discount value and its nature and function in setting a price for a forest holding. The aim is to study how the subject interested in buying or selling a woodlot could in the most meaningful way use discount value to prepare the sale and aid the decision making, taking account his personal interests. The paper includes a literature review on the determination of value.
It is concluded that woodlots have no «correct and real» values and, therefore, they cannot be calculated. Value is formed for the woodlots only in connection to the subject running the household, and his environment and actions. A discount value can be defined as a discount value of future net incomes. In the study different ways to calculate discount value are analysed.
The PDF includes a summary in German.