PROPERTY-TAX REVENUE. (RETURNS RELATIVE TO.)

Appendix to the Journals of the House of Representatives, 1888 Session I, B-23

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1888. NEW ZEALAND.

PROPERTY-TAX REVENUE. (RETURNS RELATIVE TO.)

Return to an Order of the Souse of Representatives dated 12th July, ISBS. Ordered, " That a return be laid before this House showing (1) what decrease of property-tax revenue would have been receivable during the past financial year if the exemptions had excluded from the tax persons owning three thousand pounds' worth of property, or the capitalised income of .-£l2O per annum at i per cent; (2) what increase of property-tax would have been receivable during the past financial year if the tax had been graduated on land owned by any person (deducting the amount of the mortgage,) at the rate of an additional farthing in the pound on each £5,000 (or part of such sum) in value above the first £5,000 ; (3) the percentage of the income from each class of property which such graduated tax would absorb, assuming property to yield a net income of 5 per cent: such return to -distinguish properties owned by public companies from those owned by private individuals or firms."— (Mr. Ballakce.)

1. Deckease of Pi-tOPEBTY-TAX that would have been receivable during the past Financial Year if the Exemptions had excluded from the Tax Persons owning Three Thousand Pounds* worth of Property, or the Capitalised Income of £120 per Annum at 4 per Cent. £ s. d. Persons ... ... ... ... ... 61,192 8 4 Companies ... ... ... ... ... 2,336 6 8 £63,528 15 0 J. Speeeey, Commissioner.

2. Inchbase of Pbopebty-tax that would have been receivable during the past Financial Year if the Tax had been graduated on Land owned by any Person (deducting the amount of Mortgage) at the rate of an additional Farthing in the Pound on each £5,000 (or part of such Sum) in Value above the first £5,000. £ s. a. Persons ... ... ... ... ... 104,030 10 If Companies ... ... ... ... ... 16,608 19 0J £120,639 9 2 J. Si'EBREY, Commissioner*

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3. The Percentage of Income from Each Class of Property which such Graduated Tax would absorb, assuming Property to yield a Net Income of 5 per Cent.

