Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-10-27


at three-fourths; five counties show two
thirds valuation, seven three-tifth, four a
five-ninth, three a seyen-twelfth. Thus we
see that only forty-one counties in the State
assess at more than half values, seventeen
assess at half values, five at flve-twelfths.
six at twO-ffths, three at three-eights. nine
at one-third, two at one.foufth, and one at
one-tfth OF the true value. Can these
things be, and no effort made 10 control
them?
After the Apalanche has digested the
above plain statement of the control
welded by the Comptroller over the
matter Of assessments we commend to
it the following extracts from the same
pamphlet of Representative William
son:
The late UNITED StatesJ census reports
furnish us starting point, and present the
best, in fact the only evidence of an official
and public nature, and so far as this eTi-
dente goes, We find a vast and extensive
field for study aud reflection. = The
census reports give the true value of real
and personal property in the State at
S49o, 237,7zs. This is good authority.
The same reports show 1851 PA acres of
land in farms, valued at S2IS, ,747,
which is SILT per acre-
In this connection it should be remarked
that all Of the States assess at values vastly
below the true worth Of property. -
Since 1870, however, some of the States
have greatly increased in assessed values.
Especial attention is called to the
States Of California and Michigan, which
are nearly up to full values. Illinois, in
stead of assessing at less than ! the value,
now standsat At. Indiana and Ohio have
risen from half values to about three
fourths, leaving three States in the list
with Tennessee at half valuation, and
five at less than half. .
Standing then, as our State does, nine in
population, seven in farm lands, ten in
farm lands improved, with the favorable
showing that has been made as TO her pro-
auctions, etc, etc., and seven in state in
debtedness, in assessed values she ought to
be seventh instead of seventeenth, as she
now is. The following States, according to
the census reports and late assessments,
would still exceed her in values viz: New
York, Massachusetts, Pennsylvania, Ohio,
Illinois, Indiana, California, New
jersey, Missouri and Michigan. Connecticut,
Kentucky, Maryland, Iowa and Wisconsin,
are set down in the census reports in adj
dition TO the ten just enumerated as having
more wealth than Tennessee, but if these
last named States still choose 10 linger in
the list of low valuations, their example
need not be followed by Tennessee, or be
quoted against raise in our valuations, if
any benefit can be shown to result from an
increase in assessed values. The first
question to be considered is, have we tax
able property in The State to the amount of
$500 100000?
Does any person doubt it?
Our assessment reports show $4,000, 600
acres in the State, and il has been stated
that there are 29,000, 900 of acres that ought
to be assessed. These 25,000,OO0 acres are
only assessed at S1S5, 1SS, 179, which makes
an average of about $40 per acre. 1t is
generally conceded that real property in
Tennessee Is assessed at about One-half of
its true value.
We therefore make the following esti-
mate, that should at least be reached for
taxation: o. the SIS, 900, farming i'm
plements and machinery and live stock,
S40,000.000; Of the SI5,0O0,000 invested in
manufacturing, S10,O00,O0O; capital of mer-
chants. 81, 100000; banks and insurance
stocks, SS,0OO,00O; and other taxable
property, at least Sl7,000OO0. This
makes the amount of Sl00,000,0O0 |
personal property, after allowing exemp-
tons, and with the real estate values,
the Sj00,000,O00 of taxable property in the
State that should be shown Oh the tax
books.
The estimate made of values, viz: $780, |
100000 from lands, SlO0,OO0OO0 from town |
lots, and Sl0O,OOO,UOO from personal prop
erty requires only $50 of every SIOO of tax
able property. This-is warranted by the |
assessment returns of nearly every State in |
the Union. There are but TWO States I'M
der S20-VermoHt and TennesSee-while |
the average of all the States is about $50 |
of personality TO so of real estate.
There can be no doubt Of there being |
S50O,O00,OOO taxable property in the State.
As Mr.. Williamson is candidate for |
reelection to the Legislature from |
Shelby, on the ticket recently put forth |
against the Democratic nominees, and |
which the AudlaNche rather favors, we
will close with the following extract |
from his pamphlet, page SO:
Al hclip uios NdoLNllits dllA 'ttlel Ct4c> |
and towns were prohibited from leyying a |
tax on property exceeding one per cent, |
they would find the remedy, from necessi- |
ty, 10 be to raise the assessments from half |
TO full values. If the Constitution Of our |
State prohibited a levy exceeding forty |
cents for State purposes, and exceeding six
ty cents for all county purposes, State and |
counties would assess at fun values; the |
State would adopt reformatory measures at
once, and perfect its revenue svtem.