OCR Text |
Show Homestead Tax Exemption Proposal Hit As Threatening Huge Tax Revenue Loss Homestead tax exemption In Utah would reduce tax revenues by about 11,000,000 annually and would bring an average loaa of 12 M par cant of tha total taxaa now balnf eol-lacttd eol-lacttd In tha countlaa (or school district, county and atata purpoaea. Thli waa ahowa Friday In "Study of tha Propoaad Homaataad Examptlon In Utah," praparad by tha governmental affairs eommlttaa of tha Utah atata Junior chamber of commarca. Baeedi on axamptlon of homaa valued up to 12000. the study also showed that about 70 per cent of the homea. If owner occupied, would be exempt from taxes. Tha study suggested possible revenue rev-enue sources to maka up tha amount lost by exemption. Impartial and prepared to "stimulate "stim-ulate intelligent discussion," the study Hated for and again reaaona on the exemption battlefront Among these are (a) for and lb) against: 1 e The average home owner should have greater security, (bl The ownera of other classea of property than homea deeire similar security, 1 (at The burden of taxaa on property la greater than property can afford, (bl There are figures which disprove this statement. I (a) The tax burden ea real and personal property doee not take Into account ability to pay. ib But those least able to pay taxee the people whose Incomea are tee) small to enable them to aava and acquire a home would not be benefited ben-efited by exemption, while wealthier wealth-ier home owners would. e a) Exemption of homesteads would cause a building boom. b It la not certain that any building build-ing would result from auch exemp- tlon. 5 (a) It would force economies In government and administration, lb) The history of exemptions is that more money haa been raised from substitute taxee than the amounts loot through exemption. (a) Home ownera take more interaat In civic movements, (b) Home ownera receive many governmental govern-mental services which enhancea the value of their property. T a Much of the preeent taxes goes for schools; renters' children receive these benefits, (bl Home ownership algnlfiee grsatsr ability to pay. I (a) It la aa valid to exempt homestead as to exempt veterans up to 13000. b Two wrongs do not make a right |