Texas Almanac, 1943-1944 Page: 239
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STATE FINANCES. 239
A large source of revenue to the state is
the gross receipts tax, most of which comes
from crude petroleum production. Formerly
its proceeds were approximately evenly di-
vided between general revenue and available
school funds, but under provisions of the
omnibus tax bill of 1941 nearly all of it goes
into the omnibus tax clearance fund, a reser-
voir on which the old-age, teachers' retire-
ment and other pension claims have priority.
The inheritance tax goes entirely Into the
general revenue fund. There is a poll tax of
$1 per capita on adults for the benefit of the
public schools, and 50c for the general re e-
nue fund, making a total of $1.50 for state
purposes. Counties may add a maximum of
25c. This tax is a prerequisite for voting in
Texas.
There are a number of occupation taxes,
including the store tax, insurance company's
occupation tax and the general occupation
tax. These now are paid largely into the
omnibus tax clearance fund, from which they
go to the various social security funds and to
the available school and general revenue
funds. There are stamp taxes on notes, ciga-
rettes, wine, beer, and excise taxes on pre-
scriptions, automobile sales, cosmetics, play-
ing cards and radios. They go primarily to
the omnibus tax clearance fund. Franchise
taxes go to the general revenue fund.
The highway motor fuel (gasoline) tax of
4c a gallon which brings more revenue than
any other single source goes in the propor-
tions of (1) one fourth to the available school
fund, (2) one fourth to the county and road
district indebtedness highway fund for re-
tirement of road bonds assumed by the state,
and (3) one half to the State Highway De-
partment fund for construction and mainte-
nance of state highways. Automobile license
fees go to the highway fund.
In addition to these tax sources there are
a number of fees, permits, rents, royalties
and other forms of revenue. For a tabula-
tion of all of these taxes and other sources
of revenue with amounts derived therefrom,
and funds into which paid, see the table,
Sources of State Revenue-Funds Into Which
Paid, on page 241.
TEXAS TOTAL TAX VALUATIONS AND
AD VALOREM RATES, 1900-1942.
Table below from reports of the State Comp-
troller of Public Accounts shows total valuation
of taxable property min Texas for each year, 1900
to 1942, inclusive, and the tax rates for general
revenue fund, available school fund and Confed-
erate pension fund. (See footnote on page 238 )
Rate of TaxT
General Total
revenue School Pension assessed
Year- fund. fund fund. valuation
1900 .. .16 2-3 .18 .... 946,320,258
1901 .... 16 2-3 .18 .... 982,187,865
1902 .... .16 2-3 18 .... 1,017,571,732
1903 .... 16 2-3 18 .... 1,064,948,033
1904..... 16 2-3 .18 .... 1,082,779,775
1905..... 20 18 .... 1,139,022,730
1906 .... .20 .18 .... 1,221,159,869
1907..... .12%1 .20 .... 1,635,297,115
1908 .... 06 , 16 2-3 .... 2,174,122,480
1909 .... 05 .16 2-3 .... 2,300.803,626
1910..... .04 .16 2-3 .... 2,388,500,124
1911 .... 12i% .16 2-3 .... 2,515,632,745
1912 .... 10 .16 2-3 2,532,710,050
1913 .... 23 17 $0 05 2.680.907,991
1914 .... 121'4 20 05 2,743,078,976
1915 .... .30 .20 .05 2,755,171,793
1916 .... 20 .20 05 2,748,310,775
1917 35 20 .05 2,871,744,269
1918 30 20 05 3.012.819,287Rate of Tax-
General Total
revenue School Pension assessed
Year- fund fund fund valuation
1919..... 35 35 05 3,200,295,205
1920 .... 22 35 05 3,390,953,149
1921..... 22 35 05 3,455.360,089
1922..... 35 35 05 3,242..66.587
1923..... 35 35 05 3,423.103,371
1924..... 35 35 05 3,419,091.814
1925..... 35 35 07 3,526.581.523
1926.... 23 35 07 3,644,S23 070
1927.... 25 35 07 3.899.958.777
1928 .... 22 .35 07 3,961.426,097
1929.... 30 31 07 4,210,105.462
1930.... 27 35 07 4,328.212,712
1931..... 32 35 07 4,241.62,299
1932. .... 27 35 07 3,962,S43 346
1933.... 35 35 07 3,198,117,451
1934.... 35 35 07 3.207,098 642
1935.... 35 20 07 3,191.608 321
1936.... 35 20 07 3.247,532.305
1937..... .35 .07 07 3,424.408.761
1938..... 35 0 07 3,497,875 883
1939 .... 35 35 07 3,546,383.311
1940 .... 35 27 07 3.580.407.685
1941 .... 35 16 07 3,718,023,450
1942 . 35 33 07 3,859,999,128
TEXAS TAXABLE PROPERTY VALUES.
Summary of property and value thereof In the
State of Texas as shown by the assessments for
the year 1942, as reported by the State Comp-
troller of Public Accounts
Number Value
Land assessed, acres 169,549,309.31 $2,013,729,168
Tow n lots 1,365,677.117
Horses and mules . 711 260 15.393,456
Cattle . 4.677.438 72,682.111
Jacks and ennets... 2.695 78,201
Sheep ............... 7,001,587 17,968,077
Goats ............... 2272.887 3.947.796
Hogs ............... 403,610 1,705.333
Dogs .............. 3,278 44,408
Vehicles . 1.028,325 125,061.489
Goods, merchandise ....... 165,848,081
Materials and manu-
factured articles ...... 25,936,950
Manufacturer's tools
and implements ...... 80,785,390
Steam engines and
boilers ...... 12,059,721
Money of banks and
bankers ........ 2,843,512
Credits of banks and
bankers ...... 2,231,320
Money of others than
banks .. ..... 3,079,874
Money on hand or on
deposit ...... 6,803,854
Credits of others than
banks ...... 2,238,644
Stocks and bonds ...... 1,159,675
Shares capital stock ...... 3,737,170
Property of companies
and corporations ...... 141,926,428
Miscellaneous property ...... 115,576.808
State, national banks ...... 51,146,019
Railroads assessed in
miles ............ 131,718, 719
Rolling stock ...... 18,418,455
Intangible value (rail-
road) ...... 36,915,470
Street railways and
interurbans ...... 1,743,383
Telephone and tele-
graph lines ...... 43,571,736
Steam and other ves-
sels ...... ....... 925,800
Pipe lines 100,670,832
Intangible value (pipe
lines) . .. ...... 36,813,560
Total .. . $4,602,438,557
'Total xalue for state $3,859,999,128
*Homestead exemption Nalue deductedDallas an Antonio
Plainview
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Texas Almanac, 1943-1944, book, 1943; Dallas, Texas. (https://texashistory.unt.edu/ark:/67531/metapth117165/m1/241/: accessed April 28, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Texas State Historical Association.