J. Speeeey, Commissioner.

Capital Value. Rate. Estimated Tax. Income at 5 per Cent. Per Cent. on Income. Tax in the .£1 of Income. £ 5,000 5,000 5,000 5,000 25,000—5,000 5,000 5,000 5,000 5,000 50,000—5,000 5,000 5,000 5,000 5,000 75,000—5,000 5,000 5,000 5,000 5,000 100,000—5,000 5,000 5,000 5,000 5,000 125,000—5,000 5,000 ' ■ ' 5,000 5,000 5,000 150,000—5,000 5,000 5,000 5,000 5,000 3 75,000—5,000 5,000 5,000 5,000 5,000 200,000—5,000 5,000 5,000 5,000 5,000 225,000—3,000" 5,000 5,000 5,000 5,000 250,000—5,000 5,000 5,000 5,000 5,000 275,000—5,000 5,000 5,000 5,000 5,000 300,000—5,000 5,000 5,000 5,000 5,000 325,000—5,000 5,000 5,000 5,000 5,000 350,000—5,000 5,000 5,000 5,000 5,000 375,000—5,000 s. a. o i o lj o ij o i| 0 2 0 2£ 0 2* 0 2J 0 3 0 8J 0 Si 0 S| 0 4 0 4i 0 U 0 4| 0 5 0 51 0 5* 0 5J 0 6 0 6£ 0 6| 0 6j 0 7 0 7£ 0 7,4 0 7| 0 8 0 8J 0 8.} 0 8J 0 9 0 9J 0 9* 0 9| 0 10 0 10J 0 lOj 0 lOf 0 11 o iii o nj 0 ii| 1 0 i oj 1 OJ 1 0} 1 1 1 11 i i-i l if 1 2 l 9§ 1 2,} 1 2} 1 3 1 3J : 1 3J 1 3* 1 4 l H 1 4J 1 4J 1 5 1 61 i el 1 5* 1 6 1 61 1 64 1 6J 1 7 i n s s. a. 20 16 8 20 0 10 31 5 0 30 9 2 41 13 4 46 17 6 52 1 8 57 5 10 02 10 0 67 14 2 72 18 4 78 2 6 83 0 8 88 10 10 93 15 0 98 19 2 104 3 4 109 7 6 114 11 8 119 15 10 125 0 0 130 4 2 135 8 4 140 12 6 145 16 8 151 0 10 156 5 0 101 9 2 166 13 4 171 17 6 177 1 8 182 5 10 187 10 0 192 14 2 197 18 4 203 2 6 208 6 8 213 10 10 218 15 0 223 19 2 229 3 4 234 7 6 239 11 8 244 15 10 250 0 0 255 4 2 260 8 4 265 12 6 270 10 8 276 0 10 281 5 0 286 9 2 291 13 4 296 17 6 302 1 8 307 5 10 312 10 0 317 14 2 322 18 4 328 2 6 333 6 8 338 10 10 343 15 0 348 19 2 354 3 4 359 7 6 364 11 8 369 15 10 375 0 0 380 4 2 385 8 4 390 12 6 395 16 8 401 0 10 400 5 0 £ 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 250 £ s. a. 8 6 8 10 8 4 12 10 0 14 11 8 16 18 4 18 IS 0 20 16 8 22 18 4 25 0 0 27 1 8 29 3 4 31 5 0 88 6 8 35 8 4 37 10 0 39 11 8 41 13 4 43 15 0 45 16 8 47 18 4 50 0 0 52 1 8 54 8 4 50 5 0 58 6 8 60 8 4 62 10 0 64 11 8 66 18 4 68 15 0 70 16 8 72 18 4 75 0 0 77 1 8 79 8 4 81 5 0 83 6 8 85 8 4 87 10 0 89 11 8 91 18 4 93 15 0 95 16 8 97 18 4 100 0 0 102 1 8 104 3 4 106 5 0 108 G 8 110 8 4 112 10 0 114 11 8 116 13 4 118 15 0 120 16 8 122 18 4 125 O 0 127 1 8 129 8 4 131 5 0 133 6 8 135 8 4 137 10 0 139 11 8 141 13 4 143 15 0 145 16 8 147 18 4 150 0 0 152 1 8 154 3 4 156 6 0 158 6 8 160 8 4 162 10 0 £ r. a. 0 18 0 2 1 0 2 6 0 2 11 0 3 4 0 3 9 0 4 2 0 4 7 0 5 0 0 5 5 O 5 10 0 6 3 0 6 8 0 7 1 0 7 6 0 7 11 0 8 4 0 8 9 0 9 2 0 9 7 0 10 0 0 10 5 0 10 10 0 11 3 0 11 8 0 12 1 0 12 G 0 12 11 0 13 4 0 13 9 0 14 2 0 14 7 0 15 0 0 15 5 O 15 10 0 16 3 0 10 8 0 17 1 0 17 6 O 17 11 0 18 4 0 18 9 0 19 2 0 19 7 10 0 10 5 1 0 10 1 1 3 118 12 1 12 6 1 2 11 13 4 13 9 14 2 14 7 15 0 1 5 5 1 5 10 1 6 3 16 8 17 1 1 7 6 1 7 11 1 8 4. 18 9 19 2 19 7 1 10 0 1 10 5 1 10 10 1 11 3 1 11 8 1 12 1 1 12 6

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4. Statement showing the Results if Tax had been so graduated.

Examples : A person or company whose real property was worth £150,000 after deducting mortgages would pay £2,890 12s. 6d. a year; and a person or company whoso real property was worth £375,000 after deducting mortgages would pay £16,015 12s. 6d. a year. J. Spherey, Commissioner. Cost of Fagier. —Preparation, £2,0; printing (1,278 copies), £2 12s. Cd.]

Authority : Geobqe Didseuey, Government Printer, Wellington.—lBBB.

Capital Value of Owners' Property less Mortgage. Estimated Tax Per Annum. Income at ;j per Cent. Percentage of Tax on Iiicomo. Tax in the £1 on Income. £ 25,000 50,000 75,000 100,000 125,000 150,000 175,000 200,000 225,000 250,000 275,000 300,000 325,000 350,000 375,000 & b. a. 156 5 0 442 14 2 859 7 6 1,406 5 0 2,083 6 8 2,890 12 6 3,828 2 6 4,895 16 8 0,093 15 0 7,421 17 6 8,880 4 2 10,408 15 0 12,187 10 0 14,036 9 2 16,015 12 6 £ 1,250 2,500 3,750 5,000 6,250 7,500 8,7-50 10,000 11,250 12,500 13,750 15,000 16,250 17,500 18,750 £ s. a. 12 30 0 17 14 2 22 18 4 28 2 G 33 G 8 38 10 10 43 15 0 48 19 2 54 3 4 59 7 G 04 11 8 09 35 10 75 0 0 80 4 2 85 8 4 s. a. 2 G 3 <;i ■4 7 6 7* 6 8 7 8J 8 9 0 9J 10 10 11 10} 12 It 13 Hi 1.5 0 1G OJ 17 I