Show SURPLUSES MAY ii ALLOW TAX CUT GUT When Whon the state tax commission meets meetA next week to consider fi finances Li- Li nances ances preparatory to fixing the 1035 tax levy for state and state school purposes it find available to offset against prop property taxes Because of oC this available money and and increased property valuations Jt It is hoped the record levy of 1 10 mills or 10 per 1000 1000 of assessed valuation of ot 1934 1 will wUl be reduced at t least fractionally State Stale Auditor Julius C. C Andersen And en informed the commission there wilbe will wil willbe be a surplus of about in the general fund to which will be added added add add- ed surpluses surplus s of in the state district school fund and in inthe inthe the motor vehicle control fund both bothof bothof bothof of which will lapse to the general fund In addition the general fund will receive in 1 filing fees paid with income taxes in income taxes tax and from the corporation corporation corpora corpora- tion franchise tax The district school fund levy will willbe willbe be offset by a surplus in sales zales tax receipts and returns from individual l income taxes corporation franchise ta taxes es and state land in interest interest in in- terest and rentals that wilt will bring the total amount to nearly The state levy will vili be fixed Autust August Au Au- August gust 1 |