Indiana law allows a property owner to classify his or her property as (1) a forest plantation, (2) a wildland, or (3) a native forest land if the property contains at least ten (10) contiguous acres and meets the statutory criteria and the approval of the state forester. The criteria for determining if land qualifies as either of the three classifications is set out by statute. In return for the classification and the property owner’s abidance by the state’s rules, the property is assessed for real estate taxation purposes at one dollar ($1) per acre. (more…)