A JOINT RESOLUTION directing the Department of Revenue and the University of Kentucky's Department of Forestry and Natural Resources to recommend equitable property tax assessment procedures for well-managed forests.
Impact
The resolution tasks the Department of Revenue and the University of Kentucky's Department of Forestry and Natural Resources with submitting a report by December 1, 2022. This report will include recommendations aimed at establishing equitable property tax assessments for well-managed forests. Such a framework is anticipated to encourage responsible forest management and prevent the potential unconstitutional taxation of lands that adhere to sound practices.
Summary
HJR41 is a Joint Resolution directed towards improving property tax assessment procedures for well-managed forests in Kentucky. The resolution highlights the importance of family-owned, non-industrial forests, which are crucial for sustaining economic contributions from the forest sector, valued at approximately $13 billion annually. The bill aims to motivate forest owners to adopt sound management practices, thereby sustaining the socioeconomic benefits derived from these resources.
Sentiment
The overall sentiment regarding HJR41 appears to be supportive, as it seeks to reconcile conflicting views on property tax policies that affect forest management. Legislators recognize the need for effective incentives for forest owners to support high standards of management, indicative of a practical approach towards sustainable forestry practices in Kentucky.
Contention
While no strong opposition is noted directly in the recorded discussions, the resolution acknowledges prior conflicting views that have impeded a uniform approach to property tax assessments in relation to forest management. The necessity for a nationally-recognized standard for valuation indicates the complexity surrounding this issue, potentially leading to debates about its implementation and the definitions of what constitutes 'well-managed' forests.
Urges and requests the Louisiana Department of Agriculture and Forestry to study and make recommendations on ways to increase urban forestry in the state.
Relating To Authorizing The Department Of Land And Natural Resources To Lease Pasture Lands On Terms That Promote Collaborative Beneficial Use For Forestry, Wildlife, Recreational, And Food Production Purposes.