Jasper County Democrat, Volume 21, Number 100, Rensselaer, Jasper County, 15 March 1919 — IMPORTANT PROVISIONS IN “TAX REFORM” BILL [ARTICLE]

IMPORTANT PROVISIONS IN “TAX REFORM” BILL

Here are some of the important provisions carried in the state tax reform bill as it went to the governor for his signature: Raises limit of mortgage exemption from S7OO to SI,OOO. Requires assessment of all property for taxation at 100' -per cent of its value. Gives state /board of tax commissioners .power to revalue real estate either by taxing units or in individual cases at any time and gives the board extensive power in the equalization of taxes either by taxing units or in individual cases empowering the commission to act at any time on its own initiative. Gives state board of tax commissioners power to remove local assessing officials who do not do their duty. Requires approval of state tax commissioners before bond isjue may be voted but reserves to citizens the right to undo veto of board by means of referendum in cases in which the proposed bond issue is $50,-00-0 or more. Provides that the amount of revenue raised in any taxing unit shall not, without the approval of the state tax board, be greater in 1920 than It was in 1919 and not greater In 1921 than it was in 1920, except that in p.ny unit a maximum levy of $1.50 on the SIOO may be established without the approval of the board. Establishes new scale of salaried for township and county assessors and deputy assessors. Makes annual salary of state tax commissioners $4,500 ehch instead of $3,00'0- as at present.