"Cut last year" is almost meaningless. Did they cut the trees, but leave them in tree length until just before it was delivered this fall? If so, the wood will NOT be dry. If the wood was not stored properly, it also won't dry out: Stacked up off the ground (on poles or pallets) and exposed to the sun and wind is one good method (there are others).
In the end, to be considered seasoned, the average moisture content needs to be below 20%. (Average below 20% does NOT just mean the ends of the log are below 20%.) Around here, if I cut and split it in the fall, stack it on pallets a couple rows per pallet, exposed to the sun and wind, I can get most species down to 15% or less by the beginning of the next heating season. If I stack in single rows, or at least leave some good space between rows, I can get it to around 15% by heating season if I get it all split and stacked by late spring (I try to avoid pushing things that close, however.) In less than ideal conditions, it will take MUCH longer to dry the wood (for example storing it inside a garage, where there is no air flow, storing it in contact with the ground, or storing it stacked in the woods - where it's cooler, less wind, and relative humidity is higher).
Generally, most species will dry to the "fiber saturation point" - about 30% moisture content - rather quickly. Think of this as driving off the "free water" held within the wood. Getting below that point takes longer, since you have to drive the moisture out of the cells in the wood.
