FOREST TAXATION IN THE UNITED STATES 449 
The estimate of the annual income from land for tax purposes is 
intended to reflect the rental value (valeur locative). This rental 
value includes only the income which the owner may derive from his 
land if he merely leases it. The income derived from the manual or 
directing work of the operator and from the investment of working 
capital represented by agricultural implements, cattle, working capi- 
tal necessary for current operations, and the like, is not taken into 
account in the assessment of the land tax but is subject to the tax 
on agricultural profits. Thus a landowner who merely leases his 
land is liable only for the land tax, and the tenant farmer is liable only 
for the tax on agricultural profits. The forest-land owner is, as a rule, 
both owner and operator, but in practice he is not subject to the tax 
on agricultural profits unless he has an income from resin or bark. 
A revision of assessments for land taxation is now under way, but 
the current taxes levied by the National Government are based on 
the last general revaluation authorized in 1907 and carried out in 
the years 1908-12. (Law of Dec. 31, 1907, art. 3.) In most of the 
communes the maps on which this revaluation was based go back to 
the early part of the nineteenth century, though in some communes 
the maps were brought up to date in 1850. These maps (plans cadas- 
tral) are supplemented by a list (état des sections) showing the names 
of owners of the parcels at the time the map was made with the rental 
value of each parcel, and by an index of owners (matrice cadastrale), 
which is kept up to date. 
The law of March 29, 1914, sanctioned the valuations of 1909-12 
and laid down the principle that these valuations would be kept up 
to date through a continual process of revision, taking the communes 
successively in such a manner that the lands in any one commune 
would be revalued every 20 years and the buildings every 10 years. 
This plan was not carried out because of the intervention of the 
World War. The change in the level of rental values because of the 
inflation of the franc following the war was so great that a revaluation 
could not be made equitably in this manner, for the taxpayers in the 
communes to be revalued last would have too great an advantage 
over those residing where the new values would have become effective 
many years earlier. A general revaluation to be effective throughout 
the country at the same date was called for by the new conditions 
and was authorized in 1924. It was found impracticable to make 
this revaluation in a satisfactory manner in time to meet the fiscal 
requirements, and therefore the old valuations were increased by 75 
percent, and the rate of the tax was raised to 18 percent. Effective 
beginning 1931 the increase in valuation was reduced to 50 percent 
and the rate of the tax reduced to 16 percent. While the current 
(1933) rate of 16 percent appears high in comparison with the rate 
of 4 percent which was in effect in 1914, it is evident that in view of 
the low base, the proportion of actual income taken by the land tax 
is likely to be low. Relative to the annual property tax in the 
United States, it is indeed very low, even including the local land 
taxes (centimes additionnels and taxe vicinale) levied by the Depart- 
ments and communes. 
It has been explained before that these local taxes are levied on an 
obsolete base known as the principal fictif. It is contemplated that 
they will be levied on the basis of the new revaluation now being 
made when that becomes effective. 
101285°—35——29 
