Windham County reformer. (Brattleboro, Vt.) 1901-1906, 1903-08-14
BRArTLEBoRo, FRIDAY, AUG. IA, 1908
Taxation of Mortgages.


for and work for some legislative ac'
ton by the next general assembly t.
relieve double taxation" Accord
ing to the present system in Vermont
mortgaged real estate is taxed on the
value Of the property and on the value
of the mortgage. This money loaned
on real estate secured by a mortgage
is taxed to the borrower and to the
lender except when the lender is
bank or trust company. The defect
is apparent. The remedy is not ap-
parent.
It is impossible that laws should
be framed so as to dispense justice In
all cases. The taxation law OF YER
mont is such that justice is obtained
in very few cases. Double taxation
makes dishonesty almost justifiable
and Expresses the poor at the expense
of the rich.
The ones most seriously affected are
the farmers The agricultural re-
sources of Vermont are more thor
oughly utilized than it's other natural
advantages. The farming element is
the most numerous and powerful, and
has in it's hands control of the state
legislature and the state government.
The only requisite to procure change
is the suggestion of a better law and
the conviction among the farmers
that proposed law would be better.
To understand all phases of the tax
alton problem in it's relation to YER
mont, it is necessary to have special
experience and training in law in col
lecting revenues, and in political
economy. The average farmer has
not the time nor the opportunity to
acquire such experience and training.
His business is to work the farm and
pay the taxes and with the best dis
position in the world to better things,
he is powerless 1t must be remem-
bered that a sudden change in policy
regarding so important question Is
undesirable and would create consid-
cradle distress until it became well es-
tablished. If in the beginning taxation
had been justly apportioned we
now. But, admitting, as everyone
does, that our present system is faulty,
is it wise or kind to those who come
after us to fold our hands and whine.
Nothing can be DONE" because we |
have become so accustomed to the !
present system?
Something can be done. Elect to |
the legislature next fall a man who |
is competent to discuss the question |
of taxation, who is willing. to devote
time and thought to it: a lawyer, II
you like, who is not so full Of law that |
he can't perceive Justice; a farmer,
who is somewhat better in
formed than the rest of us; doctor,
a minister, a merchant, a democrat,
a republican, any one who is eminent
LOT WlSuOIu anu NlTlue Dear III
mind the Importance of the questions
which come before the general assem-
bly, and stop sending a representative
because it is his turn"
The most reasonable idea we have
yet encountered in the multitude Of
for the relief of double
axation' is the simple one that the
ender on a mortgage shall pay
axes on, it at it's actual value, and the
shall pay on the remaining
ralue of the property if such there be.
Thus mortgage on real estate would /
De an offset to the property of the ;
nortgagor as it is now on personal ,
state. This plan has serious diff
,ulties which would in time adjust {
but it is based on the prin-
iple that each should pay on what ne
WINS. If the tax rate should rise it 7
would not make the amount of the |
ak on mortgaged real estate more, '
ut would make the taxes on other c
.inds. of property more. 1t is about I
ime that some of the other kinds of t
bore an equal share in taxa C
ion. 1