133. Considering each of the following columns as a separate question, if the terms marked ◊ are given how may the term marked? be found; and why?

.

2.

Gross proceeds....

Rate of commission..

Commission

Net proceeds....

?

? ?

Storage

Drayage.

Freight...

:

16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

TAXES.

134. A TAX is a sum of money assessed upon the person or property of an individual to meet the expense of government, or for other public purposes.

135. A tax levied upon the person is called a POLL or CAPITATION TAX, and in most States is assessed upon all male citizens of 21 years of age, or more.

NOTE. This tax is levied without reference to property. "POLL” is sometimes used for the person on whom it is levied.

The term

136. A tax assessed on property is called a PROPERTY TAX. 137. The property on which taxes are levied is known as REAL PROPERTY and PERSONAL PROPERTY.

138.

REAL PROPERTY is that property which cannot be moved, as land, buildings, etc.

139. PERSONAL PROPERTY is movable property, as cash, merchandise, notes, etc.

NOTE. The expense of town, county, State, and city government is met by a direct tax on persons and their property; while the expense of the general government is met by duties on imported goods; internal revenue tax on tobacco, liquors, proprietary medicines, etc.; sale of public lands; fees of officers; tax on circulation, deposits, and capital of National Banks;

etc.

140. The officers chosen to assess the taxes are known as ASSESSORS. It is their duty to make a list of taxable polls and estimate the value of the property on which the property tax is to be raised.

141.

taxes.

A TAX COLLECTOR is a person chosen to collect the

142. A LICENSE FEE is a sum charged by town, county, State or general government for the privilege of conducting a certain line of business.

143. To Assess Taxes.

RULE. -Subtract the amount of poll tax and such other sums as are not to be raised on the property from the whole tax to be raised. Divide the remainder by the amount of taxable property, and the quotient is the tax per $1.

Multiply each man's property by the tax per $1, and to the product add his poll tax.

NOTE. If the collector's fee is not included in the sum to be raised, first divide the sum to be raised by 100% the rate % of collector's fee.

EXAMPLES.

1. A certain town votes to raise by taxation $8560. The town contains 500 polls, and the poll tax is $2.50. The taxable property consists of real estate, $628345.42, and personal property, $346321.25. What is the tax per $1, and what is the tax of James Worth, whose real estate is valued at $8240, and personal property $2750, and who pays one poll tax?

007sonal property, $346321.25.

11.

114.34

2. The assessed value of the real estate of a town is $760000, and of the personal property $500000. The sum to be raised to defray town expenses is $7827.90 net, after allowing 3% for collecting. How much must be collected, and what is the tax per $100, if the town contains 620 polls who pay $1.50 each?

3. The assessed valuation of a town is $1264000. The amounts to be raised by taxation for the expenses of the year are: For schools, $3500; for streets, $2200; for salaries of officers other than that of collector, $1500; for interest on the town debt, $2340; for construction of a bridge, $4000; for collector's fee, $284, and for sundry expenses, $1060. There are 980 polls, who pay $1.00 each. What is the tax-rate per $1000, and what is A's tax, whose real estate is worth $7500 and personal property $2800, and who pays one poll tax?

120

4. The taxes of the town of A for the year 1907 were levied to cover the following expenses: Support of poor, $1800; State and school tax, $12960; roads and bridges, $3100; county expenses, $1968.44, less a surplus in the treasury, $1140.84; accounts audited by town auditors, $1233.75; incidentals, $1478.65. Of this tax, 560 polls pay $2.50 each, and the estimated revenue from licenses is $1000. The taxable property is, real estate, $879502.50 and personal property $738525. The above estimate does not include the collector's fee of 2%. What is the tax-rate per $100?

5. A certain county has a valuation of $12743825, and the number of taxable polls is 9775. The expenses for a certain year were estimated to be: For schools, $18500; for interest on a debt of $25000 for the year, one-half at 6% and the remainder at 5%; for roads and bridges, $8400; for salaries, $7200; and for other expenses, $14750. The county polltax was 75c., and the revenue from licenses, $4200. What rate of tax must be assessed to cover the above expenses and a sinking-fund of $6000?

6. The value of the real estate in a certain town is
$2385000; personal property, $865000. A poll-tax of $2 is
assessed on each of 935 persons. The town votes to raise
for schools, $12000; roads and bridges, $4000; support of
poor, $3000; pay of town officers, $800; interest on debt,
$320; fire department, $1000; contingent expenses, $3500.
How much tax will be paid by A, who has $3800 worth of
real estate and $5000 personal property, but is a non-resident
of the town?

7. A town with a valuation of $3000000 in real estate
and $1500000 in personal property raised the following
sums by taxation: $18000 for roads; $26000 for schools;
$6000 for a bridge; $3000 for county expenses;
for sinking fund; $30000 for a public building; and $9560
for interest on town debt. There were 1560 poll taxes
of one dollar each, 20 licenses of $1500 each were granted
by the town, and there was an unexpended balance in the
treasury of $8750. The collector received 23% for col-
lecting the taxes and this amount is not included in the
above sums. What is the tax per $1000?

DUTIES.

144. DUTIES or CUSTOMS are taxes assessed by the general government upon imported merchandise to produce a revenue for support of the government and for the protection of home industry.

145. CUSTOM-HOUSES are branches of the Treasury Department established by Congress at certain places on the shores and boundaries of the United States for the collection of duties and for entry and clearance of vessels.

NOTE. The boundaries of the United States are divided into collection districts, in each of which there is a port of entry and one or more ports of delivery. Thus, the District or Port of Boston and Charlestown includes the shores of the counties of Middlesex, Suffolk, and Norfolk. All entries of goods, and estimates and payment of duties thereon, must be made at Boston, after which the goods may be delivered at any one of the following ports of delivery: Boston, Medford, Cohasset, Hingham, Weymouth, Cambridge, Roxbury, and Dorchester. A Deputy Collector is stationed at Cohasset. All ports of entry are also ports of delivery. Vessels must be entered and cleared at the port of entry.

146. An INVOICE or SHIPPERS' MANIFEST is an itemized bill of the goods, showing the quantity, quality, and price of the goods, as also all charges and the names of consignor and consignee, etc.*

NOTE 1. All invoices are required to be made in the weights, measures, and moneys of the country in which the purchase is made. To change these moneys to U.S. money, use is made of a table showing the values of foreign moneys as proclaimed each year by the Secretary of the Treasury. (P. 125.)

NOTE 2. - The Consul of the U.S. at the foreign port makes two copies of the original invoice, one to send to the Collector of the port at which the goods are to be entered, and one to keep on file. He also makes a certificate as to the quantity and value of the goods, and, when no value has been proclaimed for the money in which the invoice is made, he certifies to that also. NOTE 3. - The government requires that the invoice shall show five classes of charges, when so many occur, viz., 1, Market Price of the Goods; 2,