Title
The Impact of site value taxation on the optimal time to cut timber when borrowing and lending rates diverge
Document Type
Article
Publication Date
9-1-1987
Abstract
The economic literature on forest taxation concludes that the timber cutting time is independent of changes in a site value tax, assuming such changes are fully capitalized into the market value of land. Adopting a continuous-time theoretical model that incorporates an imperfect capital market, it is demonstrated why empirical evidence might reject this hypothesis of "fiscal neutrality."
Publication Title
Forest Science
Recommended Citation
Merz, T. E.
(1987).
The Impact of site value taxation on the optimal time to cut timber when borrowing and lending rates diverge.
Forest Science,
33(3), 763-766.
Retrieved from: https://digitalcommons.mtu.edu/business-fp/262
Publisher's Statement
© 1987 by the Society of American Foresters. Publisher's version of record: http://www.ingentaconnect.com/contentone/saf/fs/1987/00000033/00000003/art00015