OCR Text |
Show MUNICIPAL INCOME Property Tax Declines as Revenue Source American cities were facing an unpleasant fact general property taxation as a source of revenue was proving inadequate to meet municipal needs. The International City Managers' association reported the finding after a survey of municipal-revenue sources. Data was gathered from census returns and from reporting mambers. In five years from 1942 to 1947, the proportion of municipal income obtained from property taxation compared with that from other sources dropped 8.4 per cent. Slightly more than half of municipal munici-pal revenues now come from property prop-erty taxes. In cities of over 25,000 population revenue has increased by 13.2 per cent, while the property tax increased by only 5.9 per cent. |