FOREST TAXATION IN THE UNITED STATES 455 
per hectare ($24 per note) This method of valuation would be likely 
to give high results, because during the 6-year period taken as a 
sample the best cutting areas were operated. In the opinion of the 
owner the sale value of the land without the standards would not be 
over 1,000 francs per hectare ($16 per acre). The value of the stand- 
ards cannot be determined directly on the basis of annual cut as the 
growing stock on this forest is being built up, and therefore the large 
trees are not being cut except to remove defective specimens. The 
existing stock of standards is estimated at 2,250 francs per hectare 
($35.70 per acre) making a total value for the forest of 3,750 francs 
per hectare ($59.50 per acre). Table 129 shows the land tax Gmpdét 
foncier), together with the local taxes (centimes additionnels and taxe 
vicinale), which were paid for a 6-year period. The 44 hectares 
recently planted to pine are allowed an exemption of three-fourths of 
the land tax, which makes the total taxes about 300 francs less than 
they would otherwise be. 
TaBLE 129.—Land taxes on property no. 1, 1925-30 ! 
Francs per |} Dollars per 
Year hectare acre 
UF a Ne SP ye So Ns 8. 87 0. 141 
IGG ge AN A 8 A PS pe RIS DS a Le ee Ae La ee a 9. 35 148 
TS Ss SS SOS SESE Se ees Sa Sm eral eee ea NA ep Maas Celene sets os pa ery 14. 84 235 
TS ee SE Dee OSE SOROS SO SOE SS a SECS EES 16. 48 261 
1:9 20 ee ese i i pa MEA RU UNA ee I RR a Ns eae 16. 59 263 
TS RTO) A ese ey a ot ea Re ae SE SLU Cele 16. 88 268 
ETS Greg Re a ree Sa a Td Su 83. 01 1. 316 
PAGS 2 Cee ce a eC a a en re ec a le 13. 84 219 
1 Source of data: Report furnished by owner. 
The average land tax on this property thus amounts to 0.37 percent 
of the estimated value of the forest if the larger figure of 3,750 francs 
per hectare is accepted, or 0.43 percent if the more conservative 
figure of 3,250 francs per hectare is used, the latter being based on a 
valuation of 1 ,000 francs per hectare for the coppice. 
The reader should bear in mind that the income from this forest 
is also taxed under the general income tax, the rates of which are 
progressive. ‘The rates to which the owner of this forest was subject 
in the years in question are not known. Also, in picturing the total 
tax burden, consideration must be given to inheritance taxes, which 
take a heavy toll at irregular intervals. 
PROPERTY NO. 2 
Property no. 2 consists of a forest of 2,600 hectares (6,400 acres). 
Of the total area, 2,400 hectares are in coppice under standards man- 
aged on a rotation of 30 years, so that there is normally available 
about 80 hectares (200 acres) for annual cutting. The other 200 
hectares are waste land and young stands recently reforested. The 
timber cut each year consists both of the coppice and of the suitable 
trees among the standards, which are the larger trees reserved in one 
or more previous cuttings. The annual income from the sale of wood 
