Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1904-07-08
REDUCTION OF TAXES.

the meeting yesterday adopted a
schedule for the year 1904 which will
reduce the taxes In city. town and
county nearly one cent on the dollar,
or ii dollar on every hundred.
TO put this in more tangible form,
Il means that a business man who
pay on q 100000 valuation will have
his taxes reduced BY $50, and one
who pays on 10000 will get off with
s5l less than he paid last year.
The principal reduction In the OK
penses o. the county which. has made
possible the lowering Of the tax rate
Is due 10 the r~efunding of certain
bonds. the paying off or judgments
and the consequent reduction In fn
Iterest payments. TO ~partfcularize,
the reductions were made on the fol.
lowing items which were included In
last years levy: / mills TO pay the
Bates judgment bearing To per cent
interest: refunded Into 9 per cent
bonds and the levy cut. 2 mills 10.
pay other 10 per cent judgments which
have been paid OFF In cash, and tins
levy cut one mill To pay for new In.
dcx for all county records, al pro
yided for BY the last legislature, and
which il cut, the work having been
done: | mill levied for payment Of
Interest on 6 per cent bonds--redueed
TO 90 mill because OF reduction Of
Interest to 8 per cent. .05 mill levied
for repair on court house and jail,
cut as a sufficient fund has accnm.
ulated TO finish the necessary work,
This items II will be noticed will total
95 mills or almost n cent on the
dollar. But the county levy Ii reduced
by only 85. Why this difference,
may naturally be asked. This Is ex,
planned by the fact that the county
commissioners found II necessary 70
raise the levy for territorial purposes
by | mill In order to produce the
amount required from San Miguel
county.
This raise from l.55 mills for terri
torial purposes to l.G5 appears strange
IN view OF the recent announcement
BY Auditor Sargent that the levy fol
territorial purposes might be reduc
Cd from lbs 10 IA and calls for !
somewhat extended explanation.
The territorial board Of equalization
according to the law passed by thu
last legislature. assesses each coun
~ d definite amount for territorial
purposes instead Of assessing d Ger
tain rate. For Instance, the boart
formerly told the commissioners o
each county 10 levy one aud three
-four or five tenths mills for territorial
purposes, Now the board instruct,
them to pay 100000, 10000 or $50,
900 III the case may be. According Il
the old law. San Miguel was asked I,
levy a tax OF LOS for territorial pmr
poses, which produced about $4,000
According 10 the new law we ARE ask
ed 70 raise the sum, In round mum
bers, of $4,000 m increase Of abonI
$4,000. This Increase Is due to In,
large amount OF land grants within
this county. which are turned in b,
the assessor nj one dollar per acre bul
which Is q matter Of fact do not pay i
dollar o. taxes as for instance III,
Las Vegas land grant. amounting ii
round numbers 10 100000 acres.
The board 81 equalization when Il
met last February. found san Miguel.
assessed valuation 10 be about $1,000,
lOoU.
Taking the total of the entir,
territory. II was found IL equal. id,
sta0 900. The total amount neees
sary 20 be raised for territorial pur
poses was si90n0o,
San Miguel representing on,
tenth Of the total valuation is aske,
ito raise $4,000 These figures in I'll,
absence of exact data are simply uset
AZ illustrative Rut they serve Z,
SHOW how the return by The assessor
Of something over a million acres II
land grants az u dollar an acre oper
ates through the hoard Of ~equaliza
,tion 70 raise our proportion of take,
for territorial purposes. A. a matter
Of fact, San Miguel county's yaiua
tion should be q little less than Al,
IooO.ooo This should have reduced on,
Quota for territorial purposes 10 abou
$4,000 and made possible the rcduc
tion In the rate from l.55 10 IL which
was recommended 81 the territorial
auditor.
This reduction viii doubtless 20 in
% effect In many OF the counties 81
1.-THE territory. In recent ycars \ Law,