Stumpage is standing timber The value of standing timber is its "stumpage rate" or "stumpage value"-however, in practice the term "stumpage" is frequently applied as meaning the value of standing timber usually expressed in dollars per thousand board feet
The forest royalty - a tax levied on the quantity (and, ideally, the full economic value) of timber from publicly- or privately-owned lands, i e the fee or price of standing trees prior to logging operations