New Land classification "2c Managed Forest Land"

[deadeye]

Just to let any Minnesota forest land owners know the state just came out with a new land classification for taxes.   The new classification is "2c Managed Froest Land"  property with this classification has the value multiplied by .65 (approximatly a 1/3 reduction) for tax value.  There are a couple things that need to be in place for you to use this classification.  The first and most important is you must have a Forest Management Plan in place. (Also known as a Woodland Stewardship Plan).  The second thing is the land cannot be enrolled in the Sustainable Froest Incentive Act, CRP, CREP or RIM.   If you have a Woodland Stewdardship Plan (must be written less than 10 years ago) you have to apply by September 1st to qualify for the 2009 assessment, taxes payable in 2010.  If you qualify you have until next Monday (September 1st) to sign up. 
You can still signup after September 1st but it will delay the tax savings for one year.