from The American Heritage® Dictionary of the English Language, 4th Edition
- n. Standing timber regarded as a commodity.
- n. The value of standing timber.
- n. The right to cut standing timber.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. Trees and other standing timber, treated as a commodity.
- n. The value of this timber.
- n. The right to fell such timber.
- n. The fee for the right to fell such timber.
from the GNU version of the Collaborative International Dictionary of English
- n. Timber in standing trees, -- often sold without the land at a fixed price per tree or per stump, the stumps being counted when the land is cleared.
- n. A tax on the amount of timber cut, regulated by the price of lumber.
from The Century Dictionary and Cyclopedia
- n. The right to cut trees on the seller's land. Payment is based on the measurement of the logs as they are brought to the landing and piled ready for the drive.
- Of or pertaining to stumps or stumpage; reckoned by stumps.
- n. Standing timber; timber-trees collectively, as in a particular tract of forest, with reference to their value for cutting or stumping, independently of that of the land.
- n. A tax levied in some of the United States on the amount and value of timber cut for commercial purposes.
This is the mill when you think about what a tree buyer wants this has a predictable cash flow with a long-term stumpage agreement to a pulp mill that has as its major customer on a taker [ph] pay basis a tissue user that is a pretty stable demand and so it is an attractive cash flow situation and we are confident that a successful sale will take place.
He eyed the wood with the knowingness of an authority on "stumpage," and added: "I don't know whether we made those rails or not; the fact is, I don't think they are a credit to the makers!"
Cappy Ricks had no definite ideas on the subject, for he didn't own enough of that kind of stumpage to grieve him.
a man who by following the surveyors 'lines on a piece of timber, and weaving back and forth across it, can judge its market value so nearly right that his employer, the prospective timber merchant, is able to bid intelligently for the so-called "stumpage" on the tract.
When forests are privately-owned, the owner wants to maximize the long-term return on land, so insists on a higher stumpage fee and a more sustainable logging pattern.
What happens is that government allocates more quota than can sustainably be harvested, and charges low stumpage fees wood royalties in exchange for promised jobs.
It also allows logging companies to concentrate on exporting raw logs, making their profit off the difference between wood value and stumpage.
Once these are determined, they can be incorporated into the price of trees as a stumpage tax.
Whereas ecological economists are likely to favor policies such as severance or stumpage fees that raise the costs of extracting raw materials (including cutting of timber), Georgists tend to recommend taxes on resources in situ, which has the effect of encouraging more rapid extraction.
If low-cost forms of access (e.g., winter roads on frozen ground) can be used, the area of forest with positive stumpage value increases.