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.t 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.