The Mena weekly star., 1918-07-25
PROPOSES ID TAX
 ON ACTUAL VALUE
Constitutional Convention, After Eight Days of Oratory, Adopts Article No Income Tax Until
 After War.


 days of debate, the general article or taxation was adopted yesterday after noon by the constitutional convention. It was in the nature of compromise between the factions that are stand ing for equality and uniformity" and classification" It followed the greatest flow of oratory ever heard in a deliberate body in the state, in which the subject of taxation was an- alyzed and dissected from every cen ceivable angle.
 As finally adopted, the article is as follows:
 Sec. A. Except as herein provided, all tangible property in this state shall be taxed at it's actual value, that value to be ascertained and prescribed by law; and taxes thereon shall be imposed under general laws and for public purposes only, and shall be equal and uniform within the territor- ial limits of the authority levying the tax. No one species of tangible prop erty if equal value, and subject to the same tax. Taxies upon monies, credits, stocks, bonds, franchises, licen- ses, inheritances, incomes, privileges and other intangible property, col leeted as prescribed by law, but the tax rate upon intangible property shall not exceed the tax rate upon tangible property. Provided, no law providing for the taxing of incomes shall be effective until the expira- tion of three years after the termina- tion of the present war with Ger many.
 "fhe following property shall be exempt from taxation: Public prop erty used exclusively for public pur- poses; churches and parsonages used as such; cemeteries used exclusively as such; school buildings, apparatus equipment, income, materials grounds and permanent endowment funds, not invested in real estate used exclusively for the maintenance and use of libraries and institution of education and charity, and not fo private profit of any person or cor poration."
 It seems probable that this mucl of the article will stand as the pro pon nts of the different views hav accepted it as a compromise measure i It does not include, however, pro vision for graduated land tax, fo which a provision will be submitte, by the special committee to whom the subject was referred. The pro posal agreed upon follows
 The law-making power of th' state may. in addition to the regulal tax imposed thereon, provide for |; i graduated excess tax on land value alone, exclusive of improvements where the aggregate value of sucl i lands, exclusive of improvements owned by person, firm, association joint stock company or corporation exceeds the sum of $10,000 No sucl tax shall exceed in any one year tn | rate of five per centum of the valu ' of said lands, exclusive of improve ments, nor shall it ever be levie' against any homestead, regardless Q value: provided, that no tax shall b collected under this provision within five years from and after the adop tion of this constitution
 The following proposal by Delegat Nelson of Mississippi, was reiecte by vote of 65 to.26:
 '.The failure of any person. firm corporation orsassociation to properl list his, its or their property fo taxation according to the provision of this constitution, shall forefit t the state the value of such propert which is not listed provided if sai property be any kind of indebtedness failure to properly list the same fo taxation shall forfeit the owner right to collect the said indebtedness. ] A proposition by Delegate c. l .Bloodworth to exempt from all taxa tion the property of a person who's property does not exceed in the valu the sum of $50 was rejected. He al gued that such provision would DOT ularize the constitution, but in reply it was stated that the tax would onl amount to few cents anyway, an that no one would be benefited.