The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1870-08-26


not go behind the schedule furnished |
by the property holder, whatever they
may think Of its correctness. Practl-
cally, Personal Property is never given
in at more than one-third. or one-halt
its value, at the outside. we
state fact known to every taxpayer
who has taken the pains to look over
the assessors returns. We are conf
dent that more than one-half the per-
sonal property owned and held IN the
CITY escapes taxation. The real es-
state. on the other hand, is at the
mercy of the City Council. Inc
bouses and lots cannot hide nor can
thew run away. Their owners
are not permitted to assess their
value-"for the purpose Of taxation,
even upon oath. Now let US exam
inc the practical working of the new
theory of taxation introduced by the
nresent Council. A and B each own
s.. 900 worth of property. A is known
as q liberal liver. He has his money
invested in fine horses and bugyies,
gold watches, diamond rings, &c, with
a reserve in cash for speculative
purposes. B, laboring man, with
growing family. has his sur
plus earnings invested in house and
lot. which he is endeavoring to i'm
prove and by its improvement add to
the beauty and importance of the city.
The Assessor calls upon A for list
of taxables, and he gives in his $4,000
worth Of personal property at 81 300.
and thereby gains the credit of being
unusually conscientious. The Coun
Gil, in the meantime. appraises BIS
little homestead at Its full value
$4,000. The rate of taxation is fixed
at II per cent. The result is, A pays
$37 80, and B SO Door double AS.
by virtue of having his money invested
In real estate instead of fancy horses
and jewelry. One would think this
inequality was sufficient for all prac.
teal purposes.
But now comes the Van Ripper
Council, with their new theory of
taxation-G reduction of the rate By
an increase of the Ualuatioa. As AS
property is beyond their reach, it
again appears on the duplicate at
$500. But BIS house is raised from
s.. 900 to 81. 500. or fifty per cent. The
rate of taxation is reduced, we will
say, from one and half to one per
cent. Now how does it work? Why,
A, on his $1,000, representing $1,000.
pays only $25, while B. on his 81. 500
valuation representing $4,000, pays
$75, or thrice what A pays. Does it
not strike every sensible man that no.
body can afford to hold real estate
with such unjust determinations
against it?
This new policy of taxation, besides
being unjust, is ruinous to the growth
Of the city. A city is always estima-
ted by the appearance of its real es-
tate and improvements. The rule
never varies. Strangers are favorably
or unfavorably impressed as they be-
hold fine buildings or shabby and
cheap houses. Now, what capitalist
will be so insane as to erect ten or
twenty thousand dollar building,
when he can make FIVE or ten thou
sand dollar edifce answer his pur-
pose, if the system of taxing real es.
tate fifty per cent. more than it is ac-
tually worth, is to be inaugurated and
become the rule? This is a practical
matter for the consideration of tax
payers.
We regard the re-appraisement of
real estate by the present council as q
direct blow at the prosperity of the
city. Unless it is diverted or changed,
our mechanics will find that some of
them. at least, had better begin to look
for homes in city where a more sem
sible system of taxation prevails. |
We can assure them that hereafter |
only a cheap order of houses, and not |
a great number of them, will be
erected. once it is understood that |
money so invested is to be taxed 70 |
per cent. higher than when invested |
in any other species of property.