The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-06-27
4 SHORTAGE In TAX VALUES.
Abduction of Nearly 100000 in the
New Assessment in This County.
lIO the Assessments on Corporations Are Be-
;~ - n-~-:e:.o Amount
img increased 70 nuIsv nrqu'o.v. 1"s
81 Revenue for the County's Expenses.

The county board of Equalization has given
all its time since its first meeting to the consid-
grafton of the assessments OF banks and corpora
lions As it is certain there will tie a shortage
10 the aggregate value of the duplicate the 20
rents limit of the levy stares the County Com
missioners in the face at every suggestion of
how to obtain sufficient revenue to bring the
tounty out next year without deficit. The real
rstate appraisement will, in the sum total be
Iess than that of the six years past,
but great deal of property has been
kept up to the values heretofore assessed.
Material re uction has been made in several sub
divisions in which heretofore the tax value OF
lots was held at 500 or over. Such property,
unimproved, has been brought down to SO and
s40 An accurate estimate of the appraisers can
not be given at this time, but the officers look
for reduction of 81, 0O0.0 600 or 100000. The
general lists of personally, too, show falling
OK, but, perhaps, to no appreciabe extent Ii
the levy could be increased to fifty cents the
commissioners would be satisfied with the
reduced duplicates, but the limit and
reduction place them at their wits ends for re-
sources to meet expenses next year Therefore.
it is expected that the Board o. Equalization
can. to considerable extent, help them out of
the Dilemma whether real or imaginary. That
this board is disposed to do so is evident from
the attention it has given bank property and the
possessions of corporations. Many on the list
have not been considered as yet but it is
thought the work will be completed by Monday
or Tuesday.
The members are very chary in giving out in
formation. They do not want their conclusions
published until the work is entire Oae was
asked if he and his colleagues had reduced the
valuations of this class of property to any ex-
tent 1.-THE reductions" said he. will be imma-
terial. but the additions of some moment to sew
eral companies and banks"
ACan you go into parslcuiarsT
s'Not now. You see we have the lists of sew
eral corporations 20 pass upon, and those we have
looked into and increased will be again consid-
cred. We want the representatives OF these
corporations before US. 1t is only fair to give
them chance to explain why additions should
not be made to the values they have returned.
lt is probable that many of the values we have
approved will again be changed. For this reason
we do not want to give any Definite information
rs to the figures just now"
II can say there will be large net increaseF
eyes; that will necessarily be the result"
While this member of the board retained the
most important part of his knowledge, other
way. Last year the county auditor had bout
with the Hecla Mining Company the plant of
which is in Montana. The company's principal
Offices are in this city, and the auditor thought
Its capital stock should bear tax revenue for
Marion county He gave it a marked value the
best he could obtain and put it on the dupli-
cate for several thousand dollars above what had
been returned as the value OF the companys tax
ables in this county. There WIS protest from
the company, but the valuation was not changed.
-. 81 ,Io mi q atrrr nf
So $50 81 as the value of their property subject
to taxation in this county. This did
not include the capital stock. The
Board of Equalization, now sitting, heard
Of trade in HAcla stock week or so ago. 1t
sold for sixty five cents on the dollar. The
seller was Summoned before the hoard. and he
told the members all about the trade, the past,
present and possible future value OF the stock.
The equalizers took the figures, made calcula-
ton aud raised that small return of So $780, 50 to
&075 600. This, they thought, was about the
sum the Hecla company should be taxed here,
no matter what it paid in Montana.
Another instance, the Nordyke & Marmon
Company has, besides its mandatory and
foundry here, two in Michigan. Last year its
taxable value in this county was about SAC, 600
The board on the theory that the market value
of capital stock should be taxed here, where its
principal Office is, has raised the valuation to
sl75OG0 The company pays on its buildings and
plant in Michigan, besides being taxed for its
capital stock In Marion county.
In 1885 the Citizens Street Railroad Company
returned its valuations for taxes at 81 Goo
The equalizers OF that year increasedit to $3.50.
coo. By some means the company had the in
crease taken off, paid taxes the $l15, 600. and
this year again returned that sum. The present
board has again raised the valuation, this time
TO $40, 600.
return from the Central Union Telephone
Company gives the figures of last years assess
ment SIC, 800, which the auditor brought up to
$50, 000 1t has been placed at $4,000 for the
duplicate of 1886.
The indianapolis Gas Company's total assess
Iaent on the last duplicate was 1888. 420. 1t is
5000 GOO now, the board thinking $146, $50 sufi-
cient increase for the time being While some
returns have not been changed, the board has
made no reductions 1t will meet again. Monday,
10 hear what other property holders will have to
say as to the general scheme of increase of this
alass of personal values.
Conference Of Charities and Correctfon