The citizen. [volume] (Berea, Ky.) 1899-1958, 1917-08-16
| THE new KENTUCKY
49, TAX LAWS -

There will be many changes In the
Kentucky Tar Laws, which 70 into
effect September LIST. and taxpayers
should be deeply interested.
Farmers will be benefited BY the
lower State tar rate on Lands and
improvements from IS to 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 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 800. instead OF IS 40 heretofore.
This will result In . large saving 10
taxpayers, who have been listing their
property at q fair valuation.
Merchants will have only State
taxes to pay on their Notes and 40
counts at the rate Of 20 cents on
each 500 and 10 cents on Bank De-
posits. Other property. such ~ Real
Estate. Merchandise. etc. is subject
TO State tax rate Of only 10 instead
OF Sc 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 20
cents on the 800 and 10 cen on
Bank Deposits On all other Prop
erty the State tar is only 10 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
500 and exempt from local TAXATION.
The State tar on Real Estate.
Household Goods. Merchandise. vehi
Giles and other property owned by
individuals has been reduced from
IS to 40 cents: q reduction OF 37h
per cent
Additional Revenue to Justify the
reduction and increase the State rev
enue is TO come from Bonds. Stocks.
Notes and Accounts; Mineral and
Timber Rights and Royalties and by
equalization OF VIGOROUSLY under.
valued assessments. and as each class
OF property. no matter by whom
owned. will be assessed and taxed
uniformly. the advantage to taxpayers
generally and the State at large will
be very great
The State needs more revenue 70
meet the present dencit. and the idea
is to get more property to tar rather
than to impose more taxes on prop
erty now paying more than its share.
and under the new and more equitable
laws this can be accomplished.
The State Tar Commission is 60
ing about the work In the right way
TO subject every kind OF property TO
TIC VI AoAaAiOh huu toTfttt
the evils heretofore existing whereby
many property owners paid more than
their Just due and others escaped
entirely. The Commission 10 endowed
with power to enforce the laws and
bring the delinquents TO a sense OF
their responsibility and obligation 10
the State. and every Taxpayer. As.
SCISSOR and Supervisor should aid In
securing for the State the successful
operation OF the new laws. which are
fair and Just to all.
Where accurate returns are made
as OF September LIST the property
owners will be immune from past
omissions and delinquents may be
proceeded against for ten years back,
30 there is every inducement to com.
ply with such Just and equable laws.
and as the principles involved are
worked out there will be further re-
auctions in the tar rates. and In time
the entire exemption Of land for State
purposes. as in other States where
the same laws are In practice.