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Business Taxes Law Guide—Revision 2024
Timber Yield Tax Annotations
840.0045 Harvest Value Modification. Revenue and Taxation Code section 38204 authorizes the Board to modify immediate harvest value schedules to reflect material changes in such values caused by fire, blowdown, ice storm, flood, insect damage, or other causes, on its own motion or in response to an application from a timber owner.
Upon receipt of a written application for modification which includes a comprehensive statement of the facts on which it is based, the Executive Director will request from the Timber Tax Division a recommendation as to appropriate Board action. Should the recommendation be negative, the matter could be scheduled for a Board hearing at the owner's request. In the event the application is approved, the modified values would apply to all timber actually affected by the calamity in a given harvest value area. C 7/13/1977.