US Taxable Property Doubled In 1991 From Previous Decade
THE assessed value of United States taxable property rose to almost $7 trillion in 1991, more than double its value a decade earlier, according to the 1992 Census of Governments report ``Taxable Property Values: Vol. II,'' released yesterday.
Locally assessed real property accounted for more than $6 trillion of the $7 trillion, forming the basis for the collection of more than $178 billion in state and local property taxes during the 1991-92 tax year.
The study also reports that:
* Local assessments on real property accounted for more than 87 percent of all assessed property values.
* Increases in assessed values reflect increases in national real and personal property market values, changes in applicable tax assessment levels, and/or reassessments within applicable levels.
* Locally assessed personal property totaled $595 billion; state assessed real/ personal property reached $286 billion.
TV, camcorder sales set records in October
HE video market continued to set new sales standards in the month of October.
All-time October bests were recorded for color televisions, projection TVs, camcorders, and TV/VCR combinations, according to the Electronic Industries Association, a consumer group in Washington.
``Our research indicates that there is a significant amount of replacement buying under way, and the home-rebuilding cycle is finally beginning to affect television sales,'' says Jack Osborn, president of Mitsubishi Consumer Electronics America Inc.
Also, consumers have plenty of disposable income, and manufacturers have introduced aggressive credit promotions, Mr. Osborn says.
Combined sales of all video products climbed 10 percent from October 1993 and are up 8 percent for the year to date, the Electronic Industries Association reported.
Color-television sales rose a solid 6 percent in October and are up 8 percent for the year to date.
Shipments of 25-inch television sets were particularly strong, rising 13 percent in October.
Projection TVs were up 40 percent that month, giving the projection market an average monthly growth of 39 percent through the first 10 months of 1994.