ABSTRACT
In many forestry cases, the central task required of the forensic expert is to estimate the fair market value of a tract of timber or of some described offering of stumpage to be cut from a tract of timber. The chapter outlines three major approaches for estimating that value: (1) the cost approach, (2) the income approach, and (3) the comparable sales approach. Each is described along with the settings in which the approach may be particularly applicable. Sometimes, multiple approaches are useful and will require careful reconciliation when forming the final opinion of value. The chapter includes a separate case study about a specialized analysis of values in the condemnation of the Redwood National Park.
