88 THE FISCAL PROBLEM IN MISSOURI

holders on the value of their shares would be double taxation.!
 This consideration is apparently deemed sufficient
reason to justify the exemption. Property sent out of the
state for an honest purpose is not taxed,’ and merchandise
on which a license tax is paid is exempt? Manufacturers
whose property is valued at less than $1,000 are not taxed,’
and the same is true of the property of agricultural and
horticultural societies.’ Finally, bills and accounts receivable
 and other credits arising out of the sale of goods which
were returned for taxation are exempt from the general
property tax.’

TasLe 28: ProPeErTY Tax RATES! ror STATE PURPOSES,
1910 a~p 1915-1930
Source: Biennial Report of the State Auditor. 1927-19282

Yerr

Revenue
Tax

Interest
Taw

Capitol
Building
Tu

Blind
Pensions |

Soldiers’
Bonus
Interest
and Sinking
Fund

Total

1916 pQ
1915 | 0.1
1916 0.1.
1917 | 0.1"
1918 0.1.
1919 on
20 0.1
11 nny
122 'n7
723 Yog
924 105
925 %
926
927
1028
1929
1930
1 Per $100 of assessed valuation.
2 Rates for 1929 and 1930 obtained by correspondence with the State Auditor.

The general property tax rate for state purposes is a combination
 of rates levied for specified purposes. Table 28
shows the total state rate and the distribution of the total
among (1) revenue tax, (2) interest tax, (3) capitol building
t State ex rel. Orr v. Buder, 308 Mo. 237, 271 S. W, 508,
2 See R. S. 1919, Section 12769 and case cited thereunder.
8R. S. 1919, Section 12766, as amended Session Laws, 1927, p. 472.
4 Session Laws 1923, p. 368-370. 5R. 8. 1919, Section 12754.