Download or read book Taxation as Affecting Municipalities written by James Lindsey Heard and published by Forgotten Books. This book was released on 2016-09-04 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Taxation as Affecting Municipalities: An Address Delivered Before the Virginia League of Municipalities; November 10, 1914 The principle of segregation is not new. As between the Federal and State governments it has long been in vogue. For many years the Federal government has derived a considerable part of her reve nues by taxing wines, liquors and tobacco, and has left unto the States and their sub-divisions the sole right to tax lands and most' other tangible property, real and personal. The Federal govern ment has long exercised the exclusive right to impose customs duties, and to use the revenue derived therefrom for her own purposes. For a long time she left to the States the taxing of incomes, but has recently, in a statute of far-reaching consequences, entered that field along with the several States. A number of the States of the Union have adopted the segregation plan of taxation, in various forms, as between themselves and their cities and counties. The underlying principle is not entirely new as between the State of Virginia and her cities and counties. For a number of years the State has appro priated to itself all franchise taxes, all charter fees, etc. The taxes on most other kinds of property, she has hitherto divided between herself and the respective local subdivision in which it was taxable. On real estate, for example, the State has taken, out of the aggre gate tax paid by the owner, thirty-five cents on each one hundred dollars of assessed valuation, leaving the rest of the taxes on that particular property to the local community. The legislature of 1914, directly pursuant to the above - mentioned constitutional provision, enacted that all monev on deposit, or in the possession or under the control of the owner was thereby segregated and made subject to taxation bv the State of Virginia only, and should not be liable to taxation by any of the cities, towns or counties, school districts and other local sub-divisions of the State; the tax of 20c to be applied equally to the support of government and of the public schools. There is great likelihood that the principle of segregation, whether adopted by the special session or not, will in course of time be con siderably extended. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.