The courier. (Lincoln, Neb.) 1894-1903, 1897-01-09

requires, i'm my opinion. the collection of
revenues sufficient to promptly meet cx-
penditures necessary to be made In the
conduct of the states business. Any
other plan Ultimately works increased
hardship and renders excCs sive the ex-
penses of state government, because Of
the uncertainty respecting the satisfac-
ton OF the obligations created. The very
fact that property Is assessed at so
much less than its true value. renders II
very probable that great inequality ex-
lists I'm distributing the burdens OF taxa
ton. The man of moderate means ~
doubtless assessed for much rearor the
true value of his property than the In
dividual having large property inter
ests, and, while the approximate per-
centage of the assessed valuation. as
compared with the actual valuation of
property. Is but little less than one
eighth, II is more than probable that
the taxpayer with small means and
whose property Is easily ascertained.
pays much nearer one-third OF its value
while other large property interests es-
cape with an assessed valuation at
nearer one-tenth or one-twelfth of its
actual value.
Our law provides that personal prop
erty shall be assessed at It's fair cash
value. and real estate other than lease
hold estates. lat its fair value. estima-
ted at the price ii would bring at a
voluntary sale "a - =. -. one third
cash and a balance secured by mort
gage upon the property" This. as
every one knows. Is not done. but on the
contrary the less value placed on tn.
property for assessment purposes by the
officer having in charge of this branch
of business seems to render him much
more popular than IL he had performed
his full duty and assessed the property
as the law provides. Just how this
state of affairs can be remedied and
what provisions, IL any. shall be NJ ade
looking towards a more stringent en-
forcement of the law as now existing
or a revision thereof. is for you to de-
termine. II property be assessed at too
low valuation, the rate of the tax
levy is correspOndingly increased. The
system of low valuation and high
levies creates an erroneous impression
in the minds or many regarding the
property values and the seemingly
heavy burdens Of taxation in the state.
An assessment upon property at its
fair valuation would render tax levies
small. as well as give less
for differentiation, be-
cause Of the more fixed and certain
standard obtaining. the one and only
question being, whether the property
has been assessed at fair value. IL is
doubtless that a constant and contin-
ued decrease in assessment values has
in ha
Ity or county might not be compelled
to contribute more than it's just pro-
portion TO the states revenues. Thus
a canstant struggle is continually 60
ng on among assessing officers to value
their property as low or lower than the
placed by any others. 1t is
also quite apparent that the low as
;essment of property is some protection
10 the people in order to prevent eN-
in the conduct of the bust
ness of disbursing the public revenu s.
With low assessment and limits as to
he rates Of the levy. the people have
some protection against wanton Cx-
iravagance by those who are charged
with the duties of managing the peo-
pies business in different capacities.
where the disbursement Of revenues
forms an important part of their du-
ties. In investigating this subject, 4
have secured a great deal Of valuable
from other states. which 1
will take pleasure in placing at the dis
Dosal of this body or any committees
which you may select TO consider this
important subject.
/ also. in this connection. desire u
all your attention to the provisions Of
aw respecting the method Of levying
md equalizing the value of property
assessed for the purpose of raising rev
,nues for state expenditures. The law
provides that the governor. state audi
or of public accounts and treasurer
shall constitute the state board Of
EQUALIZATION - -" - and IL shall b.