Omaha daily bee., 1903-01-13

pared with other mercantile establish
menN. To do this we endeavored to follow
out the intent Of the law by ascertainirg
the real value OF the shares OF stock for
each institution and deducting the real
estate assessed. The total OF bank as
sessments is, therefore, considerably lower
than for the year 1902, but more than half
OF this decrease Is TO be accounted for by
the reduction OF bank capitalization that
has taken place In the interval
over real estate in this report because We
believe that as a whole the real estate
dition as returned BY the tax commissioned
than assessments upon other classes OF
property.
Reforms Recommended.
In conclusion we would like to call at
tention to several matters which deserve
public consideration. The hrst Is VIII
assessment roll. The rank Of Omaha
alongside Of other American cities is hxed
largely by the assessed valuation Of the
property subject to taxation within It's
boundaries. 1t is unfatS 20 the CITY 70
have a valuation go forth to the world
property values. The present grand total,
gratifying as IL Is, Is by no means SO
large as it should be, since 1t does not
taxation for various statutory reasons pc
cause of its use for public, charltabk, ecu.
cational or religious purposes. Ihe law, ~
seems to us, entities this property 10 ex-
emption from taxation, but not TO eNenp-
ton from assessment. Without attrlput-
ing the omission as a fault to any one we
the future to have this overlooked properly
included In the assessment list ana laner
tempted for purpose OF IaHa taIy Uhat
the true valuation Of all the property IN
the city is and also realize better now
much assistance In the way OF remission
Of taxes is being extended to all these
public Institutions.
second-We do not believe our citizens
realize the excessive cost of their taxing
machinery which is multiplied by dupilca,
lions of assessing functions, In dlnerent
bodies. The outlay for making two sep
arAte assessments of property within the
same corporate limits each year, one tGr
the ounty and one for the city, rs ohIy
a part of this cost, the expense OF tlme on
the part of busy business men in making
up tax schedules and appearing before as
sessing boards at frequent Intervals entati-
ing an equally heavy 6uraen; dim PC vts
OF time should be prevented II possible py
consolidating the assessment machinery Oh
city and county.
Third-Compiete new assessment of real
estate each year is no longer necessary IN
as much as real estate valuations nave pc
come fairly settled. In some states real
estate Is assessed only once In. three years,
changes being entered In the interval Only
where improvements are made or complaint
preferred of inequality, and then only upon
notification of the owner with an oppor-
tunity for a hearing. Some provision toI
less frequent assessments OF real estate at
1lIeTNdlss say VI lilNt " ' ANoAe "VN
work substantial economy for our taXpay'
Ing sciti5ens, although personal property.
which varies from year to year, must
necessarily be reassessed for each tax levy
Equalization Board to Meet.
The city council will enter upon its du-
ties as a board Of equalization this
morning and there are now on file at the
office Of the city clerk between 50 and 100
applications for reduction of assessments
In a majority Of these cases remonstrance
were fled with the Board Of Review, but
they were not reached owing to the time
limit placed by law upon the sitting of thai
body.
Only q few OF these pending application:
are from business firms, nearly all of th'
property owners of that class having gone
over the assessment of their holdings fully
with the Board of Review and accepted
the Judgment Of that body. Many Of then
are filed by real estate and rental agents
as representatives Of owners Of real estate
and a number Of others are from individual
real estate owners.