The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1899-09-05
TAXATION.

The objectof the assessor Of property
for taxation should be to ascertain as
nearly as possible what the piece OF
property would bring If placed upon
the market in the usual way, or forced
upon sale at auction in such quantities
and under such conditions as r usual
in the community where such property
is located. These points having been
properly settled after due inquiry, the
figures should be the proper assessed
valuation Of all or any species OF prop
erty. In brief, the object is to ascer-
tain as nearly as possible the cash
worth OF such property. This will re-
quire skill, experience and q discrim-
mating judgment, hence the very best
and truest men should be selected as
assessors, and their work, after fin
isned accorning to their best judgment,
should be reviewed and every man
should have a. opportunity to state
his obi =ctions to the valuation Of his
property, which should be heard and
considered by the proper tribunal with
power TO make changes II deemed
proper to do 80, within limited time.
A ten dollar bill or gold esgle should
be taxed as $40, and any share of suck,
Or any bond, or note, or mortgage that
is absolutely good and will sell at par,
below par or above par, should be
listed at what it will bring on the mar
ket either at auction or private sale, In
such quantities as such bonds, stocks,
notes, etc., ere usually offered upon
the market, OF sold in that community.
The Object being TO ascertain as nearly
IA possible the amount in money any
property will tell for. Back stocks.
railroad stocks, and bonds, or any like
property whish is 9 Iosed in the Ex-
change reports Or otherwise have q
known value within a small per cent.
should be listed by the assessors at
prices quoted in the Stock Exchange,
and taxes should be counted on this
valuation. Anyone with the smallest
degree Of discriminating Judgment
ought to be able to distinguish be
tween different classes of property, for
instance while stocks, bonds, and
mortgages have a known actual or
market value, in money, old house
hold, kitchen furniture, farm nipple
ments and tools, and even houses have
not a certain valuation, or in other
words the actual cash value or what
they would bring is not 80 well kno WI.
81 re the discriminating Judgment
must be exercised, to do justice by the
owner and TO the State Estimates
and Deductions, based upon previous
sales of such property, must be made
from the best obtainable data in order
to hnd the price such property has
been bringing-a fair estimate Of what
it ig worth, should be adopted by
the assessors, and should be the as
sessed valua ion OF any such property.
The dollar being the legal standard
OF value, the dollar should pay it's pro,
portion Of taxes, and any piece of
property that in the judgment of the
sworn assessors will bring a dollar
should bear the same proportion of
taxes. If a share of stock in a bank
will bring SIS, it should be taxed on
G75. or il $3.50, then it should pay the
same rate on $50, and if worth par
Rhould not be let off at less than
s66 Sc. That Is an Injustice to the
honest taxpayer who pays on his
property at it's true value. There
is, there a be, no fair adjustment of
taxation OF property except upon the
basis OF ar advalorem tax, and each
dollar, or dollars worth at actual value
paying its just ratio or proportion of
the public burden.
J. w. DENMARK