forestry program

[deerfordinner]

hey so i mentioned in hunting 101 that i have been looking for a property with my dad lately. we are looking all over but mainly would like something in 82a as of all the tags there. the problem is everything i see for a nice price has this forestry ministry program along with it. my question is does anyone know exactly the restrictions and how long and what exactly you can and cant do with the land when its under that program ? thanks in advance just trying to see if anyone has had a property with this program or has ever done it before.

[JMatthews]

If there are any restrictions, they should be part of the title for the land and registered against the deed. My property has a conservation agreement on it but I can still hunt,fish etc on the property. You might also want to check with the local conservation authority to see what type of use is allowed.

[benjhind]

Are you talking about the Managed Forest Tax Incentive Program (MFTIP)?

MFTIP is essential for any woodlot owner in the south. Any parcel without MFTIP (or CLTIP) is taxed at a residential rate. The residential rate on 50 or 100 acres of bush will kill you. With MFTIP you pay the same tax rate as agricultural land (25% of the residential rate, I think).

Just google it. Essentially you have to put together a plan on how you will manage the bush. The program doesn't force you to do anything, it just ensures that you are consciously thinking about the bush and how it will change in the time that you own it.

Mine focuses more on the wildlife habitat value than the commercial timber value of the lands. It is written in a way that will allow for a variety of activities that will increase the quality of the habitat while providing my fuelwood and occasional commercial harvest.

Google will give you better information.

[JMatthews]

Are you talking about the Managed Forest Tax Incentive Program (MFTIP)?

MFTIP is essential for any woodlot owner in the south. Any parcel without MFTIP (or CLTIP) is taxed at a residential rate. The residential rate on 50 or 100 acres of bush will kill you. With MFTIP you pay the same tax rate as agricultural land (25% of the residential rate, I think).

Just google it. Essentially you have to put together a plan on how you will manage the bush. The program doesn't force you to do anything, it just ensures that you are consciously thinking about the bush and how it will change in the time that you own it.

Mine focuses more on the wildlife habitat value than the commercial timber value of the lands. It is written in a way that will allow for a variety of activities that will increase the quality of the habitat while providing my fuelwood and occasional commercial harvest.

Google will give you better information.

We have done this for the last 15 years. It costs approximately $1,000 to have a management plan dra wn up and submitted but it lasts for 10 years. On average we save $1,000 per year on our taxes. That’s a net savings of $9,000 in 10 years. Pretty much a no brainer.

[benjhind]

My 10-year plan cost me some time and a bottle of whiskey (a friend prepared it with my help). My taxes went from $3733 to $1169.

I wish all my investments could pan out like this.

[deerfordinner]

thnaks everyone for the replies this helps AALOT