The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-05-25

that the time for fixing o levy should be
held as merely directory. and that the act
of making the levy should be somewhat de-
pendent upon the performance OF other
If q board of review should be so delayed in
completing the work imposed upon them
by statute that the levy fixed should be
somewhat later than that prescribed by
law the act thus performed would not be
held void. There has been o general i'm
preston over the State that the assessment
for 1891 would show q great increase over
those heretofore made. The law IL un-
changed and gives no excuse for the slight
est advance over honest valuations of
every sense . fair cash value. and If dis
torted by tax officers into a different mean
ing cannot be charged to any change In the
law itself. One of the principal causes for
q revision of the tax law arose from a pub-
lie demand for q fair and fuller valuation
of corporate property. This idea has been
emphasized in the creation of the Board of
State Tax Commissioners, and In requiring
with that distinctness not heretofore en-
ployed that all stocks and other property
held by aggregated capital, including fran
chises, should be assessed at their full
value. Before any levy is made il is con-
temDlated by the Low that the several
boards of review In the different counties
of the State should vigilantly m faith
fully inspect the lists returned by township
and county assessors."
Local tax officers, it was further stated.
should take care that the leyies Tor mu-
niciDal purposes do not exceed the amount
required to defray The necessary expenses
of their local governments when honestly
and economically administered. ANY as
Of the peoples property beyond q
just and honest valuation, or any levy be-
yond the needs of government. would be
lnequitable, If not dishonest. and would be
in violation of the spirit and intent OF the
tax law. "Itshould be well borne In mind"
the Attorney general continued. that by
deferring the levies until the several boards
of review have performed their labors. and
the mount of school fund to be app0r-
toned from the State has been ascertained.
the local levy can be SO made as to take
advantage of any possible increase in reve-
nues coming from that source. Local
levies, in many instances. may be reduced.
n especially so when the sum usually
realized from the State has been enhanced
by the readjustment of property values.
Indeed. local levies for school purposes
may. in many instances. be entirely DIS
ministered many millions of dollars will be
added to the tax duplicate owing to the
assessment of franchises and other intangi-
BILE property of corporations which have
heretofore entirely escaped taxation. The
creation of the Board of State Tax Com
missiOners was almost solely due to the
demand for q readjustment of the values
upon corporate property. My conclusion,
therefore. is that no levy should be made
until after the work OF the board of re-
view has been SO completed as TO be avail
able In guiding the proper authorities III
fixing an equitable and necessary rate OF
taxation. The Importance of this delay
and the care which should be exercised In
fixing levies cannot be overestimated."