Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1901-09-18
ADDS MATERIALLY TO TAXABLE PRO-
pERTY.

pERTY.
Chairman Bradley, of tho State Board
of Equalization, in talking of the official
action OF tho State Board, was asked
What will bo tho effect of tho law
equalizing the assessment of cotton
mills, oil mills and fertilizer companiesP P'
He said : "The immediate effect is the
addition of $1,403,071 of the taxable
property to the tax books of cotton mills
alone. l think, however, that the most
important result of tho law is found in
THO fact that it reveals tho great Unequal
lty of assessment as botwoen counties.
The assessment of cotton mills, cotton
oil mills, etc., clearly reflects the condi-
tlons as to all othor property in tho seve-
raj counties, and discloscs hut too plainly
the fact that in some counties property is
assessed much lower than in others, and
that in all the counties the assessment is
far below market value--,ho basis fixed
by law.''
"Why did the board fix 60 por cont of
the market value Of stock rs tho basis of
taxation ?''
sit was thought by the board that this
amount was fair average as compared
with tho assessment of other property,
varying from 45 por cent to 80 per cont,
as l am Informed by individual NOM
bers."
VIII ohio pIcscnG per conC oasis nave
tendency to reduce tho assessment on
real estate and personal property p'
"I think not. All property is reasses-
scd next year, and now that we know
and have proclaimed tho fact that pro
perty is assessed ridiculously low, 1 be-
lieve an effort will be made to place all
property. neal the market valuo. This
will work no hardship on the Taxpayers,
as sd,ac Increasing tho value Of property will
DO you think tho law can bo improved
in any particular ?''
YES, [ think it should include all
manufacturing establishments, banking
corporations, and, in fact, all tho porso,
nal and real property in tho State. l be-
lieve as rule that money or credits, as
the case may DO, bear less of the burden
OF taxation than any other class of pro-
pcrty, and this is most applicable to the
private money-lcndcrs. may add that
poor land is assessed at nearer it's mar
ket value than in any othcr class of pro-
pcrty; in fact in many instances it is as.
scssed at 100 cents on tho dollar"
"How 40 you think tho mill mon view
tho law 2''
Judging from what thoy havo said
6oiore our board, in person and by letter,
property on parity with other property
of the State and will accept general adj
vance all along the line"
Does the present per cent basis, fixed
Dy the board for this meeting, hold good
for subsequent sessions of tho board 2''
No, and it is perhaps better that it
should not. AS pointed out by Col. Orr,
1t would DO possible for somc corpora
tions to SO manipulate sales of stock as to
reduce their assessment worry much be-
low tho true market value; this, say, is
possible while complying with tho law
IN making returns, etc.
I'm this connection l may add that
North Carolina proceeds in tho same
manner that we have done to arrive at
the value of tho plant, and thoy assess
tho cotton mills at 80 por cont of this
amount. This was brought out at our
meeting yesterday, when Mr.. C. w. John
son, of Charlotte, representing mill at
that place and one at Rock Hill, S. c.,
madc statement to tho board"
MORE THOROUGH NEXT YEAR.
Tho work Of the board mt this sessi on
was worry much mpcdcd, owing to the
fact that the law is n now one, and tho
Comptroller General found it impossibl
in the short space of time allowed him to