The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-05-25
TAX.LIsTING LAWS.

elsewhere, Jnefe nave Deen lOud COM
plants that property was not equitably
valued, that in one county one rule was
adopted, and that there was no uniform
execution of the law. To remedy these
complaints, the last Legislature provided
better system of taxation and instructed
the Corporation Commission to superin-
tend the enforcement of the act. When
the Finance Committee first drafted the
bill, there were some objections by the
cotton mill owners, but later on the bill
as adopted was endorsed by the gentle
men authorized to speak for the cotton
mill owners, and is believed by safe Iegis-
lators to be a wise and just measure that
will not work hardship to any man or
corporation that is not seeking to avoid
paying taxes on the true value in money
of their property.
The Corporation Commissioners are not
making tour of the State to defend"
the new revenue act before the people,
as some folk appear to think, but to ex-
plain it to the list-takers that they may
properly discharge the duties it requires
of them.
The Revenue Act constitutes the Corpo-
ration Commission a State Tax Commits
execution of the tax laws, and instruct
list-takers as to their duties under the
act Two methods are prescribed for
doing this: Sending out letter of in
struction to each list taker, that he may
become familiar with the law; and visit
ing each county and explaining the law
when st-taking time arrives, which is
the first of June.
The Commission is doing its best to
discharge both these duties. During the
week now ending they have visited some
fifteen counties and held tax-listers' meet
ings, and book of printed instructions
has been sent out to all tax officers in
the State.
1.-THE end aimed at by the tax laws, :"
says this letter of instruction, SIS to have
all polls and all property subject to taxa
ton placed upon the tax duplicates and to
have all property assessed AT IT'S TRUE
VALUE IN MONEY" Then it proceeds
to tell how this ''true value in money
may be- ascertained. First an effort is
made to impress the tax-lister with the
Importance of his duties and the gravity
of his responsibilities:
ut is easy enough to raise revenue
sufficient to defray the expenses of the
government, but to raise it in such way
that all property shall bear it's proper
Tomato part is a delicate and difficult
task This cannot be accomplished with
out you discharge your duties bravely, in
diligently and wisely.
1T has been claimed that there is a
rule in North Carolina among assessors
and tax listers to Intentionally under
value property, and instead of putting it
on the tax list at its true value in money,
to assess it at two-thirds or three -fourths
of its value. This is a remarkable con-
tention in view of the tax laws that have
existed in North Carolina for the past
| fifteen years; but if such rule ever did
| exist in the State or in any part of it,
! there can be no excuse for it in the flu
ture."
Then the term true value in money,
as used in the Machinery Act, is defined:
1.-The intent and purpose of the tax
! laws of this State is to have all prop
erty and subjects Of taxation fairly as
sessed at the value which would be real
lied therefrom by cash sale, in such man
ner as such property and subjects are
usually sold, but not by forced sale there
Of, and the words market value or true
value when used in the tax laws shall
be held and deemed to mean what the
property and subjects would bring at a
cash sale when sold in such manner as
such property and subjects are usually
sold"
After enumerating the various properties
required to be placed on the tax books
at it's ''true value in money, the Com
missioners in their letter go on to say:
''You are required to place in the tax
list also all property which is exempt
from taxation. This is not required
for the purpose of having exempt proper
| ty placed upon the tax duplicate and
| having the taxes computed against it,
| but for the purpose of gathering Stats
| ties which the Legislature, in it's wisdom
/ saw fit to require and for the further
| purpose of having you to decide, and not
/ the taxpayer, what property is exempt
from taxation by law. You will be aided
/ in this respect by the blanks which have
| been furnished you by the State Auditor
on which taxpayers are required to make
out list of property and polls, and the
blanks which the Auditor has furnished or
which to make out your tax list. Yor
should consider well both of these blank:
in connection with the tax laws You
| have been relieved of the duty of assess
ing any of the property, except the rea
property and tangible personal property
OF almost all of the corporations in tn
State Incorporated under the laws o
/ North Carolina. The duty of assessing
these properties has been given to tn
Auditor. to the State Treasurer, an
to the North Carolina Corporation Com
mission. These officers assess the cap
ital stock and shares of stock in thes
corporations, and you are not requires
to have them list before you; but tn
land and tangible personal propert
owned by such corporations must be list
ed before YOU"