Brock v. Farmington

One of the principal issues raised by these cases involves the standard by which the stumpage value at the time of cutting, on which a yield tax is assessed, is to be determined. On this question, the statute (Laws 1949, c. 295, s. 1) provides as follows: “ 'Stumpage value’ means the amount determined by the assessing officials in the same manner as other property values for the purpose of taxation. The assessing officials shall give full consideration to the amounts received from stumpage sales in the vicinity, prices offered for logs, pulpwood and fuel wood, current operating costs and…