In re Appeal of Davis

ORR, Judge.

In 1990, Taxpayer acquired property from the United States Forest Service (the “USFS”) in exchange for other property Taxpayer owned individually. Prior to the exchange, the property Taxpayer conveyed to the USFS had been classified and carried as “individually owned forestland” under N.C. Gen. Stat. §§ 105-277.2, -277.3 for ten or more years. Further, thé property Taxpayer received from the USFS was sixty-two acres of land which had been held and used by the USFS for commercial growing of trees under the government’s forest management program and was exempt from assessment and…