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Property Tax Report #457074

NBC Evening News for Tuesday, Apr 13, 1971
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(Studio) City Mayors interested in reworking property tax laws.
REPORTER: Frank Mcgee

(No location given) Mayors count on Federal Govt. for money; Federal Govt. better at raising money than cities. Property tax, major source of city revenues; examples cited of exemptions from property tax payments. [Ralph NADER - says tax exempt principle set up to give charitable and educational institutions chance to start; now many institutions affluent and cities suffer as result.] 25% of Pittsburgh, Pennsylvania, property exempt; 54% in Boston, Massachusetts; 66% exempt in Newark, New Jersey. [NADER - says small home owner ends up paying more than fair share, as result of exemptions.] Property taxes assessed low on vacant land and slums; owners encouraged to leave them as are. [US Conf. of Mayors Spokesperson John GUNTHER - says problem with property tax, improvements taxed.] Next report deals with property tax distortions. REPORTER: Jack Perkins

Mcgee, Frank

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