FOREST TAXATION IN THE UNITED STATES 437 
No maintenance claim is made for woodlands, as it is deemed that 
this would not amount to more than the one-eighth statutory allow- 
ance for repairs. 
Table 126 is a comparative statement of the amount of local taxes 
or rates for the year ending September 30, 1930, showing amount of 
rates actually paid and the amount that would have been paid had 
derating (elimination of local rates or taxes on farm and woodlands) 
not come into force. The ratable value previous to derating was in 
each parish rather less than the gross annual income for income tax. 
The continuance of the payment of rates is presumably due to the 
assessment of sporting rights. 
TaBLE 126.—Effect of derating on local taxes on property no. 2} 
Amount of 
Ratable Amount of 5 
Present 9 Rat 5 saving to 
: ; Rate in value pre-| Ratein! rates that 
Parish pate pound wend vious to | pound | would have Deere 
derating been paid derating 
£ s. d. gs. d.| £ 8. d. LS G3 al Lu Sis Susans 
PARTIDO Hel erage et 24 0 0 8 3 918 0 153 1 O 8 3 (oh a) SAS 
Farley ChamberIne_._ _-_-._- 47 0 0 8 4] 1911 8 49 17 6 8 4 20 15 8 140 
ELUTE ST @ yes ihe UY CE 63 0 0 8 lk) 25 6 8 320 14 0 8 Ww 128 18 11 103 12 3 
Iinees: SOMDORMe sa se SU aR ER Ee ea aa iE UAT 105 10 0} 11 O 58 0 6 58 0 6 
Michelmersh..__-___----.-_--_- 25 0 0; 10 9/18 8 9 40 0 0} 10 9 2110 O 8§ 1 3 
SPORTS LAO pee ea AOR VN Le rk [BNE ap CAPM LS VAGINA 154 0 0 9 11 76 7 2 76 7 2 
ERotall soo os vane 118) Oh Oa 68 5 ‘| yBY OC el | 3681411| 300 910 
1 Source of data: Statement by the agent of the property. 
To summarize the situation of the forested portion of this property 
with reference to taxes, the woodlands, which extend to 2,579 acres, 
have a capital value of £60,000 ($292,000) to £100,000 ($487,000). 
The net income is impossible to determine accurately, because the 
profits from the sawmill are unknown, but it probably amounts to 
about £500 ($2,430) per annum before pay ng taxes. 
The amount paid in taxes was about £500 ($2,430) to the National 
treasury (£600 or $2,920 in 1930-31) and £365 ($1,780) in local rates, 
which last amount was reduced to £68 ($331) by the derating act 
(Local Government Act), 1929. 
Thus the amount of the taxes still exceeds the net income; before 
1929 taxes exceeded the net income by 70 percent. 
The capital appreciation of the woodlands owing to growth probably 
approaches £1,000 ($4,870) a year. 
Very considerable savings in taxation might have been obtained by 
electing to have the young plantations assessed under schedule D in 
place of schedule B. 
PROPERTY NO. 3 
This is a small estate in Oxfordshire owned by a wealthy woman and 
managed with great regard for aesthetic values. The woodlands are 
327 acres in extent, of which 85 acres are plantations of less than 30 
years. The old woodlands are as essed under schedule B and the 
young plantations (63 acres) under schedule D. There is an overlap 
of about 16 acres which are taxed under schedule B and schedule D, 
an anomaly to be corrected in the next reassessment. 
