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Many associates of the company held army bounty warrants, which they could exchange for federal land, totaling 142,900 acres (578 km 2). Later in 1792, the Ohio Company purchased another 214,285 acres (867.18 km 2) in Morgan, Hocking, Vinton and Athens counties, using these bounties, with the 1/3 discount for bad lands, as in the first purchase.
Land value taxation (i.e. property tax applied only to the unimproved value of land) has a long history in the United States dating back from Physiocrat influence on Thomas Jefferson and Benjamin Franklin. It is most famously associated with Henry George and his book Progress and Poverty (1879), which argued that because the supply of land is ...
Sections are customarily surveyed into smaller squares by repeated halving and quartering. A quarter section is 160 acres (65 ha) and a "quarter-quarter section" is 40 acres (16 ha). In 1832 the smallest area of land that could be acquired was reduced to the 40-acre (16 ha) quarter-quarter section, and this size parcel became entrenched in ...
Median household income and taxes. Most local governments in the United States impose a property tax, also known as a millage rate, as a principal source of revenue. [1] This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio ...
The Public Land Survey System ( PLSS) is the surveying method developed and used in the United States to plat, or divide, real property for sale and settling. Also known as the Rectangular Survey System, it was created by the Land Ordinance of 1785 to survey land ceded to the United States by the Treaty of Paris in 1783, following the end of ...
The Ohio Company, formally known as the Ohio Company of Virginia, was a land speculation company organized for the settlement by Virginians of the Ohio Country (approximately the present U.S. state of Ohio) and to trade with the Native Americans. The company had a land grant from Britain and a treaty with Indians, but France also claimed the ...
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