Topic A : A Different Spin on the World Around Us : A Tally of Royal Riches

So, Queen Elizabeth II is finally going to join that most non-exclusive of clubs: The Order of the British Taxpayer. But what amount in dues can we expect to see her pony up?

Estimates of her wealth range from $75 million to $10 billion. The confusion over the size of her fortune results from trying to separate what belongs to the queen from what belongs to the nation. (And it doesn’t help that she has kept her finances top secret.)

All anyone seems to know is that when it comes to the facts and figures of the royal finances, few are reliable.

Still, let’s have a go at it, shall we?

* What’s Hers: Sandringham, a 274-room mansion thought to be worth about $100 million, and Balmoral Castle in Scotland, valued at an estimated $75 million. Plus there’s that priceless collection of hats and handbags.

* What’s Not Hers: The six major royal residences, including Buckingham Palace (“the office” in royal parlance) and Windsor Castle, are the property of “the crown” but considered publicly owned. Meanwhile, the legendary crown jewels belong not to the crown but to the nation, although most people in the nation have to pay to see them--and usually stand in a long queue as well.

* What’s Not Hers II: That battleship of a pleasure boat, the royal yacht Britannia, belongs to the British Navy, and the queen’s jet belongs to the Royal Air Force.

* Diamonds and Pearls: The queen’s personal jewelry collection, said to rival the nation’s, is believed to be worth more than $52 million.

* Got a Whole Lotta Land: The queen holds in trust the acreage of the Duchy of Lancaster, including properties in four shires worth an estimated $82 million.

* Farmer Liz: The queen is the holder of the Crown Estate, which includes 250,000 acres of farmland and London real estate.

* Gimme (Tax) Shelter: A big question mark hangs over the queen’s investment portfolio. In what does she invest and how much is her portfolio worth? This will be a key area for tax officials to investigate.

* Painting by the Numbers: One particularly puzzling area concerns ownership of the queen’s enormous collection of art treasures, which includes 7,000 paintings, possibly worth billions if they’re ever sold.

* Inherit the Windfall: The queen did not have to pay inheritance taxes on these artworks, handed down by her ancestors, and no mention has been made of the Royals having to pay inheritance taxes on anything in the future. (If she doesn’t wind up paying the top rate of 40%, expect grumbling among her subjects.)

* Bottom Line: Don’t hold your breath waiting for a peek inside the royal purse. The prime minister’s office has already announced that her tax affairs, like those of other taxpayers, will remain confidential.