各位老师，请教个关于森林资源的评估。

　　Dear teachers, may I ask about the assessment of forest resources.

　　背景评估背景是不良债权的司法拍卖涉及的林权评估，评估对象是天然保护林和处于中龄林的用材林，林权剩余年限约20年。

　　The background assessment is the evaluation of forest rights involved in the judicial auction of non-performing loans. The evaluation objects are natural protected forests and timber forests in middle-aged forests, with a remaining tenure of about 20 years.

　　问题1、评估价值是否可定义为清算价值？

　　Question 1: Can assessed value be defined as liquidation value?

　　2、天然保护林的评估方法是什么，是否按年补偿金折现来确定评估值?

　　2. What is the evaluation method for natural protected forests, and is the evaluation value determined by discounting the annual compensation?

　　3、对于中龄林的用材林，采用收获现值法评估，如何确定到主伐期时的木材销售价格及销售成本，毕竟评估基准日到主伐期还有十多年的时间？

　　3. For medium aged timber forests, using the present value of harvest method to evaluate, how to determine the sales price and cost of timber until the main cutting period, after all, there are still more than ten years from the evaluation benchmark date to the main cutting period?

　　4、假设基准日林龄为14年，主伐期26年，距主伐期还有12年，可林权剩余年限为20年，则评估时假设到主伐期后一次性全砍伐，那么剩余8年的林权价值如何评估？

　　4. Assuming a forest age of 14 years on the benchmark day and a main logging period of 26 years, with 12 years left until the main logging period, and a remaining tenure of 20 years for the forest right, how to evaluate the value of the remaining 8 years of forest right if all trees are cut down at once after the main logging period?

　　个人认为，首先应当根据不良债权的情况确定林权的价值类型，清算价值的前提不一定符合林权的特点。蔡东伦1、法院司法拍卖的案件，看各地法院的操作思路，浙江这边一般是由评估机构出具市场价值，法院一拍二拍的时候快速变现系数是由他们自己操作的。

　　In my opinion, the value type of forest rights should be determined based on the situation of non-performing loans, and the premise of liquidation value may not necessarily conform to the characteristics of forest rights. Cai Donglun: For cases involving judicial auctions in courts, depending on the operational strategies of courts in various regions, in Zhejiang, the market value is generally issued by appraisal agencies, and the quick realization coefficient during the first and second auctions is operated by the courts themselves.

　　2、天然保护林大类属于公益林，需要看一下是属于国家级公益林还是省级公益林，然后优势树种是什么，一般来说也是用材林，公益林按照法律规定是不可以砍伐的，但是为了林木生长的需求，有疏伐的需求，可以考虑这一块的价值；然后还要关注一下生态公益林的补贴价值，权属是归企业所有，还是村集体所有；那么公益林价值就等于疏伐的价值+公益林补贴价值。

　　2. The category of natural protected forests belongs to public welfare forests. It is necessary to determine whether they belong to national or provincial public welfare forests, and what are the advantageous tree species. Generally speaking, they are also timber forests. Public welfare forests cannot be cut down according to legal regulations, but for the needs of forest growth, there is a need for thinning, and the value of this area can be considered; Then we also need to pay attention to the subsidy value of ecological public welfare forests, whether the ownership belongs to the enterprise or the village collective; So the value of public welfare forests is equal to the value of thinning and the subsidy value of public welfare forests.

　　3、收获现值法中未来木材的销售价可以跟中国木材价格指数网的统计数据，进行谨慎性的预测。

　　3. The future sales price of timber in the present value of harvest method can be cautiously predicted based on statistical data from the China Timber Price Index website.

