434 MISC. PUBLICATION 218, U.S. DEPT. OF AGRICULTURE 
1930-31). If his income were £50,000 a year, the amount of tax paid 
would have been about £130 (£150 i in 1930-31). 
The actual assessment of the woodlands for local taxation was not 
obtained. In general this assessment 1s approximately equal to the 
gross annual value under schedule A, and was no doubt in this case 
about £525. The actual amount of the local taxes paid in 1927-28 
and 1928-29 have been given, and these would represent a rate of 
about 11s. in the pound on the annual value (55 percent) which is 
rather less than the average for England, which was 12s. 3d. (61 per- 
cent) in 1926-27. Since April 1, 1929, these rates are no ipen pay- 
able on the land. 
The tax situation of the forested portion of this sample estate will 
now be summarized. These woodlands, which are 2,000 acres in 
extent and have a capital value of about £110,000 ($535, 000), bring 
in a net annual income, before taxes and without allowance for the 
agent’s salary, of about £2 850 ($13,900) per annum. For purposes 
of income tax, this Income is assessed at £634 ($3,090) and when tax 
has been paid on this, a part, amounting to the tax on £269 ($1,310) 
can be recovered under the terms of the maintenance claim. Thus 
income tax and surtax are ultimately payable on £365 ($1,780). 
The rate of tax payable on this income depends on the total wealth 
of the owner. If his income were £10,000 ($48,700) a year, the rate 
(for Income tax and surtax) would be about 6s. in the pound or 30 
percent (about 7s. or 35 percent in 1930-31). At this rate he would 
have paid about £110 ($535) (£128 or $623 in 1930-31). If his in- 
come were £50,000 ($243,000) a year, the rate would be 8s. 10d. in 
the pound or 44 percent (10s. 3d. or 51 percent in 1930-31). At this 
rate he would have paid about £161 or $784 (£186 or $905 in 
1930-31). 
These are the amounts of tax assessed under schedules A and B. 
The estate does not take advantage of the benefits obtainable under 
schedule D. 
Until 1929 local rates were a much heavier tax on the woodlands 
than national taxation, and the amount of this tax was about £280 
($1,360) a year. Owing to derating, thisis no longer payable. It is 
possible that shooting rights will be rated in the future, in which case 
the rate on such rights would probably amount to about half the old 
rate on woodlands. 
This property also affords an example of the operation of the laws 
coverning death taxes with respect to forest land. The late owner 
died in 1923 and was succeeded by a distant relative. The total 
value of realty and personalty (including stocks and shares) was 
rather over £600,000 ($2,920,000) apart from the value of timber. 
Realty was £350,000 ($1,700,000). The death taxes payable were, 
therefore, estate duty, 27 percent, and succession duty, 10 percent. 
The total amount to be paid was about £220,000 ($1,070,000) apart 
from the duty on the timber. This was met by sale of stocks, shares, 
and a small property distant from the mansion, and by raising a 
mortgage of about £50,000 ($243,000). 
The standing trees and timber were valued for probate at £65,000 
($316,000) on which the taxes would amount to £24,000 or $117,000, 
but these taxes are paid on timber only as and whenitissold. Timber 
to this value will probably not be sold in the lifetime of the present 
owner, in which case the total amount of these taxes will never become 
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