Evening star., 1925-01-24
REALTORS TO SEEK
TAX ADJUSTMENT.
Nationwide Effort to Be
Made Under Plans Formu-
lated at Convention.

A comprehensive program OF tax
adjus tment, Federal, State and local.
looking toward elimination of the pres
ent large overlapping Of State taxes
with Federal taxes and of State taxes
with local taxes, is put forward by the
National Association of Real Estate
Boards in action taken at its annual
meeting, just closed at Dallas, Tex.
The association voted the adoption
of a report covering such a plan Of
tax revision presented by c. c. Heat
of Louisville, chairman of its COM
mittee on taxation. The report, which
will be sent out to its 495 member
boards TO be used in formulating pro-
grams of tax adjustment for their
own cities and States, has been based
on study of the reports of tax COM
missions In 36 States and on extensive
correspondence with tax officials and
assessing officers.
In connection with the adoption or
the committees report the association
specifically reafirmed its stand for
the elimination of the issuance of tax
exempt securities.
Program of Adjustment.
The program of tax adjustment in
cludes in addition the following rec
mmendations:
l. That taxation on capital gains
be eliminated from the income tax
law.
2. That high surtax rates be grad
ually reduced and eventually elimi-
mated.
8. That it is folly further to en-
large the lists of property exempt
from taxation; that all privately
owned property should be put on the
tax list.
4. That a full 100 per cent valua-
tion be adopted for assessment pur-
poses as the only honest and straight
forward standard.
5. That real estate be relieved al
together of State taxation. as has
been done in Ohio, Pennsylvania and
North Carolina, and that II bear the
principal burden of city and county
Taxation. That the tangible personal
i ity and the tangible property Of util-
sity corporations, and license or occu-
pational taxes, or business income
taxes share this burden in compen-
sation for the direct benefit received
from the local governments. That the
State government be supported from
franchises. corporation, excise, min
seral production. gasoline and inheri-
Atance taxes and other similar sources
land from a poll tax which should be
Substantial and not nominal. In some
i by personal income taxes or by low
tax on intangibles where a classifica-
2tion is permitted.
Inheritance Tax Plan.
g. That the Federal Government
@relinquish the taxation of estates and
Einherftances to the States and that
& the States levy a fat rate on inheri-
ztances, with reasonable exemptions
varying in proportion to the degree
4 of kinship.
Z. That the sources of income as
Between the Federal, the State and
ecal governments be generally seq
H'egated in the interest of simplihca-
ion, and that in each instance the
taxes levied should be such as have
particular and definite relation TO the
benefits received from the division of
&he government levying the tax.
"If the present wild and disordered
#ystem of multiple taxation of es-
bates by all the States and the Fed
Aral Government is persevered in"
he report states, sit will lead to the
practical connscation of the property
<bf decedents.
E TT has been pointed out and it