The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1905-12-13
IT'S TRUE VALUE.
Comptroller General Jones Issues
Letter.

tfOIler General jones las cuOI 0"'0O
circular letter to city and township
board of assessors, county auditors
and county boards Of equalization
which will have the effect Of either
Irevolutionizing the assessment Of prop
erty in this State or of further and
finally demonstrating that the audi
tors and the members Of the boards
have no intention of enforcing the
very plain statutes passed by the leg
islature years ago looking to the as
sessment of property at its full true
money value instead of on so per
cent. basis of a valuation arrived at
through a system Of lodging made
possible by politics and wire pulling.
The regular quadrennial assessment
Of real estate is to be made next year.
the returns beginning to be made the
1st of next January. The comptroller
general after several times falling 20
get the legislature to pass laws as will
make it a criminal offense for any Of
fcer to knowingly list property at less
than it's true value and making IT
perjury for a return to be made be-
low real value, has decided to take
the bull by the horns" with this cir
cular letter and direct the enforce
ment Of the law requiring property to
be returned at it's true value. He es-
Inmates that his directions if carried
out will double the tax values Of the
State, making them over s400,000,000
instead of only S210,000,0o0. The
comptroller general finds that at pres
ent property is assessed in this State
at from to 100 per cent. Of its real
value, and he points out that the
small property in proportion is carry
ing the biggest part Of the load, as it
is the large property which is lodging.
OF course if the direction Of the comp
troller general are carried out faithful
~ throughout the State there will
not only be no further State deficits,
but the city, town and county authori-
ties as we'll as the State authorities
will have more tax money than they
can spend.and the levy will have to be
reduced ia proportion as the assess
ment is raised. The comptroller gen.
eral has tackled a big problem; if he
succeeds in making a touchdown with
it he will be the hero Of the hour. If
it is doubtful; whether there is enough
public sentiment behind him to make
his success possible; it seems likely
that the same old lying he seeks to
head off will go on Indefinitely.
The comptroller general has gone
over the situation carefully and in de-
tail with the attorney generals Office,
which sustains him in his move and
finds authority in law for all he di-
rects in his circular. This conference
decided that the term true value in
money as used in the statute means
the real, genuine market value, ''the
amount which a willing purchaser
| would pay willing seller" for the
property; it is not a forced or sher-
| ifs sale value, but real value.
The comptroller general has said in
his report to the legislature:
''The present assessment laws, in
my opinion, are sufficient, and are
based upon the just and equitable basis
of the constitution, the true money
value Of property subject to assess
ment. However, as stated in my last
report, it seems as if the officers
charged with this special duty have
virtually set aside the constitution
and laws, so that it now becomes
necessary to add such requirements as
| will compel such officers TO enforce
I; the plain mandate of the constitution
and laws relative to the assessment
| of property. would recommend
that a law be enacted making it a
punishable misdemeanor for any Off
Ger to knowingly assess or list prop
erty at any other than what ne be-
| lieves to be its true value. 1 would
also recommend that the county aud
| itors and assessors be prohibited from
accepting returns Of property for tax
alton unless the oath attached to such
returns is sworn to and signed by
the property holder or his agent, and
that any person swearing to false
return or knowingly omitting any
species of property subject to taxa
ton. shall be deemed guilty Of per-
jury Honest men will not object
to this law, but I apprehend strong
objection from the tax dodger' and
owners of invisible property-as
bonds. stocks. mortgages, moneys.
etc, little of which has been returned
for taxation.
THE strongest objection against