Timber is valued at which point according to the regulations?

Timber is valued based on its fair market value at the time of harvest or sale because this reflects the price that a willing buyer would pay and a willing seller would accept under normal market conditions. This valuation method takes into account current market dynamics, such as demand and supply, the quality of the timber, and how it compares to similar timber in the market.

This approach is crucial for ensuring that the valuation accurately represents what can be expected in real transactions, making it a key principle in appraisals. By focusing on the time of harvest or sale, the valuation aligns with the actual conditions of the market, rather than projecting potential future earnings or values that may change based on various factors, such as growth rates or regional averages. Therefore, valuing timber at its fair market value ensures a realistic and fair approach to assessment relevant to the present economic scenario.