The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1904-03-19

leads to an unseemingly scramble for
advantage among the counties in ef-
forts to avoid State taxation; it makes
high tax rates an imperative necessity,
and these serve as a powerful incentive
to concealment and tax lodging to
use q common phrase. ON the part OF
the individual taxpayers.
"a tax rate of 8 or 4 per cent makes
it almost impossible to collect taxes on
money. whether it is in hand or loaned
to others. As a result Of these rates
the execution of mortgages has almost
ceased in this State. Those who loan
money on the security of real estate
usually take 8 deed absolute. giving to
the owner q bond for reconveyance.
No mortgage being on record, it is ex-
tremely difficult for the Assessors to
trace up money loaned. There is good
reason for this form of evasion. When
money is taxed, it is necessarily at its
face value, while, as before stated.
other forms of wealth are either greatly
u~ndervalued, or not given to the As
SCISSOR at all.
"By no means the least of the evils Of
a high tax rate is its effect upon the
investment of capital from other States.
There are few subjects upon which the
capitalist is more timid than that Of
taxation. Most of the idle capital
which would naturally seek investment
here is in Eastern money centers where
interest rates are very low-frequently
no higher than the tax rates in most Of
our counties. 1t requires a gilt-edged
proposition, indeed, to induce the in
vestment of New York or Boston
capital in the face of a A or even 8
per cent tax rate"
To remedy, in part at least, these
evils, the County Tax Reduction Law
was enacted. Its principal feature is a
graduated reduction of the county tax
rates. the purpose being to force a cor
responding advance of valuations, so
that the same amount of revenue may
be raised. The aim is not to collect
more money from the taxpayers, but
the same amount at lower rates, based
upon highe r valu atoms.
Law Condemned without a Trial.
Mr.. Bartine says that a studied effort
has been made to create a prejudice
against the new tax law, and to induce
a public condemnation of it in advance
of a trial. 1t has been asserted that the
law was in the interest of the railroads;
that the railroad valuations have been
permanently fixed, and the raising of
valuations must fall upon other kinds
of property.
The State Examiner shows that the
new law which reduces the tax rates
Gin no way touches the methods OF
valuing property" This is plainly the
duty of the State Board of Assessors.
acting under another law, which pro-
vides that valuations shall be fixed in
January of each year on all kinds OF
property, ''and," says Mr.. Bartine,
common fairness requires us to assume
that the Assessors will perform their
duty justly and in~telligently by all
classes of taxpayers. If the
Assessors acting as a Board fail to dc
their duty, they are answerable to theil
constituents as they would be if they
acted separately. each within his OWL
county"
Varying Condition and Local Fears.
1t has also been objected that coun.
ties and towns can not be brought to a
common basis of taxation-50 cents or
the $100-because they differ SO widely
in wealth, population aud business con
ditions. The State Examiner says there
is some force in this objection and that
amendments may be necessary for loca,
conditions. But" he adds, 1.-The 50-cent
limit to which the objection is ad.
dressed is still a long way in the future
to those counties which fear the great.
est difficulty in reaching it. The
poorest county in Nevada to-day may
be the richest a few years hence"
MI. Bartine says that the main OBJ
lection he encountered is that a raise Of
values in a given county will throw
upon that county more than its share Of
the State taxes. 1t is urged that while
Elko County will be down to the 50-cenl
rate in three years and Washoe in 81,
years, it will take Ormsby County
nineteen years to get there, Eureka will
take twenty-five years and Nye thirty
five years, during all of which tim,
there must be a steady increase of value
While it is true. says the Examiner
that Elko and Washoe are nearest tn,
limit fixed by law, it by no means fol