20

THE  A  B  C  OF  TAXATION

time;  corresponding  exemptions;  the  exemption  of
assessed  value;  and  the  single  tax  as  an  income  tax.
VIII.—The  Taxation  of  Real  Estate  Only
Every  single  taxer,  no  doubt,  may  be  relied  upon  to
vote  for  the  concentration  of  ail  taxes  upon  real  estate
(land  and  buildings),  as  a  rapid  transit  measure  toward
his  preferred  exemption  of  buildings  also.  Such  a
course  would  secure  a  basis  for  honest  assessment  and
collection,  and  would  eliminate  the  possibility  of
evasion,  but  how  much  of  an  advance  would  this  be
toward  a  just  equalisation  of  the  burden?  The  landlord ­
  of  a  new  building  would  still  be  paying,  as  he  does
now,  the  taxes  of  an  adjoining  landlord  of  old  buildings
or  of  none  at  all.  He  would  be  worse  off  by  his  disproportionate ­
  share  of  taxes  transferred  from  personal
property.
If  Smith  owns  land  and  buildings  in  equal  amount  he
will  pay,  for  each  $1,000  of  land,  taxes  upon  .  .  $2,000
If  Jones  owns  land  with  worthless  buildings,  or  none
at  all,  he  will  pay,  for  each  $1,000  of  land,  taxes
upon  ........  1,000
If  Brown  owns  his  own  house,  worth  three  times  as
much  as  his  land,  he  will  pay,  for  each  $1,000  of
land,  taxes  upon  ......  4,000
Under  the  theory  that  taxes  are  absorbed  in  maintaining ­
  the  value  of  the  land,  as  indicated  by  the  equal
or  even  greater  price  that  land  often  commands  when
practically  unimproved  rather  than  improved,  it  is
held  that  the  proportion  of  advantage  afforded  by  the
public  outlay  is  fairly  represented  by  the  value  of  the
land.  If  this  theory  is  sound,  then  neither  Smith,  who
pays  twice  as  much  as  Jones,  nor  Brown,  who  pays
four  times  as  much,  has  any  greater  command  per