The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1924-10-02
OVER THIRD0F
n. .D.LEVY PAYS
" PROGRAM COST
State Board of Equalization,
in Making Levy, Shows
The Distribution
HAD MANY PROBLEMS
Possibility of Passage of Tax
Reduction Measure Brought
Before Board

Thirty-eight and one half percent
OF the 1924 state tax levy will go for
the purpose of paying interest on
industrial bond issues and the SOL
diers' bonus and GLIB percent will go
to paying the general expenses of
state government, according to fig
ures made public today by the state
tax department, announcing the 1924
tax levy.
The total state tax levy for the
year 1924 is $4,577 ,82s.OO as compared
to $4,O13,359.15 in 1923, $4,765,2s4.41
in 1922 and $4,66O,885.78 in 1921, the
records Of the board reveal.
Included in the state tax levy is
total of $7O4,2s1.O0 for the purpose
of meeting interest on bonds issued
foD the Bank of North Dakota, state
mill and elevator construction bonds,
state mill and elevator operating
bonds and the real estate bond pay
ment fund. No levy is made for the
purpose of meeting the principal of
bonds becoming due within the next
five years, which it had been expect
ed would have brought the total
amount levied for industrial bond in
terest and sinking fund to $1.O0O,O00.
Tax Reduction Possibility
The board in making the levy, it
is understood, was confronted with
the possibility of the proposed 25
pa,cent tax reduction measure being
enacted by voters on November 4,
and a greater margin Of borrowing
power to meet the exigencies of
running the state government next
summer was taken into consideration
in the levy. The question of legal
interpretations of the obligation Of
the state board of equalization in
levying taxes to meet the bond prin-
cipal payments at this time also en-
tered into the consideration.
The general fund levy for 1924 is
$2,8l7,125 as compared with general
fund levy in 1921 Of $3,14O,3Sl. SO, in
1922 of $2,93O, ,666.32 and in 1923 Of
$2,l56, ,49O.43. The mill rate for the
1924 tax is 4.55.
"The increase in the 1924 general
collections from special state taxes,
particularly the income tax, than was
anticipated when the levy was made
last year." says a statement of the
tax department. "Only Alb percent
Of the 1923 levy was collected up to
July / Of this year.
Two Payment Plan
"Under the law providing for pay
nent of real estate taxes in two
installments, only "a percent Of the
1923 tax levy will be delinquent be-
fore October Is, 1924.
"The 1924 levy to pay interest on
industrial bond issues is $3S,901 in
excess of the 1928 levy. Thirty
eight and half percent of the 1924
levy goes to pay interest on indus
trial bond issues and the soldiers
bonus and 61.5 percent to pay the
general expenses Of the state gov
ernment.
"The 1924 levy is given below in
detail. The increase in the tax rate
in mills compared with certain pre-
vious years is due to toastant de-
crease in the assessed valuation
since 1919 when the total assessed
valuation was $1,522,637,234 as COM
pared with the 1924 assessed valua-
ton of $1,0O6,116.0O."
The 1924 levy, in mills, follows:
General fund, $50; State bond inter-
est-bank bond payment fund .12
mills, $120,734; mill and elevator
bond interest fund, "a; $241 1,468;
milling bond payment fund, .06, $780,
367; real estate bond payment fund
.28 mills, $281,712. Total state board
levy, Legislative levies, $3.50 mills
Soldiers bonus fund, 100 mill
81, 1,0O6,116; Home Builders Associa'
tion deficit tax fund .O5, $5O,3O6.