The Classification Of Property For Taxation PDF Download

Excerpt from Shall We Classify Property for Taxation The State of Ohio, from the adoption of its first Constitution has relied on the General Property Tax for raising the great bulk of state and local revenue until about four years ago when it practically surrendered this as a means of securing state revenue, excepting the 3/100 of 1% or 3c on a $100 assessment for highway purposes. The state now relies mainly upon liquor assessments and corporation excise and franchise taxes for its revenues, while local jurisdictions rely almost entirely on the general property tax, excepting in so-called wet counties, embracing for the most part our large cities, where 70% of the liquor assessments help to defray local expenses. This general - or so-called "uniform" - property tax is based on the theory that every kind of property regardless of character or condition, shall be taxed in proportion to value and by uniform method or rate. This theory presupposes that all property can bear identical burdens and also that all kinds of property are equally easy for the assessor to find and correctly value. That this is impossible, even with the very best and most efficient administration in the United States in Cuyahoga County is evident as shown by the Auditor's "Untaxed Wealth of Cleveland," recently published. (Sent on receipt of 3c postage). Of the necessity for a reasonable discrimination in the rates of taxation, and therefore for the classification of such property, Prof. Bullock of Harvard University, speaks in the following language: "Diversification of rates of taxation agrees with the ordinary business principle of adjusting charges and prices to what the traffic will bear. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.