The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1917-08-31
THE new KENTUCKY
TAX LAWS -

There will be many changes In the
Kentucky rNz Laws. which 30 into
effect September LIST .aad<tAzpayers
should be deeply Interested.
Farmers viii Be benefited By the
lower State tai rata on Lands and
improvements from IS 70 10 cents
on each 800 valuation and on Live
Stock from IS to 10 cents for State
purposes. Bonds. Stocks, Mortgages
and Accounts will be exempt from To-
cal TAXATION: ~ win also Agricultural
Implements: and Products grown
within the year arc exempt from all
taxation. Money deposited in Bank
will be taxed at only 10 cents on
the 800. insteAd OF IS AZ heretofore.
This viii result In large saving TOT
taxpayers. who have been listing their
property at fair valuation.
Merchants viii have only State
taxes TO pay on their Notes and Ac'
counts at the rate OF 10 cents on
each 500 and 10 cents on Bank De
poslts. Other property. such Al, Real
Estate. Merchandise. ete. is subjcc,
TO State tar rate Of only 40 instead
OF Sc cents.
Manufacturers are exempted from
local taxes on their Machinery. Raw
Material and Product. Notes and Ac-
counts and viii 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 tho State tax n only 10 cents
on each 800 and the local taxes AZ
fixed in the localities where their
business 10 conducted.
Bonds. Stocks. Mortgages, Notes
and Accounts are taxable for State
purposes only at 20 cents on the
800 and exempt from local tAIRtion.
The State tax on Real Estate,
Household Goods. MERCHANDISE. vehi.
Giles and other property owned by
individually. has been reduced from
55 to 20 cents; reduction Of STA
per cent
| Additional Revenue TO Justify the
reduction and Increase tho State rev
enue is tq-come from bonds. Stocks
Notes and Accounts; Mineral and
Timber Rights and Royalties and by
equalization Of notorionsly under
valued assessments. and as each class
OF property, no matter By whom
owned. wilr be assempd and taxed
uniformly. the advantage % tarpayersI
generally ana the State n large will
be very great
The State needs moro revenue tol
meet tho present detpclt and the ifeA|
is to get more property 10 tax rathef|
than to impose more taxes on prop
erty now Paying moro than its share.
and Under the new and more eduitaSie
laws this can be accomplished.
The state Tax commisai6n n 20
ling aboutNthe work in the fight way
to subject every kind Of, proparty To-
its iair share Of taxation and corrsc,
the evils heretofore existing, whereby
many property owners paid more than
their jusS due iad others ESCAPED
entirely. IThe Commission ip endowed
with power 40 enforce the lpws and
bring, the delinquents to a sense q
theirA-espoHsIbdllty and eobllgmion %
the State. and every Taxpayer. AZ.
fsessor and Supervisor SHOULD aid ia
securing for the State The successfu|
operation Of the new laws. which aro
fair and 5ust to- nil
4 Where accurate returns are mal.
as Of September LIST, Che properiI
owners wilj. bsN immupeN sffom pad
omissions and delinSuents may fbo
proceeded. AGAINST fof ten years, back.
30 there is every inducement to com
ply wifi such Just. and equSble laws,
and as the principles involved ara
worked out there viii be further re.
auctions in the tax rates, and In time
the entire ;exempticnef land forsStaio
purposes, as in other StatHs wheI1
the same law are N. practice.
a