Omaha daily bee., 1902-06-19
TO ASSESS AT FULL VALUE
Tax Commissioner Fleming to Abandon
Forty Per Gent Basis.
MEANS AN INCREASE OF MANY MILLIONS
Rate, Says Commissioner, Can Be
Reduced to Ten or Eleven Mills
Z New Plan for ASSESS
ing Corporations.

For the first time in the city's history
property in Omaha will be assessed this fall
at rs full cash value. Tax COMMISSIONS
Fleming has decided upon this course after
careful consideration and after several
conferences with City Attorney Cornell.
and he has also decided upon several
other departures from the mode Of as
sessment employed for 1902. He esti-
mates that the change from the 40 per cent
basis of assessment to the basis of fair cash
value will raise the assessed valuation of
property in the city from $37, GIG. 165 to
$94,0 900, 900, and that other features he pro-
poses to introduce will bring the total up
to between 800, 900, 900 and Sic, 0o0, 900.
"This means" said he, that instead of a
S0-mill tax rate we will have for 1903 a 10
or 11-mill levy. 1t will be no harder on
the taxpayer. The only difference will be
that under the fair cash value plan We will
have a large assessment with a low tax rate
instead of a small assessment with a large
rate. Mr.. Cornell, in his letter to me. evil
IDENTIFY favors the fair cash value basis.
though he says a percentage basis could be
legally used.
Incorporated Mercantile Companies.
Another departure which 1 shall make
in the 1903 assessment will be to bring
incorporated mercantile companies under
the same plan of assessment as franchised
corporations and other concerns. such as
bridge, express, ferry and transportation
companies. Heretofore incorporated mer-
camille companies have been assessed the
same as unincorporated partnerships or in
dividuals-that is, on their stock on hand
and fixtures, but henceforth they will be
required to make returns on their capital
stock. The assessments Of unincorporated
companies, partnerships and individuals
will be increased. On personal property
alone, l should say, the assessments will
be increased several million dollars.
1.-The present assessment is 1877. GIG, 165.
which is on the 40 per cent basis. MultiplS
this 2h and We get the fair cash value.
which would make 1t about $94, 900, 900,
which would be the assessment for 1903 II
no new features were introduced,
but with the new method of assess
ing incorporated mercantile companies and
the extra effort that is to be made to dis
cover more personal property, the assess
ment for next year will be at least $780,
O0O.0 900.
As TO Railroad Property.
'"As to the assessment of railroad prop
erty, / have no right to take II at a figure
higher thai that returned by the State
Board of Equalization, but the remedy Will
lie with the municipal Board OF Equaliza-
ton, which can raise the assessment OF the
railroad property within the city limits to
the fair cash value standard. to make 1t
conform to the assessment Of other property
in the city. Or the inequality could be
corrected, as 1t is now being done in Lin
coin, by an individual making complaint
TO the courts of a too low assessment OF
| ro{IraaA nrnnartv bv fha Sfata Rnard of
Equalization. 1t is likely that there will
be a decision reached in the Lincoln case
by the time this ONCE is ready to send its
deputy assessors into the field for the 1903
assessment
whether or not the assessment for 1903
Will be strictly according to law and en-
tirely satisfactory will rest largely with
the city council, which I have petitioned for
an extra s.. 900 to defray the expense OF
making the canvass. At present l am al
lowed only $1,000 for this purpose"