THE LAND AND INCOME TAX.

Ellesmere Guardian, Volume X, Issue 931, 1 August 1891, Page 2

THE LAND AND INCOME TAX.

There appears to be some misappre-. tension as to the incidence of the Land and Inoome Tax, more especially m so \ tar as it affeijts Land. The following calculations showing the comparative, tmoonts payable under the pt»serit Property Tax, and under the proposal hew ' Tax, may be read with interest, In the cage of an owner whose land is. assessed, *t £2^oo, inclusive of, say £600 for

improvement?,; he would pay one penny ■n the £ on £2000 less the £500 exemption, or. pn £1500, amounting io £6 ss. 'Under 'the propose 1. Act, he. would pay one penny m the £ on £1400/ boing on the value of t'io J«nd ;i L;ss f , the improvemeots, and would 'be fn'r'thbr ertt'tlod/his taxable yalup,,bejiig pnler'the,,' limit, of £1500; to 1 the £6oo exemption. ; He would then paydne^ p3nny ih'th'e £' on £900 y or,£i.Xsia., which ,fo ;! £^;IQ^. less than he now pay^l' v Should hisiland' be worth £4000 with, ;. say £1000 of improvements on it, he now pays m ! Pro' perty Tax, £14 ; 11.8. '.8 J. Under 1 the new Act he .will pay one penny m fche £ on £8000, or £12 10s., a savirig 'of £2 Is. Bd. Should the I»nd be worth £8000, the improvements being £2000, he now pays £31 ss, He will m future be taxed one penny m the pound on £6000, and one eighth of a penny on £6000, {the value of the land le^s, improvements,) or £28 2s. 6d. Should the land be assessed at £20,000, witli I £5000 of improvements, Property Tax j claims £81 ss. The Lan^ Tax w,ould j be one jenny on £17000, (being thej value 1 of the land with exempt'iori'iforlj improvements to £30^(^6/ -^TQi 6s. | Bd. and three eighths : of' a , on, £15,000, (being the Value of the larid| without improvements) pii £23 Bs. 9d.; a total of £94 ssi sdi being £14 os. 5dJ more than the owner pays now. !