[Code of Federal Regulations]
[Title 36, Volume 2]
[Revised as of July 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 36CFR223.60]

[Page 93]
 
              TITLE 36--PARKS, FORESTS, AND PUBLIC PROPERTY
 
          CHAPTER II--FOREST SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 223_SALE AND DISPOSAL OF NATIONAL FOREST SYSTEM TIMBER
--Table of Contents
 
                     Subpart B_Timber Sale Contracts
 
Sec. 223.60  Determining fair market value.

    The objective of Forest Service timber appraisals is to determine 
fair market value. Fair market value is estimated by such methods as are 
authorized by the Chief, Forest Service, through issuance of agency 
directives (36 CFR 200.4). Valid methods to determine fair market value 
include, but are not limited to, transaction evidence appraisals, 
analytical appraisals, comparison appraisals, and independent estimates 
based on average investments. Pertinent factors affecting market value 
also considered include, but are not limited to, prices paid and 
valuations established for comparable timber, selling value of products 
produced, estimated operating costs, operating difficulties, and quality 
of timber. Considerations and valuations may recognize and adjust for 
factors which are not normal market influences.

[61 FR 5685, Feb. 14, 1996]

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