Ill. Admin. Code tit. 17 § 1535.25

Current through Register Vol. 48, No. 49, December 6, 2024

Section 1535.25 - Aggregate Value Determinations of Timber

a) Primary determination of the aggregate value of timber shall be the total dollar value paid at the first point of sale or change of ownership.

b) Secondary determination of the aggregate value of timber shall be calculated using the Doyle Log Rule, as published in the Forestry Handbook Second Edition (1984) edited for the Society of American Foresters by Karl F. Wenger and published by John Wiley and Sons, to determine volume. The average dollar amount of the commercial timber for tree species had it been offered for sale on the open market will be used for the price. The Illinois Timber Prices Survey for the time frame of the timber harvest, shall be used to determine the commercial timber value.

Ill. Admin. Code tit. 17, § 1535.25

Added at 27 Ill. Reg. 7761, effective April 21, 2003

Amended at 48 Ill. Reg. 8643, effective 5/30/2024