Subjects may by classified. Uniformity of taxes.
Proviso: income from property already taxed.
Separation of subjects.
Sec. 2. The General Assembly may, consistent with natural justice and equity, classify subjects of taxation; and all taxes shall be uniform upon the same class of property within the territorial limits of the authority levying the tax: Provided, that no income shall be taxed when the property from which the income is derived is taxed; and, consistent with natural justice and equity, the General Assembly may separate subjects of taxation for State and local purposes.
State tax on real estate if subjects be separate.
Sec. 3. If the subjects of taxation be separated for State and local purposes, in a manner not allowed by law immediately prior to the adoption of this amendment, no part of the ad valorem tax on real estate, except the real estate of public service corporations, shall be applied to State purposes.
Power to tax not surrendered. Property exempted.
Property which may be exempted.
Sec. 4. The power to tax shall not be surrendered, suspended, or contracted away, but property belonging to the State, a county, or a municipality shall be exempt from taxation; and the General Assembly may exempt cemeteries, property held and used for educational, scientific, literary, charitable, or religious purposes; and also personal property of a natural person of a value not exceeding three hundred dollars ($300).
Limit of rate for State and county purposes.