FOREST TAXATION IN THE UNITED STATES 473 
Down the side of these tables is the age of the stand by 5-year classes. 
Across the top there is first a division into three site classes, good, 
medium, and poor, each of which is further subdivided into the 
rotation periods, covering the usual range peculiar to each species 
and site class. Thus, for a stand of any of these species, one may 
read opposite its age ‘and under the proper site quality and length 
of rotation the ratio in percent of the value of that particular stand 
to the average assessment value of a similar sustained-yield forest. 
The ratio of the value of bare land to the value of a sustained-yield 
forest of the type to which it is presumably destined is also shown 
in these tables. 
The final step in appraising irregular forests is to sum up the 
values of each age class, thus determining the total assessment. 
Forests WirHout WoRKING PLANS 
In the previous discussion of appraisal methods, the availability 
of the information in regard to a forest ordinarily contained in a 
working plan has been assumed. However, 89 percent of all private 
forests, comprising 43 percent of the privately owned forest-land 
area, is in properties of less than 100 hectares, mostly farm wood 
lots (251, pp. 84-89). As a rule there are no working plans for such 
woodlands. If a forest materially in excess of 100 hectares (247 
acres) is without a working plan, it is contemplated that there will 
be an expert examination for the purpose of obtaining the necessary 
information. Itis not practicable to provide for such expert examina- 
tion for the small forests. These are therefore valued on certain 
general assumptions, which are reasonably accurate in a majority of 
cases. Ordinarily the species and age are not difficult to ascertain 
from the owner, even in the case of a small wood lot. The site 
quality class and density of stocking are less generally known, and 
in the absence of specific information on these subjects a middle 
site quality class and a density of 0.7 is assumed. Exceptional 
cases are likely to be known by local experts who can be consulted 
by the local finance offices. The calculations for these forests are 
ereatly simplified by tables which are prepared for the purpose by 
the valuation council for most of the State finance districts. Such 
tables for the 1931 valuation are attached to the circular of August 3, 
1931, issued by the minister of finance. They give directly the 
assessment value per hectare of forest of each species in the region 
according to age classes at 10-year intervals. There are values for 
each species and age class for the 2 or 3 different site quality classes 
recognized, but uniform rotations consistent with the usual prac- 
tice in each region, a density of 0.7, and normal wood prices are 
assumed. The wood prices are averages realized on the State 
forests for the period 1925-26 to 1929-30, less 15 percent. For 
business costs, the figures derived for normal forests with working 
plans are used. It is recognized that because of delivery in small 
quantities, inferior selling experience, lower quality and less skillful 
preparation of timber, the prices received by farmers and other 
small owners are cenerally lower than those realized by the State 
forest administration and large private owners. On the other hand, 
wood used on the farm has at least the value which the large owner 
could realize, and the cost of administering the small wood lots is 
less. Lacking trustworthy data for small forests, these differences 
