The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-02-02
SPIRIT OF THE PRESS.
TAxATIoN-THE WILLARD BILL


Statesville Mascot
The great question before the leglsia-
ture is how to raise enough enough money
to meet the pressing needs of the state
and yet not increase the tax rate. a
number of bills on the subject have been
introduced, but 1t strikes us that VIII
lard's BILL a synopsis of which is given
in another column, is one of the most sem
sible ones yet presented. 1t makes the
corporation commission also a board OF
State tax commissioners, and endoWs
them with the duty of seeing that ali
property, both real and personal but es-
pecially personal, is put on the tax list
at fair valuations. The intrOducer be-
iieves the valuation of personal property
listed for taxation would be doubled by
it. The law is modelled after a Michigan
statute under which during the first year
the valuation of property was increased
from $145, 900 to 1910. 900, 900. A some
what similar law is in effect in Chicago
and in an able article in the Saturday
Evening Post, the following testimony TO
it's success is given: Under the old
method of assessment, the total valuation
of Cook county was but $21 ,000 900 for per-
sonal property, and 1857 100000 for real
estate. AS result of the first years as
sessment under the new law, the personal
property valuation was increased to $73,-
000, 900 and the real estate to 1902, 900, 900. "
1t will be noted that the combined in
crease is nearly 5000 600, 600. Cook county,
in which Chicago is situated, has board
of assessors composed of five members,
- l.,.c-
The Willard bill attempts to put into
operation in North Carolina a system SIM
liar to these, and while we have not had
an opportunity of examining the bill in de-
tail it seems to be an eminently wise and
practical one. Some court of review is
needed. In the recent hearing of the
railroad tax case it was clearly shown that
real estate was assessed very unequally
cursory examination of the returns in
this county will convince any one that
real estate in many instances is assessed
far too low. For instance an unimproved
lot in Statesville was assessed last June
at 5000; since then two small lots have
been sold off it for 81 800 and the owner
still has the most valuable portion of ii
left. Another vacant lot assessed at $500
has since sold for $500 cash: And this
same rate would apply TO the entire coun-
ty. But it is personally that needs revi-
sion most. Here again let us present q
few examples. A insures his household
and kitchen furniture for 81 900, returns
it for taxation at $175; B. insures for $500
lists it at $50; c. insures for $3.50, lists
at 1925; ID. returns not dollar of cash or
solvent credits, still the registers books
rfcyae ypG
Many other instances could be given.
Great numbers return no personal prop
erty, and very few return any cash on
hand. In this connection the contrast be-
tween a detailed statement of those hav-
ing cash on deposit, on call or on time, in
the First National Bank about June 1st
and the tax returns would be interesting.
or course if a mans debts exceed his
cash he makes no return OF it. Now
what is the remedy. Mr. Willard thinks
he has found one. =
The present system is ineffective and
has tendency to cause Han TO lower
his valuations because he Knows other
people are going to do it, He doesn't mean
to be dishonest, but he does not think 1t
would be fair for him to return lis prom
erty at its actual cash value, Whel others
will not do so. And it would not be talr.
If all property, real and personal in IRE
dell county were listed at fair cash
value instead of having $4,000 h0y wo;fh
of taxable property we would have near
err SO 900 900 according to the estimate OF
one of the best posted men in the county.
And no one would pay more taxes than
he now pays. re might pay less as tie
no :
to Iredell is equally true no doubt in ether
counties and shows conciustvely that II
all the taxable prooecSy Of the State was
listed at fair cash, fFice, the question
of revenue would Solye itself.