The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-08-28
STATE TAX RATE.
The Governor and Controller GEN.
eral Fix the Amount

Atlanta, Ga. Aug. y. - Governor
NorJhen ard Controller General Wright
to-day fixed the state tax rate for the
present year at 37-lOO Of per cent.
This is 24-1OO of a mill less than last
years rate. or about 25 cents
less on $1,000. OF the total levy
of 437 mills 293 is for gen
eral purposes, and / a for the school
fund. Last year the levy was made 4. 81
by the collection of "a Of a mill for the
sinking fund of 100000 This year. how
ever, there is no tax collected for the
sinking fund, and behind this fact there
is what appears 10 be a blot of negligence
on the record of the last legislature.
The constitution provides for the rails
ing Of a sinking fund Of 500, 600 each
year TO pay of maturing bonds. Carrying
out this plan. as contemplated by the
constitution, the bonded Indebtedness of
the state, which was Ss,0OO0O0 at the
time the constitution was adopted in lS11,
would be wiped out in - years. The fund
has been provided each year regularly
until this year This is brought about
by the failure Of the legislature 10 make
any provision for the collection OF the
sinking fund tax. The tax act and appro-
priation bills, as they passed the House
two years ago, covered only one year
When they got into the Senate that body
amended the tax bills which provided
for the general fund and the school
fund, so that they would cover
a period Of two years. but neglected 10 eX-
tend the bill providing for the sinking
fund; in this way the bills slipped
through Last year the sinking fund was
collected all right. but the bill only COW
cred the one year, and consequently no
levy for that purpose could be made this
year.
The legislature at its approaching ses-
sion will have TO provide against this
oversight by the last assembly, which
makes it highly probable that the tax
rate next year will be considerably higher
than it has been III some years, especially
as there will be a deficiency of $4,000
in the income of the state this year
owing to the falling off in values. which
is S25, 000, 900 this year, and $4,000 OOOlast
year This $4,000 deficiency this year
will have 10 be raised next year in addi-
ton TO the double levy for the sinking
fund
The only way a heavy increase in the
rate next year can be avoided, will be TO
scale the appropriations. Gov. Northen
in discussing the deficiency to-day said
he did not anticipate any embarrassment.
The treasury is well supplied with funds,
he said, and although the difference of
$4,000 between the money available and
the years appropriation must eventually
be made up the governor says there will
be funds in the treasury to meet all APP
preparations until the legislature meets.
In case of an emergency the governor
could borrow as much as much as S20O, 900,
which is allowed by the constitution, but
owing to the short time intervening until
the legislature meets, he will not
have TO resort to this means
of raising funds to meet bills. In
discussing the sinking fund. Gov. Nor
then said it happens that there are no
bonds maturing this year, and the failure
to collect that fund is no embarrassment
to anybody, 1t is, rather, fortunate oc-
currence to the people because il light
ems the burden Of taxation at a time
when the people need relief.