Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1880-10-01
Agricultural.

Personal Property EVading Taxation.
Tho following statistical facts, bearing upon
the evasion of taxation on personal property,
have done duty once before but as the sub
ject may be n matter of consideration in the
legislature about to assemble at Montpelier,
we reproduce them here One of many roa-
sons that may be urged against the law which
subjects mortgaged real estate to taxation, and
also the money loaned upon it, is the fact
that only a small part of the personal proper
ty of the State is ever assessed Why should
any species of property be liable to double
taxation, while the payment of taxes on the
larger part of personal property is wholly
evaded? 1t is true the law requires nearly all
personal property not exempt for debt, nor
held in bonds of the United States, or depos-
tied in savings banks to be appraised and set
in tho list for taxes but practically personal
property escapes, leaving the burden OF taxa
ton to be borne 10y real estate.
The deposits in savings banks, by a recent
law of the State, are taxed one-half Of one
per cent, which is about one-thrd the average
amount of State and town taxation. The
whole amount of deposits in savings banks in
this State is about SIS, 600, OOO-n little more
than one-half as much as all tho personal
property appraised and set in tho grand list
Only about Sl5, ZOO, 900 of personal property
was assessed for taxes in 1879, against ST.
600, 600 of real estate. The exemption of the
entire sum of the savings bank deposits, with
other causes, seems to have reduced the APP
praisal of personal property about 81 800, 900.
The true value of all the personal property
of Vermont may be estimated at 800, 900, 600.
There are no statistics from which the amount
can be determined with accuracy yet it is not
altogether matter of conjecture. By the
census of 1870 we have
value OF manufactured products, So, 900
" agricultural 9l,0OO,0O0
Bank deposits and banking capital, 1880,
(estimated), 2O,OOOOOO
These figures indicate an amount of person
al property owned in the State, rather above
than below 800, 600, 900. The value of the
annual product of manufactures and of agri-
culture appears TO be more than half that sum.
BY the census of 1870 the true value of all
the real and personal property of Vermont
was estimate I'd at S235, 600, 600. The appTais-
ed value OF real estate for the same year was
SSl,000,O00. Increasing the appraised value
by GG per cent. for the true value, and deduct
ing the amount from the aggregate of real and
personal estate as estimated by the census,
we have Sl00,OO 600 as the true value of
personal property in Vermont. Although, in
the above estimate, we have added GG per
cent. to the assessed value of real estate for
its true value, in this part of the State many
farms are appraised at more than they would
bring at a forced sale, and frequently farmers
have no real property in more than fraction
of their farms, the mortgage being the true
owner to the extent of his investment there
in.
Placing the figures side by side, we have
True value Of personal property in YER
mont, 800, 900 600
Assessed for taxes, IS 100000
amount assessed, sS,OOOOOO
Same, less deposits in savings banks, tau
cd y Of per cent, 77,00 900
Substantially, all private property in real
Estate is assessed and pays taxes, while more
than five-sixths of the personal property of
the State, excluding that in savings banks is
not assessed, and pays no taxes.