This report describes property tax revenues and assessment rates for all 50 States during 1966. The following information is summarized by State and by class of property: (1) The total valuation and the taxable valuation of property subject to local general property taxation and the percent distribution of total valuation by class of property; (2) the major types of tangible personal property subject to local general property taxes; (3) the number of parcels of real property by major-use class and percent distribution; and (4) the ratios of assessed values of transferred real property to sales prices. The recommendations of the nonpartisan Advisory Commission on Intergovernmental Relations (ACIR), aimed at reducing the inequalities inherent in the present local property tax system, are summarized. Related documents are EA 002 525 and EA 002 801. (JH)