points to seek advice, and what general course he should follow to launch his home acquirement project safely and without unnecessary difficulties or loss.

It is evident that when one has decided to purchase or build a home, the first point to be considered and decided is that of location, Whether or not a special locality may appeal is, naturally, a matter of personal taste with which we are not here concerned. Aside from the question of whether the proposed location appeals to one as generally attractive in appearance, environment, and the like, one must consider various other practical factors in making a definite choice. If expense is not a consideration, many of these factors may, perhaps, be disregarded. In the case of the ordinary home builder of moderate means, however, they should receive the consideration to which they are entitled.

In this day, when we all are bedevilled with taxes of various degrees of unpleasantness, the purchaser may well give thought to the valuations, tax rates and tax policies of the community which he is considering.

In the first place, he might profitably ascertain whether there is a state income tax. More and more the states are coming to adopt this

form of taxation. Whatever may be its merits it seems reasonably clear that, once it is adopted as a state policy and means of raising the necessary state revenues, it is likely to remain permanently. It is a very simple matter for a state legislature, given to a spending rather than to an economy programme, to increase the basic income tax rate and so raise the funds required. The result often is that, as years go by, the rate mounts steadily until a tax, which in the beginning was low, has assumed eventually the proportions of a burden. This may be especially true if the unfortunate householder earns his living in one state and lives in another. If both states have income tax laws, he may well find the division between his residence and business location an expensive one. The state income tax laws will doubtless contain provisions aimed at preventing double taxation, but an increased tax burden will usually be felt none the less. It is well, therefore, before you purchase real property, to consider the tax system which is in force in the state of your intended residence, and the reputation in general of that state for sound and conservative fiscal policies.

Another matter which may profitably be inquired into is the educational policy and machinery of the state. The states, generally, now

have State Departments or Boards of Education, charged with formulating their respective educational policies and, in large measure, the policies of and the limitations upon the local Boards of Education throughout the states.

The average man does not realize to what extent state legislatures are prescribing required subjects for study in our public schools. Each year scores of bills are introduced making this subject or that subject a requirement in all public schools of the state where they are proposed. Many are lost, but many pass and become law. Some are sound. Others reflect the personal whim or belief of some legislator, rather than the reasoned conclusion of those qualified to judge in educational matters. The result is that some states are approaching, or have in fact reached, the point where local boards of education are compelled to sacrifice the proper presentation of many subjects in order to include in the school curriculum the subjects which, under the state statutes, must be included. The policy and the tendencies of the state governments in educational matters are thus reflected directly in the public schools throughout the states. No matter how excellent a local board of education may be, its work will be greatly hampered unless the state laws under which it acts are sound and

are framed with a proper understanding of the necessities and problems of present-day education.

Having found that the state policies in taxation and education are sound, the intending home owner should next consider the soundness of the tax and educational policies in force in the locality where he proposes to live. The state fiscal administration and the state educational administration may be alike admirable. A resident of one of the towns of the state may nevertheless derive very cold comfort from that fact, if the municipal administration is unsound and improvident, and the local school board is composed of men and women lacking in that broadness of outlook and in that mental equipment which their work demands.

To the average owner of real property the taxes to be paid upon it are, of course, of special importance. In a small community, faced with no special problems of police protection, street maintenance, large school accommodations, and the like, taxes will usually be found to be reasonable and not unduly burdensome. As the community grows in population and corresponding needs, however, the taxes will necessarily increase. The questions for the prudent man to determine are: whether the taxes in the commu

nity which he finds appeals to him are reasonable in proportion to the facilities and improvements which the town provides; whether the local government has generally a deserved reputation for sound business sense and a proper balance between the progressive tendencies, necessary to the best development of the community, and those conservative qualities which will act as a balance wheel and prevent any foolish or extravagant local taxes or expenditures of public moneys.

It is well to do something more than consider the local administration in power at the moment. It may be excellent or very bad and yet wholly fail to reflect the normal tendencies and policy of the town. The important thing is the general reputation of the latter for public spirit and for good sense, the character of its citizens, and the quality of the government which, on the average, it has enjoyed and which it may normally be expected to enjoy in the future.

There is a clear distinction which must always be borne in mind between property valuations and the tax rate. The thing in which the property owner is interested is the amount of tax which he will be actually called upon to pay. The tax rate may be low, and yet, if the prop erty valuation on which it is figured is high,