The Collaborative International Dictionary
Stumpage \Stump"age\, 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. [Local, U.S.]
Only trees above a certain size are allowed to be cut by loggers buying stumpage from the owners of land.
--C. S. Sargent.
A tax on the amount of timber cut, regulated by the price of lumber. [Local, U.S.]
n. 1 trees and other standing timber, treated as a commodity. 2 The value of this timber. 3 The right to fell such timber. 4 The fee for the right to fell such timber.
Stumpage is the price a private firm pays for the right to harvest timber from a given land base. It is paid to the current owner of the land. Historically, the price was determined on a basis of the number of trees harvested, or “per stump”. Currently it is dictated by more standard measurements such as cubic metres, board feet, or tons. To determine stumpage, any stand that will be harvested by the firm is first assessed and appraised through processes aimed at finding the volume of timber that is to be harvested. A given stumpage rate, measured in $/volume, is then applied to the amount of timber to be harvested. The firm will then pay this price to the landowner.