The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1922-11-03

One important provision is fora tax
commission that will take over the
work of the ex-officio equalization
board in addition to its other duties.
1t is to have power to supervise the
collection of all taxes collected by the
state; to exercise such power of or
iginal assessment as may be provid-
ed by law; to supervise the assess
ment of all property subject to tax
alton, and have such other duties as
may be prescribed by law.
The general assembly is given au-
thority to classify, for purposes of
I taxation, notes, bonds, evidences of
Indebtedness and other similar pro-
perty,and money on deposit; and pro-
vide different rates and forms of
taxation for each class of such pro-
perty. The intention of this provision
is to bring intangible securities out
of hiding and get them to pay taxes
which they are now evading, espeec-
tally in the large cities. A minority
report objects to this provision and
urges the retention of the present
section which assesses all property
according to its value"
A new section authorizes the gen.
eral assembly to make provision for
reforestization of denuded timber
lands in the state by exempting from
taxation for a certain period, lands
that have been planted with trees;
providing for the state to carry the
local taxes on them, and for the state
to be reimbursed for the taxes when
the timber is marketed.
The committee report proposes to
reduce the maximum general state
levy for taxes to ten cents on the one
hundred dollars valuation, the limit
alton in the old code being fifteen
cents.
Counties, cities and towns and
school districts are to be allowed to
levy a tax for public libary purposes
not exceeding twenty cents on the
hundred dollars valuation, whenever
authorized by majority vote of the
qualified electors, in the manner pro-
vided by law.
1t is recommended that regular
corporation taxes and fees be impos-
ed on all business trusts" or "com-
mon law trusts"
The exemption from taxation of
municipal and state bonds is also
recommended.
An important recommendation of
thecommittee is the authorization to
cities of the state to establish revolv-
ing funds to finance street and other
public improvements. This contem-
plates ga bond issue of one per cent
on the taxable property, which must
be voted by two-thirds of the voters
at a regular or special election. All
such bonds are to be repaid in twenty
years and the money obtained from
them is To be used in the payment of
public improvements, aud the cities
are to assess the property benefited in
regular annual installments to re-
plemish the fund created. Under pres
ent conditions public improvements
often cost more because the contract
or has 10 collect from the property
and wait a long time for his money
or accept discount from the banks.
The new provision it is believed will
result in lower bids for improvement
work and the city and property owner
wIll be alike benefited.
CA. Mcclure of the Committee on
Education went to St.Louis Friday
to speak before a division ofthe
Parent Teachers Association at the
Duval school. He will explain the pro-
vision for a state board of education
which the St.Louis school board and
Others in that city have construed as
being antagonistic to the city. The
action of the committee, it has been
pointed out, is not unfriendly in any
way to St.Louls but it has on the con.
trary expressed the desire to be