PUBLIC SCHOOL FINANCE 251

of Equalization to overrule the equalized valuations of the
Tax Commission injects another variable into the problem.
It may be questioned, therefore, whether the present procedure
 could provide a satisfactory base for the school
equalization program.
Briefly, the plan assumes that a levy of $0.20 per $100 of
assessed valuation for school purposes represents approximately
 the same rate on true value, regardless of where the
school district is located. The other important factor which
would have to be considered before a uniform base could be
established is variation in assessment ratios. Unless it can
be shown that property is uniformly assessed throughout the
state, the minimum program can result only in equalizing on
an unequalized base. It would be just as logical to base such
a program upon a uniform assessment ratio and a variable
tax rate as to base it upon a variable assessment ratio and a
uniform tax rate. Property escaping taxation is another
aspect of the problem, but for the sake of clarity the analysis
may be confined to differences in assessment ratios.

TasLE 80: ScrooL Ap Moneys IN RELATION TO ASSESSED
Vavrvarions, ONe-TeacHER Districts aT $900 LEVEL!
Computed by National Industrial Conference Board

District

3
C
2
«

rue Value
of Taxable
Property

$100,000
100,000
100,000
100,000
100,000
100,000
100.000

‘er Cent
»f True
falue at
which
roperty
A gopoer

Py

Assessed
Taluation

,70,000
65,000
50,000
55.000
on
G5, +)
40,000

Tax Rate
per $100
Assessed
aluation

Local
Taxes

1.20 $140
-20 130
20 120
) 110
: 100
| on
1). 20 dl

Rate on
True
Value

Total
Aids?

$0.14 $760
0.13 770
0.12 780
0.11 790
N10 800
2.09 | 810
nN MN

1 First step as proposed by the State Survey Commission.
®t State, county, and township aids.

In order that the relationship between the financial program
 and differences in assessed valuations may be clearly
understood, Table 80 was compiled. This table is based upon
a tax rate for school purposes of $0.20 per $100 of assessed
valuation, and the ratios of assessed valuation vary between
$09, and 709%. The ratios are hypothetical, although they