The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-12-21

per cent on the tax value. They Will
pay more this year, but some years they
pay less. 1 know in lending money only
about half or three -fourths of the tax
value of the property is advanced and
often at the sale the property doesn t
bring enough to pay the claim
Asked on cross examination by Captain
Price what his house and lot were worth.
Mr. Holt said he thought it now worth
81, 500, but in 1899, when the assessment
was made, it was worth only 81, 900 and it
was assessed for that amount
The witness was questioned as to the
lands of MIR. B. A. Jones ar / Mr.. c. Rad
ford, two of the asses as of Johnston
county. He thought the property of both
assessed too low.
Captain Price: did you ever say you
thought it a shame that Radford's place
was valued so low, and he taxpayer
and assessor?'
Eyes. l said that"
Mr. Holt was asked in regard to GER
tain lands he had bought and sold again
at an advanced price.
Il bought for cash." he explained, land
| sold on time. Lands sell from 40 to so
per cent higher on time than for cash."
But you've got to pay for the land,
haven't you?"
mot yet"
Colonel Hinsdale: "You say land has
advanced so per cent in price since 1899,
what caused it,"
Mr.. Holt: ''The increased price of cot.
ton. That has had wonderful effect,
creating a demand for land not known
before in Johnston in twenty years. Also
in Smithfield the value of property has
10 g
ton factory, establishment of bank and
opening of tobacco market there
What is North Carolina Railroad stock
worth?'
about SLIGO"
Sheriff Ellington's testimony was much
to the same effect. He had never heard
OF any rule of assessment other than that
of fixing the actual cash value. He went
particularly into the price of land in his
county. He said:
From along about 1890 or 1891 there
were no sales of land in Johnston to
amount to anything, except on long time
and even then the price brought was very
low. | have, even now, piece of land
I'm trying to sell as administrator, and
though l have advertised it four times
have never had more than $500 offered
lOT IT, IL Is dSSSSS9u at 9f0U.
In reply to question from Mr.. Pou,
the witness said:
Taken altogether, the taxation value
of land in my county is very near the
cash value; some is below it's value and
some is above, but on an average it is
very near the true cash value.'
On cross examination by Captain Price.
the witness was asked in regard to the
1Vtaf ion Of m
said
Mr.. Jones is a very prudent sort OF
man and loves money the best you ever
saw in your life. He bought / 1000 acres
when land was low for $4,000. Now it is
worth $1,000"
This land is said to be assessed at
Sc. OC0
Sheriff Ellington said he thought land
worth 40 per cent more now than it was
in 1899
The next witness, AIR. c. L. Lemay, tes-
tilted as to the true CASH value rule of
assessment, and said that he had never
heard of any other. Once he was tax
lister and that was the rule then fol-
loved
The last witness was Col. John A. Mar
ron, county attorney for Johnston county.
Dol. Maroon came to the point at once
" testifying that when the assessors
''ere about to enter upon the discharge
of their duties he, for the commissioners
and IN their presence, had instructed the
assessors that under the law they were
compelled to assess property at what
they considered it's true cash value. He
believed this had generally been done
The Colonel said he had been an asses
sor himself in 1889 and that was the basis
on which he and his associates at that
time made their assessment.
At this point court adjourned to meet
again this morning at $50 o'clock.