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wealth on real estate values -only. The formula proposed this year is along the lines of the formula that I have favored.
It provides that locally taxable wealth shall be measured by real estate values to the extent of 50 percent, personal income to the extent of 40 percent, and retail sales to the extent of 10 percent. This formula is a more accurate measure of the differences in taxable wealth among the localities and will result in the distribution of more funds to the localities in our section of the state. The prospects are favorable for the adoption of this formula.
ANOTHER proposal by the State Board of Education requires all counties
98.0%