　　4、这种情况下，一般是林木与林地分开作价。林地根据承包协议约定的林地租金，用年金资本化法来求林地价值，林木就按收获现值法来算，营林承本中扣除每年的林地租金。李厚东天然保护林不能砍伐，不应作为评估对象;其他商品林需注意受砍伐指标限制。廖愚夫保护林是不能采的，先看一下森林法和相关法律法规，把资料吃透、现行的法律法规了解清楚再说后面的事才妥。原提问人老师，还想请问下，如何确定它是国家级公益林还是省级公益林，因为产权持有人已经联系不上了，且我们去当地的林业局调档，因正处于林业局合并到资源局的时期，两边人员工作边界也不太了解，一无所获。另外对将来木材价格的谨慎性预测是否可以按目前木材现价预测呢？蔡东伦林业二调资料以及地形图属于机密文件，如果评估公司自己去拿。估计比较难，建议跟法院沟通一下，开具协助调查函。原提问人林调机构是否可以获取？蔡东伦可以。

　　4. In this case, trees and forest land are usually priced separately. According to the forest rental agreed upon in the contract agreement, the value of the forest land is calculated using the annuity capitalization method, and the forest trees are calculated using the present value of harvest method. The annual forest rental is deducted from the forest management cost. Li Houdong's natural protected forest cannot be cut down and should not be used as an evaluation object; Other commercial forests should be subject to logging restrictions. Liao Yufu's protection of forests cannot be carried out. First, check the Forest Law and related laws and regulations, thoroughly understand the information, and understand the current laws and regulations before proceeding with the rest of the matter. The original questioner, teacher, would like to ask how to determine whether it is a national level public welfare forest or a provincial-level public welfare forest, because the property rights holder cannot be contacted anymore, and we went to the local forestry bureau to transfer files. As it is currently the period when the forestry bureau is merged into the resource bureau, the personnel on both sides are not very familiar with the work boundary, and we have found nothing. Can the cautious prediction of future timber prices be based on current timber prices? The forestry survey data and topographic maps of Cai Donglun are confidential documents. If the evaluation company obtains them themselves. It is estimated to be difficult. It is recommended to communicate with the court and issue a letter of assistance in the investigation. Can the original questioner, the forest investigation agency, obtain it? Cai Donglun can.

　　1、价值类型如何选择？根据《人民法院委托司法执行财产处置资产评估指导意见》第十条规定，人民法院委托司法执行财产处置资产评估的价值类型一般为市场价值。

　　1. How to choose value types? According to Article 10 of the Guiding Opinions on Asset Appraisal of Judicial Execution of Property Disposal Entrusted by People's Courts, the value type of asset appraisal of judicial execution of property disposal entrusted by people's courts is generally market value.

　　2、天然保护林如何评估？天然保护林的森林类别属于生态公益林，生态公益林的价值由2块构成：

　　2. How to evaluate natural protected forests? The forest category of natural protected forests belongs to ecological public welfare forests, and the value of ecological public welfare forests consists of two parts:

　　①林木价值根据二类小班因子表记载，若该生态公益林的优势树种为用材林，如松杉阔。

　　① According to the second-class sub group factor table, if the dominant tree species of the ecological public welfare forest are timber forests, such as pine and fir trees.

　　评估思路如下：根据《中华人民共和国森林法》及相关公益林管理办法规定，公益林不能砍伐，但为了满足林木生长的需求，可以适当疏伐，其疏伐指标也需通过林业相关部门审批，取得林木采伐指标。因此在对待天然保护林的评估时，可以考虑在林权证权利时间范围的疏伐价值，一般其疏伐率根据相关统计，在总蓄积量的5-15%左右。若该生态公益林的优势树种为经济林，则不受其采伐指标的限制，可以用收益途径来测算其价值。

　　The evaluation approach is as follows: According to the Forest Law of the People's Republic of China and relevant management measures for public welfare forests, public welfare forests cannot be cut down. However, in order to meet the needs of forest growth, appropriate thinning can be carried out, and the thinning indicators also need to be approved by relevant forestry departments to obtain forest harvesting indicators. Therefore, when evaluating natural protected forests, the value of thinning within the time frame of the forest tenure certificate can be considered. Generally, the thinning rate is around 5-15% of the total volume according to relevant statistics. If the dominant tree species of the ecological public welfare forest is an economic forest, it is not limited by its logging indicators and its value can be measured by the income pathway.

