The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-08-15
10 THE CITY COUNCIL.

Referring again to the tax matter IHE
HERALD warns the city council that II 1t
persists in collecting from the people In
taxes tie exorbitant sum that has been
levied the city vii, certainly suffer a loss
aggregating a sum ten times the amount in
volred. This is not party matter 1t has
nothing whatever to do with party politics
The question is simply one of business pure
and simple. The average man who comes
here TO invest capital doesn't care whether
the tax collector, the policemen and the dog
peter are Liberals or members OF TIE
Peoples party; but he does care
whether his taxes are high or low.
Before he buys lot or home he asks con-
corning the tax rate and the valuation; he
inquiries about rents, and then makes cal
culation to ascertain if the purchase will
be profitable III financial sense. Ii he
discovers that he cannot make interest on
his investment he will simply not buy, and
the city viii lose the money that he other
wise would have spent here. We all know
that a good many old-time residents are
going outside the city limits. Scores OF
houses are being erected beyond the mu-
nieipal borders by parties who would pre-
fer to live within the corporation lines.
The high taxes are driving them
out. They cannot afford to own property
which is taxed so heavily that it cannot be
made to yield enough TO satisfy the collec-
tors. Poor people generally will lake their
departure to the country, the transporta-
ton to and from their work in town
amounting to less than their taxes.
There are business men in the council,
and they know that what we say here is
true. They know that the outrageous taxes
improving city property and will drive
other hundreds out of town TO live. They
know that the $50 per cent, tax increase
will put S2l7, 900 into the municipal treas
ury, and will cheat Salt Lake city out Of
ten times that sum this very year.
Last winter capitalist from neighbor
ing state came to Salt Lake, and looking
over the field concluded that this would be-
a good place in which TO invest some
money. Real estate was then high, but he
reasoned that it would increase in price in
the course of a year or two, the increase
amounting to good interest on his money
He brought in morethan hundred thou
sand dollars, all of which he invested il
real estate. Converslng in TIE HERALI
Office on the subject at the time, he said BIZ
did not consider that he was taking mucl
risk, although for some of the lots ht
bought he had paid two or three time:
what they had been sold for year before
He had inquired concerning the assess
= hot lat axy
said that if he had to holt
the property two or three years b,
would get reasonable interest OF
his money above the taxes. The othel
day the same gentleman was in this Office
and herecalled the conversation of last win
ter. He had received tax notices from tn,
county collector, show-6g that the take
have been increased on IL his purchase
from 300 10 400 per cent, and he was ex
pecting notices from the city collecto
showing similar or greater increase. H
was simply Disguised, and said that Will
he regarded his properties as being wort
all he had paid for them, he was bound t
run behind this year, as the rents would n
more than pay the taxes, leaving him al
solutely nothing for the use of more tha
one hundred thousand dollars during tn
year This man has more money, but he say
he will not put it in Salt Lake realty ur
til he can see his way to get returns fror
his investment; in other words, that he wi
not give the public for nothing the use G
his money.
This is but one instance. whereas Their
must be many such, which illustrates tn
evil effects of the extraordinary and IN
called for increase of taxes. If the council
is wise, and has desire to help Sal
Lake. as the newspapers. the chamber {
commerce, the real estate exchange sn
others are DESTROYS of helping the city,
will not insist upon the unreasonable ia
this year, but will reduce the rate in DR.,
portion as the valuation has been increase,
and will thus encourage investment by on
siders by maintaining the reputation of til
city for low taxes.