||ARTICLE XII, SECTION 2
PROPOSING TO AMEND ARTICLES XII, SECTION 2 OF THE CONSTITUTION SO AS TO PROVIDE FOR TAXATION BY UNIFORM RULE OF ALL REAL ESTATE AND TANGIBLE PROPERTY EXCEPT MOTOR VEHICLES, AND TO PROVIDE FOR THE TAXATION OF INTANGIBLE PROPERTY.
Sec. 2. Laws shall be passed, taxing by a uniform rule all * * real estate and improvements thereon and all intangible personal property according to their true value in money, * * excepting motor vehicles which shall be taxed as may be provided by law.
But all bonds outstanding on the first day of January, 1913, of the state of Ohio or of any city, village, hamlet, county or township in this state or which have been issued in behalf of public schools in Ohio and the means of instruction in connection therewith, * * and all bonds issued under article VIII, section 2a of this constitution for the world war compensation fund, shall be exempt from taxation; and burying grounds, public school houses, houses used exclusively for public worship, institutions used exclusively for charitable purposes, public property used exclusively for any public purpose, and tangible personal property, to an amount not exceeding in value five hundred dollars for any individual, may by general laws, be exempted from taxation; and laws may be passed to provide against the double taxation that results from the taxation of both the real estate and the mortgage or the debt secured thereby, or other lien upon it, but all such laws shall be subject to alternation or repeal; and the value of all property, so exempted, shall from time to time, be ascertained and published as may be directed by law.