NEW LISTING – 198 Acres in Cornville, Maine

Check out the website www.wildernessrealty.com for our first listing of the New Year.

 Cornville, Maine–198 acres.  This is a large parcel of land just outside of Skowhegan.  There is frontage on the Old Hilton Hill Road.  Power & phone are at roadside.  There is a gated interior gravel road that accesses the property for nearly ½ mile.  Overlooking Devils Bog, there is an 8+/- acre field that can easily be reclaimed.  The remainder of the property is managed woodland.

This property is game rich with good deer and turkey populations.  The land could easily be managed as an exclusive hunting preserve.  Another viable use for the property is farming.  It appears that portions of the land were farmed for crops in the past.  Finally, this could be a great property for an executive home site.

I am still looking for my fall pictures.  I think that they are on the boss’ camera and he is out of town.  Once I locate them, I will put them on the website.

TREE GROWTH TAX PROGRAM

Looking back at some of our posts, you are well aware of the economic advantages of owning timberland in Maine.  You may be wondering that this is all well and good, but there must be a “catch”.  There is, you must pay real estate taxes on an annual basis to maintain ownership of your timberland property.

Real estate taxes for timberland vary from town to town and can run upwards to $10 per acre, sometimes more.  There is a statewide program for owners of at least 10 acres of timberland which can reduce your taxes by 50% or more.  It is called the Maine Tree Growth Tax Law.

A property must be at least 10 acres in size to qualify.  A timber management and harvest plan prepared by a licensed Maine Forester is also required.  Re-certification is required every ten years.  There is a one-time penalty for any land withdrawn from the program or there is a change in use.

Some things to consider:

1. If you buy land that is already enrolled, you have one year from the date of transfer to keep it in the program (new management plan) or take it out (and incur the penalty).
2. You can take a portion of an enrolled property out of the program and pay the penalty only on that portion withdrawn.  One would do this if they plan to build on the land; withdraw 1 or 2 two acres for a building site and keep the remainder in the program.
3. You CAN harvest trees.  You are expected to harvest trees according to the management plan.
4. You can take a credit against your Maine Income Tax once every ten years.
5. If you are considering enrolling your property in the program, identify those areas that you or a future owner may want to develop.  It may be advantageous  for you to NOT include these areas in tree growth.

This is a wonderful program for timberland owners to reduce their real estate taxes.  For more information consult Bulletin No. 19 available from either the Maine Revenue Service or the Maine Forest Service.

LAND & TREES (part two)

Another good reason to own timberland in Maine.

Two of the local newspapers this weekend had several articles related to last week’s post.  There are plans in the State of Maine to produce, on a commercial scale, bio-fuels from trees.  The idea is to reduce this country’s dependence on foreign oil.

It appears that smaller trees may be used in the process.  This could potentially lead to a market for tree thinnings that are too small for pulp.  Instead of being a cost, the trees harvested during a thinning could mean income for the timberland owner.

New ideas are constantly being explored by researchers, entrepreneurs, and business people for the vast timber resource in Maine.  As more markets are developed for our timber resource, the greater the demand for timberland parcels.  A good time to purchase this commodity is before every Tom, Dick & Harry figure this out.  That time is NOW!

Check out the Wilderness Realty website.  We have for sale prime forestland tracts for the small, individual investor.  Prices are low, especially when compared to the rest of the East Coast.  Remember the old mantra—Buy Low, Sell High.

COMING SOON

Keep a sharp eye on our website and/or postings under this category for new land inventory this spring in Cornville and Dexter, Maine.

Our most recent listed property is the 49 acres in Jackson.  Check out the Wilderness website for more information regarding this property.

 

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