Which of the following is considered Qualified Timberland Property?

Qualified Timberland Property refers to land that is specifically designated for the growth and management of timber, and it is subject to certain valuation methods under the law. The key factor that establishes this qualification is how the timber is valued, particularly in compliance with specific legal provisions.

The correct answer identifies timber that is valued according to Article 13 provisions. This means that the valuation process adheres to a set of established guidelines or standards applicable to timberland, which may reflect the unique economic and environmental characteristics of these properties. Article 13 typically outlines criteria that must be met for timberland to be recognized under certain beneficial tax assessments or protections.

In contrast, the other options do not accurately describe the requirements for Qualified Timberland Property. Timber assessed at any point in time, timber growing in historic districts, and timber valued only at the time of sale lack the specific legal framework and valuation consistency that is characteristic of Qualified Timberland Property as outlined in Article 13. Understanding these distinctions is essential for recognizing the criteria that govern the management and valuation of timberland in various contexts.