The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-02-05
Taxation and Assessments.

Editor of The Times-Dispatch:
Sir,--If the General Assembly of Vir-
GINA. when 1t adjourns, shall nave enact
ed an efficient law, securing the equali-
cation of assessments of real estate and
personal property for taxation. 1t will
have earned every cent OF the entire
expenses of the session and merited the
gratitude OF the people. II property IN
Virginia can be assessed at its value. 1t
would be highly beneficial to the owner
in many respects. and especially In case
of sale enabling the owner the more
readily to dispose of 1t at q fair value,
and would result in lowering the rate
of taxation to fifteen cents In the hun
dred dollars or less If all tangible prop
erty, real and personal, could be assessed
ut It's actual value, there would be no ne
cessity for double taxation, taxing the
corpus and the bonds secured thereon at
the same time, or other evidences OF debt.
The treasury with the corporation and
franchise tax and other available revenue
would be overlooking. There Is now no
pretense of equalization of assessments
of either real or personal property in the
State at large or even between cotermin-
GUS owners. l have recently sold eigh-
teen acres of land with improvements
upon terms Of one-third cash and bal
ance in one and two years, deferred pay
ments, bearing six per cent. interest for
$4,000, while this property was only as
Sessed at 500.
All property should be assessed at its
fair cash value, and cash value should
be defined by law AS money can easily
be obtained at six per cent. and deferred
payments on real estate, when one-third
is paid cash, can be easily sold at par
when they bear six per cent. interest.
the purchase price of land sold for one
third cash and balance in ono and two
years, bearing interest and secured by
trust deed on the property sold, Is the
it should be assessed accordingly. The
great need of the people, oyershadowing
double taxation and all other minor and
kindred issues, Is the fair and equal
valuation of property for taxation. The
present methods as to both species of
property, real and personal, are mani-
testify Ubiquitous and should be no longer
endured. The commissioner OF the reve-
nue. allows tho owner to assess his own
property. he, himself, rarely, If over, secs
it and only in very rare cases does he
assume the authority to place his own
valuation upon it. He should be required
to inspect at least once In two years.,
every species and parcel OF all tho per-
sonal property of every taxpayer and
place his own estimate of value on it, be-
ing guided in this estimate by what such
property could be purchased for In the
market in its condition at time of assess
ment, and these commissioners of revenue
should not be elected by the people. AS
to real estate, humbly submit that the
State should be by law divided into ten
geographical divisions compact and COM
pOSeu OL COI1tlSuOuS teFTltOry, ana from
each of these ten divisions one man
Should be appointed by the Governor
with the advice and consent of the Sem
ate. the ten so appointed to consti-
tute a board In finally pass alpon and ap-
| prove the assessment OF all real estate.
This board should fix and determine the
| average valuation of land In each OF the
! ten geographical divisions of tho State.
! and having done this, should certify its
! conclusion to another board composed OF
| ten men, chosen In all respects as above,
and composed of one man from each
county In each geographical division,
| which should be the district board of each
! district. and this district board with the
average rates of assessment certified to it
| by the State hoard should equitably ap-
/ portion this rate between the ten coun-
ties of the district as the character of
the soil and the improvements would die
! tate and certify to the State hoard and
tho county assessors the average rate of
assessment for each county; and the
county assessors thus having a chart
for their guidance could approximate an
equitable assessment as between the cit
! iaens OF the county. assessing one farm
lower, another higher, as equity md JUS
tice demanded and finally adding here
| and substracting there until the aver
| age came up to the amount given them
| by the district board, and having thus
| completed the. county assessment the
/ same to be then returned to the State
board for its final ratification and APP
| prevail. A. b, CHANDLER.
\ Bowling Green, Va, January 30, 1906.
* s. q ia j d d Il + .