City gets tax hit
The impact of a state program that reduces property taxes paid on forest lands will be felt in the city of Medford.
The city received word that a parcel of wooded property near Walmart has been enrolled in the Managed Forest Land (MFL) program. The program reduces the property taxes assessed to a wooded parcel in return for it being managed for logging production.
The city received word that Patrick Investment Properties, NMA Investments, and Timberdoodle Investments had filed a petition to enter 53.85 acres of property located off of Anne’s Way in the MFL program for 25 years beginning on January 1, 2019. By Department of Natural Resources (DNR) rule, the taxes collected are $2.04 per acre with the city retaining 80 percent or $1.63 per acre and the county retaining 20 percent or $.41 per acre.
See this week's issue of The Star News for the complete story.