How much is a buck worth? About $160 per acre

Published: January 14, 2010

CLEMSON — How much is wildlife worth in setting the value of forestland? A Clemson University forestry professor has determined a way to figure the value of a big buck or a covey of quail. The method provides an economic tool for rural land appraisers and landowners to analyze new financial opportunities.

Tom Straka has devised a method for including the value of hunting leases in forestland value.

“Using Southern hunting lease revenues and a 4 percent real discount rate, hunting leases increased forestland values by $160.25 per acre on average, certainly a significant contribution to value,” said Straka, adding that his valuation model can be readily adapted to most forest-land management plans.

“Recent trends within the forest products industry have caused a great deal of forest-land owners to ponder whether they should convert their forestlands to other uses," writes Straka. “The land values established by appraisers can have great influences on such decisions. Appraisers often incorporate the many characteristics of the forestland when determining a value, but the influence of a simple hunting lease should not be underestimated. “

Hunting leases offer added benefits.

“Trespassing is a concern among family forest owners. Uninvited guests have been known to steal timber, poach wildlife and plant species, and even start forest fires. Reduction of property damage occurs because the leasee gains an active interest in the property and usually spends considerable time scouting and recreating on the property outside of actual hunting time,” notes Straka.

Family- and individual-owners of forests — often referred to as family forests — make up about 92 percent of U.S. private forest owners and encompass approximately 62 percent of the private forestland, according to researchers. The South has more than 70 percent of the private family forest property leased for hunting. While this study concentrates on the South, results apply to forestlands across the United States, according to Straka.

Nationwide, there are approximately 12.5 million hunting license holders. Hunting-related products and services generated almost $23 billion of economic activity (some $700 million on hunting licenses alone) in 2006. More than 10 million hunters — about 82 percent — hunt on privately owned land, according to U.S. interior department data.

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