　　②补贴价值关于生态公益林的补贴价值，评估人员需了解该块补贴价值的权属情况，是归企业所有，还是归村集体所有，各地的生态公益林补贴价通过林业部门查询可得。

　　② Regarding the subsidy value of ecological public welfare forests, evaluators need to understand the ownership of the subsidy value of the block, whether it belongs to the enterprise or the village collective. The subsidy price of ecological public welfare forests in various regions can be obtained by querying the forestry department.

　　3、中龄林用材林评估思路问题根据《森林资源资产评估技术规范》（LY/T 2407-2015），中龄林及近熟林资产评估宜采用收获现值法。主伐时间u应取该林分所属森林经营类型的主伐年龄的龄级上限、下限之间的年龄，并应恰当确定标准林分u年主伐时的净收益，技术经济指标按评估基准日时点取值。

　　3. According to the Technical Specification for Forest Resource Asset Evaluation (LY/T 2407-2015), the current value of harvest method should be adopted for the asset evaluation of middle-aged and near mature forests. The main cutting time u should be taken as the age between the upper and lower limits of the main cutting age of the forest management type to which the stand belongs, and the net income of the standard stand u during the main cutting should be appropriately determined. The technical and economic indicators should be taken at the evaluation benchmark date.

　　收获现值法：是利用收获预测被评估林木资产在主伐时净收益的折现值，扣除评估基准日后到主伐期间所指出的营林生产成本折现值的差额，作为被评估林木资产评估值的一种方法。其计算公式为：式中：

　　The present value of harvest method: It is a method of using the discounted value of the net income of the evaluated forest assets at the time of main logging to predict the harvest, and deducting the difference between the discounted value of forest production costs indicated from the benchmark date to the main logging period, as the evaluation value of the evaluated forest assets. The calculation formula is:

　　E—评估值；K—林分质量综合调整系数，综合调整系数的确定见附录C；Au—参照林分u年主伐时的净收益；Aa、Ab—参照林分第a、b年的间伐和其他纯收益（n>a，b时，Aa、Ab=0）；u—经营周期；n—林分年龄；Ci—评估后到主伐期间的年营林生产成本；P—投资收益率。

　　E - Evaluation value; K - comprehensive adjustment coefficient of forest stand quality, as determined in Appendix C; Au - net income of the reference forest stand during the main cutting in year u; Aa, Ab - Referring to the thinning and other net income of the forest in the a and b years (when n>a, b, Aa、Ab=0）； U - Business cycle; N - stand age; Ci - Annual forest production cost from evaluation to main logging period; P - Investment return rate.

　　关于主伐期的木材销售收入、及成本如何预测的问题，实务操作中分为2个思路。

　　There are two approaches to predicting the sales revenue and cost of timber during the main logging period in practical operations.

　　①.因林业行业投资回报期长，且木材价格波动较小，同时此类项目想获得相关财务数据的难度较大，可采取基准日的木材售价跟相关成本来进行测算。

　　①. Due to the long investment return period and small fluctuations in timber prices in the forestry industry, as well as the difficulty of obtaining relevant financial data for such projects, the timber selling price and related costs on the benchmark date can be used for calculation.

　　②.查阅中国木材价格指数、鱼珠木材价格指数，统计分析近几年被评估对象涉及的木材价格增长率进行谨慎性预测。

　　②. Refer to the China Wood Price Index and Fish Ball Wood Price Index, and statistically analyze the growth rate of wood prices involved in the evaluated objects in recent years for cautious prediction.

　　一般使用第一种思路的较多。

　　Generally, the first approach is more commonly used.

　　4、主伐期届满后，剩余林地使用权如何评估？林地使用权可根据林地承包协议，采用年金资本化话进行单独评估。具体租金参考市场周边案例，有租约的按租约约定的测算，同时需注意在中龄林收获现值法中的营林成本中将林地租金纳入成本范畴，避免出现重复评估。

　　4. How to evaluate the remaining forest land use rights after the main logging period expires? The right to use forest land can be evaluated separately through annuity capitalization based on the forest land contracting agreement. The specific rent should refer to the surrounding market cases, and for those with leases, it should be calculated according to the lease agreement. At the same time, attention should be paid to including forest rent in the cost category of forest management in the present value of harvest method for middle-aged forests to avoid duplicate evaluations.

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