Licking Valley courier. [volume] (West Liberty, Ky.) 19??-current, 1917-08-16
THE new KEN TUCkY
49, TAX LAWS 80

There will be many changes in the
Kentucky Tax Laws, which go into
effect September LIST, and taxpayers
should be deeply interested.
Farmers will be benefited by the
lower State tax rate on Lands and
improvements from IS to 40 cents
on each 500 valuation and on Live
Stock from IS to 10 cents for State
purposes. Bonds, Stocks, Mortgages
and Accounts will be exempt from 10.
cal taxation; as will also Agricultural
Implements; and Products grown
within the year are exempt from all
taxation. Money deposited in Bank
will be taxed at only 10 cents ON
the 500, instead Of 55 as heretofore.
This will result in large saving to
taxpayers, who have been listing their
property at fair valuation.
Merchants will have only State
taxes to pay on their Notes and Ac-
counts at the rate Of 40 cents on
each 500 and 10 cents on Bank De-
posits. Other property, such as Real
Estate, Merchandise, etc., is subject
to State tax rate Of only 40 instead
of So cents.
Manufacturers are exempted from
local taxes on their Machinery, Raw
Material and Product, Notes and Ac-
counts and will be taxed for State
purposes only on such property at 40
cents on the 500 and 10 cents on
Bank Deposits. On all other prop
erty the State tax is only 40 cents
on each 500 and the local taxes as
fixed in the localities where their
business is conducted.
Bonds, Stocks, Mortgages, Notes
and Accounts are taxable for State
purposes only at 40 cents on the
800 and exempt from local taxation
The State tax on Real Estate
Household Goods, Merchandise, Vehi
cles and other property owned BY
individuals has been reduced from
IS to 40 cents; reduction Of 37h
per cent.
Additional Revenue to Justify thu
reduction and increase the State rev
enue is to come from Bonds, Stocks
Notes and Accounts; Mineral ant
Timber Rights and Royalties and b.
: equalization Of VIGOROUSLY under
/ valued assessments, and as each elias
Of property, no matter by whom
owned, will be assessed AMI take
uniformly, the advantage to taxpayer
generally and the State at large vii
be very great.
: The State needs more revenue I
2 meet the present deficit, and the ide
is to get more property to tax rathe
than to impose more taxes on prof.
erty now paying more than its shar,
y and under the new and more equitabl
/. laws this can be accomplished.
\ The State Tax Commission is &,
: ing about the work in the right wa
to subject every kind OF property I
its fair share Of taxation and corret
the evils heretofore existing whereof
many property owners paid more tina
their Just due and others escape
entirely. The Commission is endowe
u with power to enforce the laws an
v bring the dellnquents to a sense
" their responsibility and obligation {
the State, and every Taxpayer, A
. SCISSOR and Supervisor should aid
securing for the State the successf
operation Of the new laws, which al
S fair and just to all.
y Where accurate returns are mat
n as Of September list, the proper
owners will be immune from pa
omissions and delinquents may
proceeded against for ten years bac
y SO there is every inducement to col
J. ply with such Just and equable law
a and as the principles involved a
worked out there will be further I
,, auctions in the tax rates, and in tin
the entire exemption of land for Sta
. purposes, as in other States whe
2. the same laws are In practice