Stumpage

Part of speech: noun (n.)

1. 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.

2. A tax on the amount of timber cut, regulated by the price of lumber. [Local, U.S.] The Nation.