Show TAX PAYMENTS PAYMENTS' BRING PROFITS IF MADE EARLY DiscO Discounts f S Allowed wed by L Law Y Vary t to Month i I Mr Taxpayer yer ci do you wa want t to form fohn forma a 1934 partnership with taxing of fi guaranteeing dividends dividends' of 1 to 5 per er cent between tween now and Septem ber er 30 The guarantee Is bona fide with backing jacking of U Utah ah statutes and p paid jd dividends to taxpayers t durIng a month four period last year There are are ver very few formalities about bout collecting th these e benefits Just Ut pay your taxes early and do not wait I until after September In January you'll r receive a 5 per percent er t J cent discount in Feb February ary 4 45 per p cent t discount March 4 p per r cent April 35 5 per cent May 3 per cent June 25 p per r cent ent July 2 per cent August Augus 15 5 per cent and S September pt 1 per cent Brought Prepayment The law wh which ch Vent went t into effect elect June 26 1933 resulted in prepayment of ot in taxes last year according according ac ac- cording to County Tr Treasurer David K Moffat Taxpayers' Taxpayers cut cul on the profits pr because there ware profits to ta taxing units in the form of smaller loans and ess interest was In other words that was the total of discounts allowed property owners in June Jun July August and September last year for or payment of taxes from six and a ahalt ahalt halt hall to two and a a. a half months early eagly Proof that taxing officials are assuming assuming as as- suming property owners will take advantage advantage advantage ad ad- vantage of the offer lies in the fact that hat City Auditor Samuel F. F Nicholls cut and County Auditor C. C Roscoe Vigus cut from their setups for debt service ervice this year Li List Lid Interest In other words word each figures he will have to pay that much less inte Interest t tin in 1934 on borrowed money due to prepayment of taxes Payments m may y be made any time but aut pr preferably after J January nuary 10 10 at atthe atthe atthe the office of the county treasurer in amounts not less than 10 lO Mr Moffat Mo Mb- fat said The treasurer will open his office between en January 5 and 10 1 for r payment of delinquent 1933 taxes plus 2 per cent penalty but no interest in in- I terest charges The difference between between- a governmental governmental governmental govern govern- mental subdivision heavily in debt and one not so greatly obligated is is pictured to some extent say officials in the difference between interest rates Salt Lake City and county will have hv to pay pa- paon on borrowed money in ln 1934 The city recently marketed 1000 tax anticipation tion bonds on on h hit it will pay 5 per cent Int interest rest An issue issue issue is is- is- is sue of county tax anticipation anticipation tion bonds has been sold at slightly more than 4 per cent Bonded debts of the cit city totaled at the end of 1933 while the county had outstanding only 1 In general obligation bonds Main 1 Consideration While other things don contribute tribute It is Is' admitted by city and county finance officers the difference in bonded debts of the two government subdivisions subdivisions visions is the main factor considered consider d db b by brokers bidding on tax anticipation tion securities Wider taxing powers gran granted d counties cows coun ties and the state under Utah laws and recently enacted referendum law requiring municipalities to advertise for 30 days notice of intention to market market market mar mar- mar mar- ket securities also affect the interest t rate municipalities are forced t to p pay y School boards counties and nd the state are exempt under the new law That the situation is not much di dif different di- di ferent t in Utah than in neighbor neighboring Jg states was indicated by City Treasurer Treasurer Treasurer Treas Treas- Milton l E. E Lipman He called attention attention attention at at- to the fact that California recently recently re re- re issued in bonds bearing bearing bearing bear bear- ing 4 2 1 per cent interest Simultaneously Simultaneously Simultaneously San Francisco issued worth of securities to carry carryon on it itC its C W A projects and was compelled to pay 6 per cent interest At the beginning of or 1933 the city's bonded debt was During g the year comm commissioners matured of the debt and plan to mature about in 1934 About Abc 1600 worth of general obligation bonds of ot the city will have to be b refunded refund in 1934 The entire block of or outstanding count county bonds Donds was issued in 1919 for road building purposes and slated to be retired at the rate of per year However due to lack of finances commissioners have refunded refund refund- ed of 01 the bonds during the past two years instead of retiring them The county's 1934 loan bail will draw 3 2 1 per cent interest It sold however however how bow ever at less than par which plus the handling charge will bring the net rate slightly above 4 per cent The city's 1934 bonds bear 4 percent per percent cent They were marketed at per 1000 bringing the net interest rate to 5 per cent |