Seventy percent of the taxes paid by farmers, the author of this article points out, are in the form of taxes on property; and the tax on farm real estate makes up 85 percent of the total property tax. If tax reform is needed by farmers, then, the real estate tax is the place for it. Since farmers pay the real estate tax solely to meet State and local expenses for such things as schools and roads any changes in the system would be a matter for State action; though the Federal Government is involved when State taxes other than the property levy compete with Federal taxes and when Federal subventions are urged to relieve the pressure on the States. This thoughtful article on a complex subject has no easy reforms to offer. It discusses trends in taxation, shows the use made of taxes, points out both faults and advantages of the property tax, and finally discusses the question of public revenues and expenditures in the large framework of the rural-urban balance.