The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1929-08-31
new LEVY LOWEST
ON RECORD Since
! 10 Mills IN 20
Rate This Year Three. Tenths Of
Mill Less Than That
OF a Year Ago
GENERAL FUND RATE w
Returns on Cigaret Tax More
Than Doubled as Compared
With Last Year
GENERAL FUND RATE LOWER

North Dakota's state tax rate for
1929 will be SIS mills and will raise
8 .155.576 on a valuation OF $685.
GOO. 600. the state board OF equalization
decided Friday afternoon.
The tax rate is the lowest assessed
by the state since 1920. when the rate
was 10 mills. In 1920. however. the
rate was applied on a valuation OF
81 sol $50. $50.
The rate for 1929 is three-tcnths OF
q mill less than the levy for 1923,
which was 3.46 mills.
A reduction Of .2l mill was made IN
the levy for the state general fund,
the drop being from PSI TO 2.60. In
creased revenues from sources other
than taxation OF property. rather than
decreased expenditures, is given as the
cause. Collections from the state in
come and inheritance taxes are larger.
the state cigaret tax Is producing
o revenue, and interest on state
funds deposited in the Bank OF North
Dakota more than doubled IN ON
parison with last year.
nVxNC OCluGsS AUWVuNu
The tax levy to pay the deficit Gre
ated by the state homebuildcrs' assoc
CATION was dropped from .05 to OF.
This will raise SO .s72. which Is more
than enough to balance the books of
that venture.
The levy for the Bank Of North Da-
kota bond payment fund was cut from
a to 81. A million dollars In out
standing bonds were retired July l,
and cut the capital obligations Of the
bank in halt. No levy was mad: for
bank bond interest. c. r. Green. hank
manager. having informed Governor
. George +. Shafer that 1t would not Be
necessary this year. since the bank Is
u position to pay the interest on the
bonds still outstanding.
Bond Fund Levy 81
~ The total Of levies for the various
state bond funds is 81 mill. esti-
mated to raise $3.50 .244. Last year 4
levy Of 80 mill produced tS94,9lS.
The total to be raised by state taxes
levied this year is $275.l35 less thar
was collected from the 1928 levy.
Nothing was levied to pay Interest
on North Dakota real estate bonds, NJ
recommendation for 4 levy having
been made by the state industrial
commission.
The levy ordered by the Legislature
TO build up q fund for a new capito
building will not apply until 1890. Il
that year one twentieth Of a mill vii
be levied, and one-tcnth of a mill viii
be levied annually thereafter until tn.
law Is changed.
State Levy Decreasing
The downward trend Of the rate o
the state levy. continued by action o
the board today. began In 1925. Thu
rate for each year since 1919, In order
follows: al mills. 10 mills, 3.38 mills
3.64 mills. 3.6s mills. ass mills. AZ
mills, 3.85 mills. 3.95 mills, 3.46 mills
and ais mills for this year.
The taxable valuation was increased
36.2e3!ooo despite . decrease Of 81,
million In the valuation of farm land
Heavy increases in the valuations o
public utility property and increase
In the value OF city real estate causcs
the total to mount above the valua
tion Of 4oo2 ,3iS,0o0 established las
year.
Assessed valuations from 1920 Il
1871. follow In order: $l,5ol $3.50 ,35e