Annual Report of the Tax Commissioner of the State of Texas, volume 3

Cover Annual Report of the Tax Commissioner of the State of Texas, volume 3
Annual Report of the Tax Commissioner of the State of Texas, volume 3
Texas. State Tax Board
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Taxation by a uniform rule will require that the rate of taxation shall be uniform, and such uniformity co-extensive with the territory to which it applies, whether the tax is a State, county, township or city tax ; and that every species of property not exempt from taxation, whether lands, goods, money or choses in action, and however used or employed, shall go upon the tax duplicate at its true value in Digitized by Google Report of the Tax Commissioner. 75 money. The true value in money is a...dopted as a standard for taxation as the basis upon which a uniform rate of taxation is to be fixed. But taxation by a uniform rule does not necessarily demand that there should be the same mode of assessment for every species of property, without regard to any classification. An assessment, in the sense of a valuation of the property of the taxpayer for the purpose of determining the pro- portion of tax to be paid, should, it is true, be uniform in its mode, to the extent that the property is assessed according to its true value in money.

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