The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-01-30
HOW TENNESSEE DOES IT.

Under the new assessment of railroad
property in North Carolina, the railroads
will pay in round numbers taxes aggre-
eating $4,000 per annum. This includes
all the taxes for State counties. towns.
roads, schools, &C.. and is $1,000 per an
num more than has heretofore been paid.
The roads will pay 100000 cash down,
and the costs of the suits. exclusive OF
lawyers fees. as the back taxes due for
1899 and 1900.
For two years. in the face of the fact
that the railroad property is, under the
new assessment, assessed for taxation at
less than half the sum it would bring at
cash sale Chased upon actual transac-
tions), the State has had to fight at heavy
cost every inch of the ground to compel
the payment of the moderate increase in
the assessment. The railroads had Judge
Simonton behind them all the time and
the State has known that it did not have
a fair chance, but its attorneys have
managed the States case with consum-
mate ability. The policy that forced the
railroads finally to yield was the an
nouncement that they must show under
oath and by the production of books, the
true value of the railroads. The railroad
officers knew that such evidence would
disclose the fact that their property was
assessed for valuation at figures much
lower in comparison than any private
property They then agreed to pay on the
$42, 900, 900 assessment. after the Morning
Post (Southern Railroad organ) had beer
saying for months that the assessment
was too high and had been made too higl
| because of the clamor of demagogues.
The best evidence that the State OF
North Carolina does not assess the rail
road property too highland not high
enough)--is to be found in the fact that
Tennessee, with 500 fewer miles, derives
almost twice as much tax from railroad
l
under the new assessment. the STATE
Treasury will receive from the railroads
about $40, 600 per year. In Tennessee, thc
State Treasury gets over $500, 900 per an
num- From the latest report of the Rail-
road Commission OF Tennessee, page 10
| we take the following:
l ssr-l.o +o;t,
utable property of railroads within the
State of Tennessee was placed by the
present Board for the years 1899 and 190t
at the sum OF 52,943, 49444 the aggre
gate value of localized property for sait
railroads at the sum of $2.352. 1850, ant
| the aggregate value of all the telephone
and telegraph lines within the State a
the sum of 81 $50. 15620.
| Under the rate of taxation as Levied
| for the years 1899 and 1900 the railroads
| paid to the State the sum of S201 ,4107
| per annum; TO the counties through. which
| they run the enormous sum of $474, HATS
and to the municipalities the further sun
of $73, 40 making grand total tax paiC
| by the railroads within the State per an
| mum for 1899 and 1900 the sum Of S749.
| 007.90 The average annual assessmen
per mile for the years 1899 and 1900 upoI
all the railroads of the State is $1S, 761.S1
and the taxes as levied by the State
counties, and municipalities and paid b.
| these railroads to the State, counties, an'
| municipalities in round numbers is abou
| $500, 900 more than was ever paid befor'
under any assessment made by any othe
| assessing board in Tennessee. Under thi
| assessment the amount of tax payable t
/ Tennessee per annum by these corpora
/ lions is about one-fifth of the amount o
| State tax payable into the State treasur.
| from all other assessable property in tn
| State aggregated, after deducting the us
| ual costs for collecting"