Sec. 14 . Land which is classified under this chapter as native forest land, a forest plantation, or wildlands shall be assessed as follows:
(1) At thirteen dollars and twenty-nine cents ($13.29) per acre for general property taxation purposes, for the January 1, 2017, assessment date.
(2) At the amount per acre determined in the following STEPS for general property taxation purposes, for an assessment date after January 1, 2017:
STEP ONE: Determine the amount per acre under this section for the immediately preceding assessment date.
STEP TWO: Multiply the STEP ONE amount by the result of:
(A) one (1); plus
(B) the annual percentage change in the Consumer Price Index for All Urban Consumers published by the federal Bureau of Labor Statistics for the calendar year preceding the calendar year before the assessment date.
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