The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-04-03
Assessment of Property and its Effect.

the eyes OF the world.
Assessment Of Property and its Effect.
The assumption that the assessment of
1880 will greatly reduce the taxable
| resources of the State is used as an
argument against an adjustment of the
| State debt upon the present basis of
| taxation. We have frequently referred
to the complicated system, or want OF
system, of taxation in Virginia, for the
purpose of refuting the assertion that the
taxes were comparatively light when viewed
in relation to the taxation in other States.
We have done this, too, to show that the
people were now paying as much taxes as
public policy should ask of them, and as
they are able to pay in Difference to
healthy existence of State autonomy and
used it as an argument to demonstrate the
necessity of REIMBURSEMENT, so as to bring
the annual obligations of the State within
in all discussions, platforms and PROPOSE
tons, that a settlement of the debt contro-
versy upon this basis-that is, the interest
upon the public debt, the expenses of gov
eminent and the support of the public
schools, to be met by the amount Of reve-
nues now levied for and paid-should be
accepted by the people. The material and
paramount point has been to bring all the
expenses of government within the pres
ent revenues-the amount now annually
no Ir-4l n nn,,1a pI1rrI hn
modes of N-gathering-so as to expose no
deficit at the end Of the fiscal year, and
leave the sinking fund to operate in the
reduction Of the principal. That has been
the avowed aim Of all Re-adiusters. 1t has
been the amount Of taxes, and not the
rate of taxation upon the assessed values,
that has constituted the argument of the
Re-adjusters, in their demands upon the
creditors. They have commended that it
was not public policy to legislate SO as to
tases than at present paid. Suppose the
next assessment does show reduction of
values in real and personal property, and
the rate of taxation has to be increased in
order to raise the amount of revenues equal
to that now paid, this would not inflict
upon the Taxpayers any greater burdens
than they are now enduring. We are very
sure that the value of personal property
will be considerably increased. if vigilant
assessment is made, and while in some To-
real estate may occur, that fact will not re-
duce the capacity of the owners to pay the
amount they have heretofore paid. The
mere reduction in the assessed value OF a
farm, does not affect its producing capac-
ity, nor give less annual yield to its pro-
prietor, nor impair his ability to pay the
same amount he paid under higher assess
ment. He would pay under a reduced as
sessment and a higher rate of taxation, |
the same amount he pays under the present |
assessment and present rate of taxation, SO |
that practically, whatever the assessment,
and the agencies which may be employed
to regulate it, no greater amount of taxes
would be paid by the property owner than
is now paid.
We refer to this subject at this time, for
Iue Icdsoh tudt IL VIII HoG pe loHS peAoie
the possible reduction in the assessed value
of lands in the Commonwealth may be used
as an argument against the Debt Bill re-
Gently passed by the Legislature. That law
will not require an increase in the amount
Of taxes now paid, nor in the rate of tax
alton, if the assessment of 1880 shall
correspond to the present assessment. 1t
lccomplishes what the Re-adjusters are
committed to-the reduction of the rate
If interest so as to bring the entire in
crest charge, the expenses of government
md the public schools within the present
evenues, and this having been effected, we +
an see no good reason why they should
lot give it their hearty support.