| Show COMMITTEE OF 0 SEEKS FULL OR TAX EXEMPTION plan would not apply to cities but to state and school levies A law providing the full 2000 exemption from taxation for owner occupied homes and for personal property will be approved for passage by the 1937 state legislature by the committee of nine on the investigation of state government with certain modifications it was announced this week realizing the lack of uniform accounting in the state in cities and towns explained chairman george M miller of the committee of nine and the complexity of the debt structure assumed by local taxing units the commit committee tea voted to exclude from the exemption the levies made by cities and towns in other words the 2000 exemption would apply only to levies for the state general fund the state district school fund local school districts and counties only these funds would be affected for the purpose of raising revenue for the use of city and town governments the assessed valuation would not be affected at au all by the exemption this will circumvent much of the difficulty and much of the opposition arising from a plan to a uniform exemption senator miller estimates that the loss of revenues resulting from the proposed plan ab of homestead exemption would amount to 1 of which would be lost by the state district and local school funds by the counties by the general fund but these funds it is planned so as not to cripple the service of the state counties and schools will be reimbursed by funds accruing from various sources 1 from the state liquor control act fund derived from profits 1 2 A tax on mines calculated to contribute to the bursal fund the net proceeds theory of mine taxation will not be disturbed but from three times the net proceeds for the value of the ore in m the ground the multiple will be reduced to one on this basis of one times the net proceeds local taxing units will be allowed to levy their taxes in addition an occupational tax or license will be levied at the rate of 15 per cent of the gross ma market arket value of the recoverable metal or 5 per cent of the net proceeds of the annual production whichever greater over a long period of time mr miller holds this change in mine ta taxation will not result in higher mine taxes it will wi 11 bring a more uniform tax ta rev revenue denue to the state 3 A tax on tobacco in addition to cigarettes which will raise from to annually 4 A tax of five cents per 1000 cubic feet on natural ga gas 9 as proposed by senator miller in the last legislature which would raise annually 5 A bank tax either on the inome income c from ta tax x exempt securities now excluded from taxation or a tb tax x on the deposits of banks and building and loan companies 6 A tax on iron ore in the ground and similar mineral deposits not paying an occupational tax tac Aj members embers of the committee said senator miller hold that the va vote te of the people in passing the homestead exemption arnen amendment dment by a big vote giving the legislature the power to effect this change was a mandate from the people we consequently are submitting a carefully worked out plan for putting the amendment in effect |
