Show TAX LAWS GENERAL PROPERTY TAX D by a 4 student of tho the high abool clas c tho general property tax ax needs much of our tit tt first it is essentially a cry lilt on ont as its it furIll siles about abou t fhe per cent of state and local revl mues and it lina has allany dlf eta winch can call and 1 be J is 1 sic prin ciple is tas alion according to tho tile amount of prop arty owned b a taxpayer or and anti in tory atia it is a tax on all real and personal property the alue nud and amount of if taxably property la is determined by b y nn all assessor elected by kv thu people of his county ho ile is aided in this by a requirement making each taxpayer er take an oath that he fie will furnish a true and anti correct list of all hia ilia taxable prop erta in practice this tax fails to meet the requirements of tho tile rule of 0 finality one of tho ilia most important t rules of taxation this rule deminds that indi in divia bials a hall bo be taxed according to their ability to pay whereas hie this tax takes property itself as a criterion to thorax paying ability paying no fact thai that not property but the income derive from property ie is tile best key t to 0 tho tile taxpaying tax paying power under this tax a man who lie seeks to beautify his comaj community unity by building at beautiful home ind tind who borrow a is money for the purpose ie is discouraged from doing so because the borne home is taboo taken 89 an index to liis his taxpaying ability lied and ha lie is taxed accordingly again in practice this tax docs does not conform to ilia rule of uniform ity a rule equally as important as the rule of equality the tile rule of uniformity means that all the tile taxable articles or kinds of proper ty of the same class shall be taxed at die elie same rato rate bul but the greatest inequalities prevail iu in tho the valuation of property in tho tile different divisions hence ono one township may beagan extra burden of taxes as compared com parLA with other town own ships and counties often bear unequal equa I 1 burdens of state Viza tion one ono instance of this assessment 16 is wh re a fornili manti citizen paid jnet just as giudi m uth hixia it on a 2500 2600 home in manti as he lie is nw paying on a home in the northern part patt of tile tato another case a piece of kanj ian wes bold sold for per acre and anti ind hal only been assesse as assessed for 11 per acre again this tax is not economic co a good tax can call bo collected easily and anti cheaply hile thie this tax ie to very difficult bifi cult to assess and coti consequently sequent expensive one of tho ilia main complaints ti this tux tax is occasioned occasion ul td by its failure to mach intangible prop erty aurb as blocke stocks bonds builds ulett jo wilry etc tho poor mans property is nearly all tati tangible gible and thus be lie bears iho ilia burden of taxation whilo most of tho the wealthy wealth y roans mania money is invested stad in intano blo property finally Finni fy tho ilia general properly property taxis tax is conducive to do moral izat tons binCO thO tax alra aro are corn couin jonly quiren t 0 their pora personal cual property under aith th tho the man mail with tho ilia high moral stand ards be taxed heavily whilo while the csc apo tho burden tho tile inheritance tax is a tax imposed upun properly property inherited from n deceased cased person ilie ube per cent of the tat varies from 5 to 25 2 pc oc cording to tho ilia nearness of tho the rel relation atio inheriting it it i ia s a just tax as it ie is not imposed on an ot of tho ilia industries and I 1 does not clitia their deployment I 1 the corporation tax is a tax levied on those industries that arc monopolistic distio in ill character 1 alio llio ito tax i iq just inasmuch aa as it a to soiro sotro extent tho the direct in tho ilia general property tax in lit regard to I 1 tangible its chief do feel feet is io in the fact filet that it does not discriminate iati cc thir trent corporations but levies tho ilia a into tax on oll all till of their nature or ilia amount of business carried on oil ly by them the tile poll tax is is distinctly a I 1 ind it tar the saino amount is levied on oil eich ellch person of ir I 1 ability to pay or to the tile linee on yea it ia is an all antiquated taxi tax and nhounh b it hns as it ie is neither economic nor nort |