Salt Lake Telegram | 1936-07-06 | Page 11 | 2 Mill Tax Cut Seen for Utah in Coming Year

2 MILL TAX TAX GUT CUT SEEN FOR UTAH IN COMING YEAR g Jj Fiscal Report Shows Shows Shows' State in In Healthy Condition Conditio A probable 2 miU redu reduction tion In the the taC tax tac levy for tor state and state school purposes for the coming year was waa regarded as 83 a virtual c certainty Monday Monday Mon Mon- day as the state commission report for the fiscal year ended June 30 showed Utah finances to be In the healthiest Wealthiest condition of recent years The report which show showed d total II special tax collections for fort forthe the e year Indicated a surplus surplus' of ot almost 1 1 in the sales tax alone with big increases in other special ta tax funds The TIle total of ot all special taxes for forthe forthe the year was as au compared com corn J pared to collected atthe at the end of the fiscal year 1935 and for tor the fiscal year which ended June 30 1934 Sales Levy Helps Help I The special tax increase this y year ar was 19 per cent over last year the I 9 report showed f Biggest increases were from the sales tax and Individual income and corporation franchise franch le tax taxes the f former former for for- r- r mer of which showed an 18 per cent increase over ll last t ye year r and nearly doubled that collected in the year f 1934 This years year's sales tax totaled 2 2 as compared with 2496 i 1 the preceding year and 1 1 for the year ended June 30 1934 The story behind the figures re reveals reveals reveals re- re that with th healthy surplus I in the state sales tax alone the first I of which is earmarked for relief purposes the reduction of 2 mills in the levy Jevy for state and state school purposes Js is not too tic Last year the levy was waa 95 95 mills or a 1000 of assessed property valuation Balanced After the first in sales taxes goes to relief roUet purposes any ariy excess may be credited to the state district school fund or may be ba used by the governor for tor budget balancing balancing balanc balanc- ing purposes or may be used to lower the tax levy for the district school fund depending on the financial conditions of those funds and the amount amounts required by each However the tate budget Is la already already al al already ready bala ed The district Ich school ol fund doesn't need the money since sirce p its quota of ot 25 per child has aready al already already al- al a- a ready been met Individual income and corporation corporation corporation corpora corpora- tion franchise taxes taxes' yielded 1006 f the thelast last fiscal year the report showed Broken down came from individual In incomes imes and J from corporation franchise Iran Iran- chise taxes The total figures collected last year for these taxes were This years year's figures nearly doubled last years year's because the thelast last legislature increased rates lowered exemptions and eliminated the property property property prop prop- erty tax offset An increase of 14 per cent was seen in the gasoline tax returns for lor forthe y the fiscal year just ended Figures res for tor 1936 1935 and 1934 were 2899 L 50 and 23 Reductions Credited As Asa a result of the increased collections collections from the individual income and corporation franchise franchis taxes the J amounts set aside to reduce the proper property y tax levy were more mor than doubled over those of last lut year From these two taxes Is credited to tl the district school fund y to reduce the tax levy for fr this pur pur- pose Also from these two taxes taxes' wa was allotted to r reduce duce the property tax levy for the general fund and was credited to the general fund There was a decrease in the motor vehicle registration fund caused by bythe bythe the 1935 legislatures legislature's reducing license plate fees tees to a flat fiat rate of ot 5 Heretofore the fees teu have ranged as high as 10 The amount collected col col- col- col this fiscal L cal year just JUIt end ended d was as compared to the prec preceding ding year Oth Other special tax re turns the f fund rid and amounts collected for lor the fiscal year ear ended June 30 1936 and the same date in 1935 follow tollow ti in hi that order Beer tax 1 43 a decrease because the new new- liquor control law lowered taxes tax and inheritance tax and insurance company tax 91 and oleomargarine oleo oleO- margarine 15 and 0