The Lancaster ledger. [volume] (Lancaster, S.C.) 1852-1905, 1893-12-20
DNE uUNDaBD PER CHNT.
All Glasses OF Property Must be
Taxed at Full Value.
The Comptroller General Gives the
Auditors PLAIN Inst, uctions about
Assessing Property = Making ii Hot
for the TaxpGyers,

Assessing Property Making ii Hot
for the Ta1pGyers.
The State.
The State tax department Is de-
termined to push the matter of as.
sessment of all kinds of property and
collection Of taxes to the fullest ex-
tent the coming year. This is the
year for the assessment of real estate,
and the Comptroller is starting early
to have the property of the people of
the State placed upon the books at
its full value.
The following strong circular bear
Ing upon the subject was issued yes
terday by the Comptroller General,
and speaks for itself 1t is directed to
the various county auditors
DEAR SIR. Returns for taxa>
tion from the 1st of January, 1894,
to the 20 of February must embrace
both real and personal property.
Auditors cannot be too careful in
taking these returns. Returns of
every species of t.xable property
should be secured, and in every case
where the auditor or his assistant has
Ieasons to suspect or believe that
there is any desire or purpose on the
part OF the taxpayer or bis agent to
evade full return of all pro perty,
he should by proper questious and
Investigations briug out all the facts
aud secure fnll. complet, and just
return of all taxable property as re-
quired by law 10 be made.
Great care should be exercised in
the selection aud appointment of the
township board of assessors. None
out olear, fair impartial men of good
sound business judgment and in.
formation should be appointed mem =.
bers OF these boards. If these boards
will exercise discretion and take pain
in getting at and placing on return
every species of taxable property, and
justly equalize, as between individual
taxpayers in their respective town,
ships or tax districts; and the county
boards of equalization, composed of
the chairman Of the township boards.
will exercise the same discreet N, care
and judgment as between townships,
and in all cases Of appeal. the crying
evil of gross inequalities Of assess
ments will disappear and no longer
be heard. Gross inequalities of ss,
sessments do now exist, and the re-
medy is largely i. the hands of audi,
tors in the discharge Of their duties
and in these boards appointed by the
auditors to val ue and equalize assess.
m enls.
There is no law for assessing and
equalizing taxable property upon q
basis of &c 2 per cent, or any other
basis than its true value in money"
Our laws require all taxable propere
ty real, personal and possessorY, to be
placed upon the tax books at the
true value 10 money" Lands worth
$500 $1,000, $4,000. or more, should
be assessed at the value, no more and
no less. Bank stock worth $4,000
above the par value of 800 should
be assessed at $120 per share, and 9TH
ers 10 proportion. Bank stock worth
less than par value should be assessed
at its vslue, and no more. Corpora
tions other than banks, stock of which
is non-,axable, must baye a taxable
interest equal to the real or marke.
value Of its stock, and this market
value of stock will faroish a fair
basis for assessment Of the taxable iu.
terest of such corporations as it may
have in machinery, material, etc. The
productive power of taxable proper
ty, real personal or possessory, is an
important factor in fixing the "true
money value" for taxation. Lands
product & one bale of cotton or TWEEN
ty- fiye bushels of corn and oats per
acre are worth more than those pro-
ducirg oDe>haii these amounts. So
with other Glasses of taxable property.
Values are influenced by incomes de-
rived from such property. The great
sr percentage ofthe burden Of taxa
tion rests now too heavily upon the
less productive properly Of the STATE
and should be remedied.
Personal friendahina naiohhorlu in