U.S. totals for farm tangible personal property taxes increased from $286.1 million in 1960 to $424.9 million in 1972. This was an increase of 48.5 percent, or about 4.0 percent annually. Arkansas had the highest 12-year rate of increase at 153.2 percent, followed by California at 150.0 percent. As a proportion of the total farm property tax burden (real plus personal property), personal property taxes have exhibited some pronounced cyclical fluctuations since 1924. In 1972, they accounted for 15.1 percent of the total farm property tax bill. More States are exempting farm personal property from taxation. By 1972, 11 States had totally exempted it. Many of the other 39 States exempted one or more of the four commonly taxed classes of farm personalty: 4 exempted livestock, 4 exempted farm machinery, 18 exempted motor vehicles, and 24 exempted household goods. Personal property taxes during 1967-72 increased on livestock and farm machinery, and decreased on motor vehicles and household goods. Since 1950, real and personal property taxes have increased significantly as a percentage of gross farm income and of net farm income.