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ARTICLE
IX. TAXATION
AND FINANCE. Section
1. The Legislature
shall provide for a uniform and equal rate of taxation, and shall prescribe
such regulations as shall secure a just valuation of all property, both real
and personal, excepting such property as may be exempted by law for municipal,
educational, literary, scientific, religious or charitable purposes. Section
2. The Legislature
shall provide for raising revenue sufficient to defray the expenses of the State
for each fiscal year, and also a sufficient sum to pay the principal and interest
of the existing indebtedness of the State. Section
3. No tax shall
be levied except in pursuance of law. Section
4. No money shall
be drawn from the treasury except in pursuance of appropriations made by law.
Section
5. The Legislature
shall authorize the several counties and incorporated cities or towns in the
State to assess and impose taxes for county and municipal purposes, and for
no other purposes, and all property shall be taxed upon the principles established
for State taxation. But the cities and incorporated towns shall make their own
assessments for municipal purposes upon the property within their limits. The
Legislature may also provide for levying a special capitation tax, and a tax
on licenses. But the capitation tax shall not exceed one dollar a year and shall
be applied exclusively to common school purposes. Section
6. The legislature
shall have power to provide for issuing State bonds only for the purpose of
repelling invasion or suppressing insurrection, or for the purpose of redeeming
or refunding bonds already Section
7. No tax shall
be levied for the benefit of any chartered company of the State, nor for paying
interest on any bonds issued by such chartered companies, or by counties, or
by corporations, for the above-mentioned purpose. Section
8. No person
or corporation shall be relieved by any court from the payment of any tax that
may be illegal, or illegally or irregularly assessed, until he or it shall have
paid such portion of his or its taxes as may be legal, and legally and regularly
assessed. Section
9. There shall be exempt from taxation property to the value of two hundred
dollars to every widow that has a family dependent on her for support, and to
every person that has lost a limb or been disabled in war or by misfortune.
Section
10. The credit
of the State shall not be pledged or loaned to any individual, company, corporation
or association; nor shall the State become a joint owner or stockholder in any
company, association or corporation. The Legislature shall not authorize any
county, city, borough, township or incorporated district to become a stockholder
in any company, association or corporation, or to obtain or appropriate money
for, or to loan its credit to, any corporation, association, institution or
individual.
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