CONTENTS xiii 



CHAPTER IX 



THE APPRAISAL OF DAMAGES 



ARTICLE PAGE 



133. Principles Underlying Appraisal of Damages 120 



134. Elements of Damage to Forest Property 122 



135. Physical Separation of Timber from Soil 122 



136. Separation of Value of Timber from Value of Soil 123 



137. A Basis of Damages: Cost of Replacement 126 



138. A Basis of Damages: Sale Value 128 



139. A Basis of Damages: Expectation or Capital Value 129 



140. Damage to Merchantable Timber 131 



141. Damage to Immature Timber: Partial Loss 132 



142. Damage to Immature Timber: Total Loss 133 



143. Damage to Forest Soil 135 



144. Damage to Single Trees 136 



145. Damage to Many-aged Stands 137 



146. Damage to Watersheds 137 



147. ./Esthetic Values 138 



148. Punitive Damages 139 



CHAPTER X 

 FOREST TAXATION 



149. Sources of Revenue from which to pay Taxes 141 



150. Tax on Income 141 



151. Tax on Value of^Property 142 



152. Taxable Value of Property 143 



153. Effect of Taxes on Property Values 143 



154. The General Property Tax 144 



155. The Problem of Taxation for Timberlands 145 



156. Distinction between Capital and Income in Timber Property 145 



157. The Problem of Interest in Forest Taxation 146 



158. Effect of Present Condition of Forest upon Choice of Methods of 



Taxation 147 



159. Scientific Taxation: Forest Property Tax - 149 



160. Scientific Taxation: Forest Land Tax 150 



161. Comparison of Taxes on Forest Rent versus Soil Rent 151 



162. Scientific Taxation: Income or Products Tax 152 



163. Scientific Taxation: Combined Capital Tax and Income Tax 154 



164. Taxes under the General Property Tax 155 



165. Effect of the General Property Tax on Forest Production 158 



166. Tax Reform for Forest Property 160 



