The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1900-12-31


above them as IL has bsen In previous
valuations. The local assessors have
affixed values to property nearer full
market value than heretofore, and thus
the valuations, made by the boards OF
the nitles and towns and the valuations
OF the local assessors are brought nearer
together. The total amount Of the state
valuation as made BY the hoard Is
se8s, ,699, $40, showing an Increase OF 81
1888, 405 over the state valuation OF 1878.
This increase includes the increased val
uation of cities and towns. Si,2i5,Sa4; Of
wild lands. s2,sss, bs7; and OF timber and
grass on public lands, $40, 4Ss. Il an
pears from the returns that the amount
of exempted property is sl,655,s50 re.
ductlon since 1898 OF sos. .sl6. The board
adds all exempted property to the valu-
alton OF cities and towns ana state and
county taxss are assessed on this In
crease.
"The chief classes of personal property
that escape taxation are promissory notes,
bonds and stocks. Electric light COM
pany stock Is assessed on x72i ,775; water
companies stock on sba6, G35; gas COM
panies' stock, on s3l6. 100; other compa-
MES stock, $500, willis railroad
bonds are taxed only on $62. .240, and
other bonds on SIS ,220. Yet the bonds
Issued by the steam railroad companies
and the electric railway companies
amount to si0.0p0, eco. Then, In addition,
are state, county and municipal bonds
and the bonds OF water and electric light
companies and other corporations. This
Is practical exemption of q very large
amount OF personal property and other
property has to pay more than It's pro-
portiouate part Of the taxes. This un-
equal taxation causes discomfort and
complaint. The local assessors, appar-
entity, do not get fun and accurate
Information as to the pulp and paper
mills, cotton and woolen mills and other
corporations, and In many cases do not
assess these corporations at full market
value. If the annual statement Of thess
corporations made to their stockholders
were also furnished to the local asses
sors, they would be able to value the
property more accurately. Returns like
those required from railroad companies
would give the desired information.
While the present laws and conditions
remain 1t is not probable that the local
assessors will reach aud tax the property
that now escapes taxation. That these
conditions should be changed 90 that 30
large an amount OF property should no
| longer be practically exempt, seems very
clear.
Nuh Nua Ia Uo
that equal taxation can only be accom-
| plished by adequate and just laws and
the fearless discharge by the assessors
Of their duty and that the state assessors
are unable to equalize these dispropor.
tionate valuations except partially, and
this equalization applies only TO the
state tax which is only seventh part
OF the local tax on the average. The un-
equal burden of taxation is mainly In
the local taxes and every town has the
power 10 some extsnt o rectlfy the con-
ditions, and hence itj responsibility.
The valuations of small towns have been
decreased by the board, wills the cities
and larger towns, especially those In
which are local industries furnish the
increase.
"The twenty cities of the state show
a net gain In property of S2,4ss,7ts. OF
the sixtsen counties, twelve show a
t9tsl increase OF "a, $50, ,254, and four show
decrease OF s4B1.91O. Cities, towns and
plantations as whole are valued z 62
per cent above the returns for 1900; Wild
lands are valued 1918 per cent above
values for 1898; and timber and grass
10 35 per cent, Twenty oities have in
creased In valuation above 1898, S2, 49,.
| 70S. Thh ty seven towns above 81 QUO, 600
valuation have increased 81, ,443.4 .4!3. Fiji
ty-thres towns from $500 0OJ to 81, ,O0O, 90
valuation, ss00, ,o93. The decreaEe in val
uat,on of the remaining SSj towns and
20 plantations is S459, 7l0. Thus it ap-
pears tnat the stits has made good In
GREASE while the small towns have besn
reduced In valuation nearly $500, ,0J0.
We desire to thank the local assessors
for their attention TO our suggestions
and their ready and constant co-opsra-
tion."
The report contains schedules OF all
the corporations upon which ct ITS taxes
were assessed during the present year,
embracing savings banks, railroad COM
panies. telephone and telegraph compa-
MES, loan and building associations and
express companies; also valuation of va
rious CLASSES of property as returned.
In closing, the assessors say; ''rhese
returns show that tine state has made a
healthy and substantial growth In prop
erty that that it's great natural resources
are being utilized more and more each
year. Manufacturing is contributing
largely to the property of the state. and
the people can rejoice that 1t 10 increas-
ing in extent and variety all the time.
Prosperity is with them and will abide. -