EXPLANATION. An examination of the figures on p. 223 shows that the expenses of the town, including the amounts paid for State Tax, $7875.00, County Tax, $4418.93, Town Expenses,' $88,640.97, make a total of $100,934.90.

The town will receive $2 from each Poll Tax payer; $2×2644=$5288. This added to the amount received from the State Bank & Corporation Tax, $2390.49, makes a total of $7678.49, which may be deducted from the total amount to be raised. $100,934.90 less $7678.49 leaves $93,256.41, the total which is to be raised by taxation.

To find the rate of taxation we find what per cent $93,256.41, the amount to be raised by taxation, is of $7,173,570, the total valuation. We find it to be 1%%, or $1.30 on each $100, or $13 on each $1000.

326. Illustrative Example. In a tax record book was found a statement regarding the property and tax of Paul Thompson, whose tax bill is here shown:

Payment of the Tax is hereby demanded. Payable at the Collec-
tor's Office, City Hall. Poll Taxes are due and payable on demand
of Collector. If not paid before October 1st a summons will be
An error in the name of the person taxed does not defeat the
issued, for which a charge of twenty cents additional will be made.
Any failure to receive tax bill does not invalidate a tax, or pro-
Prompt payment will save costs and arrest.
ceedings for the collection of the same.
collection of the tax.
August 1, 1909.

A. T. JACOBS,

Collector of Taxes.

BRING THIS BILL AT PAYMENT

CITY of HAVERHILL
Page#Line //Residence 10 Front St., Ward 2

Paul Thompson

Your City, County and State Tax for 1908 is:

Office Hours from 8.30 A. M. to 12 M., and from 1.30 to 4 P.M.

Saturdays, 8.30 A. M. to 1 P. M.

The following is the statement of the value of Mr. Thompson's property and the amount of his tax at a rate of 1% :

To find Paul Thompson's total tax we multiply the total amount of property, $10,400, by the rate (per cent) of taxation, .01%. $10,400×.01 $135.20, the property tax, to which is added $2, his poll tax. + $2 = $137.20, total tax.

=

$135.20

A person who is a resident of a town or city pays a tax in that town or city on his personal property, and on all the real estate which he owns in that town or city, but upon any real estate belonging to him in another town or city he pays a tax in the town or city in which it is situated.

Taxes are usually computed on less than the full value of the property. The value that is taken as a basis for reckoning the taxation is called the assessed valuation, e.g. a house lot having a valuation of $4200 may be taxed for only $ 2800, or of its value.

Written Exercise

327. 1. W. A. Peters owns in the town of Westfield the following property, valued as follows: Personal property, $2400; real estate, $4700. The personal property is assessed for full value, the real estate for of its value. What is his total tax at the rate of $11.50 per thousand with $ 2 poll tax? ($11.50 per thousand is .1-15% %.)

10

2. Samuel Reed pays a tax of $57.80 on property at a rate of $17 on a thousand. For what was the property assessed?

W. & H. ARITH. IV.-15

3. The American Machine Co. owns a manufacturing establishment. The property is assessed for its value, and the total tax at the rate of $16 on a thousand is $1426.

the total value of their property?

What is

4. The taxable property of the town of L. is valued at $2,344,680. The amount to be raised by taxation is $25,791.48. What is the tax rate?

5. The tax raised in a city is $248,000. The rate is 14 mills on the dollar. What is the valuation?

6. What is the rate of taxation in a city when $52 is paid on a house and lot worth $4500, assessed for of its value? 7. In the town of F. there are 5151 poll tax payers. The poll tax is $2. The total valuation of the town is $ 3,412,500. The total amount to be raised by taxation is $44,427. What is the tax rate and what is the total tax of Mr. Patrick Garvey, who owns a homestead worth $5400 and a store worth $8000, if his property is assessed at its value? 8. At a tax rate of $20 on a thousand, what is the tax on property valued at $6500?

9. Mrs. Vance pays a property tax on property valued at $124,000. At the rate of 8 mills on the dollar, what is her total tax?

10. On property assessed for $11,000 the taxes are $156. What is the rate of taxation?

11. To raise a tax amounting to $4,500,000, on a valuation of $225,000,000, what must be the rate of taxation?

12. 59 A. of pasture land valued at $75 an acre is taxed for of its value at the rate of 61⁄2 mills. What is the amount of

the tax?

13. If a house valued at $8000 is taxed at the rate of 25 mills, for $180, what is the assessed valuation?

328. The expenses of the national government are not paid from a tax upon property, but are paid from:

(1) The Internal Revenue, a tax on the right to manufacture or sell liquors, tobacco, etc.

(2) Customs or Duties, which are taxes on goods imported from foreign countries.

Merchandise brought into this country may be:

(1) On the free list, that is, exempt from duty.

(2) Subject to an ad valorem duty, which is reckoned at a certain per cent on the cost of the goods in the country from which they are imported.

(3) Subject to a specific duty, which is a fixed charge according to number, quantity, weight, etc., without reference to the cost.

(4) Subject to both an ad valorem and a specific duty.

The duty is 67 on a ton of bituminous coal. Is this duty specific or ad valorem ?

Name the kind of duty in the following:

Silk bindings pay a duty of 50 %.

Brushes pay a duty of 40 %.

Pig iron pays a duty of $4 a ton.

Manufactured glass pays a duty of 45 %.
Iron ore pays a duty of 40 a ton.
Cologne pays a duty of 60 a pound and 45%.
Eggs pay a duty of 5 a dozen.

The customhouse is a building belonging to the United States, where all business connected with incoming and outgoing vessels and their cargoes is transacted with officers of the government.

A port of entry is a place where a customhouse has been established. It is usually a seaport, but may be any place on or near the boundary where merchandise is brought into the

country. The duties levied on imported merchandise are paid at the customhouse.

Any avoidance of payment of the duty on goods is called smuggling.

The rates of duty to be paid on the various kinds of merchandise imported are fixed by an Act of Congress, usually referred to as "The Tariff Act." To learn the rate of duty on the various kinds and qualities of merchandise, an importer is obliged to refer to the schedules contained in the last "Tariff Act."

NOTE 1. In estimating specific duties, certain allowances are made, as for weight of boxes, casks, etc., called tare; and for waste of liquors, called leakage. The weight of goods before allowances are made is the gross weight, and the weight after deducting allowances is the net weight.

NOTE 2. The value of imported goods appears from the invoice, which is a list of the goods with statement of the quantities and of the prices in the country from which they were imported.

Written Exercise

329. Illustrative Example. What is the duty on 10 casks of molasses containing 63 gal. each, at 3¢ a gallon, an allowance of 15 gal. being make for leakage?

1. How much is the duty at 21 per pound, on 15 boxes of raisins, 24 lb. to a box, tare 61 lb. to a box?

2. At 45% how much is the duty on 50 doz. watch crystals, invoiced at $1.80 per dozen?