The Marion daily mirror. (Marion, Ohio) 1892-1912, 1907-12-30

montgomery SE.Z ZZ.I
This demonstrates that the per cent
OF the total tax paid by personal prop.
erty In counties containing large
cities, where the accumulation of per-
sonal property is greatest, Is decided.
ly less than It was in 1852, while in
counties containing no large cities 1t
is about the same or has Increased.
It also demonstrates that farmers who
insist upon the enforcement of the
form rule as 1t stands In the constitu-
tion are thereby penaizing them-
selves. Their personal property is
largely tangible In form and about as
incapable of evading taxation as their
lands. An enormous amount of the
personal property owned In cities is
intangible in form and therefore cap.
able of evading taxation.
Repressive Effect Of tho Tax Rate.
In 1906 Holmes county had the lowest
average tax rate Of any county In tho
state. It was I 6S per cent. Paulding
county had the highest average tax
rate It was 800 per cent. Oregon
township. Lucas county. had the low.
est tax rate OF any taxing district.
It was rs per cent. Continental cor
highest tax rate OF ANY taxing district.
II was G.18 per cent, II. the principal
cities of the state the tax ratio for
1906 averaged about 3 per cent.
Argument is net required to show
that no person can afford 10 list
mCncJ. stockG. uoGds or credits of any
Eir AMI p"y , per cont tax on their
fun value, II this class of property
is listed at all. IT must be listed at
flli value. because It's value Is fixed
~ mathcrGtical calculation. not by
tne exercise of judicial discretion.
The administrators of the law, who
permit real estate to be valued at
from 367 to 50.3 per cent OF it's sell.
Ing value, have no choice, under the
uniform rule. but to value money; the
stocks and bonds OF solvent corpora
tions; the mortgages, notes and other
evidences of Indebtedness of solvent
debtors. at full par value. Valuing
real estate at from SO to so per cent
of full value. and valuing intangible
assessing both at q uniform rate on
such valuation compels evasion for
Intangible personal property in every
possible way.
II it were made certain that
all the money on deposit in Ohio
banks would be taxed 3 per cent on
assessment. day, the mad attempt to
withdraw this money and put it where
the state could not tax 1t would close
every bank in the state. IL would
destroy all industrial and commercial
business In the state.
VIII any person say what business
, conditions would be II, In every prin-
cipal city In the state, II was made
certain that all money on deposit and
In the pockets of the people and every
| solvent credit would be taxed at 3 per
cent on its full valve as the constitu.
tion requires? VIII anyone say what
rate OF interest manufacturers. mer.
Hchants and builders would have to
pay on their loans under such cOndi-
tions? How could business be done
under such conditions in competition
| with conditions as they exist In other
states?
Will anyone explain what interest
rate farmer living in Paulding coun.
ty Will have to nay when he wants
to borrow money II II Is made certain
Of 3.99 on the full amount OF his loan
win any one FIX the rate OF interest
for the small home owner In Conti-
mental corporation, Putnam county.
when II Is made certain that the
lender must pay a tax OF 6.18 per cent
on the full amount. of his loan?
The differentiation Of real estate
raises the tax rate The higher the
( tax rate. the less is the relative rev.
enue from personal property. The re.
suit of the policy OF undertaking real
estate, and OF taxing personal prop.
erty on full ~aluation at the same
rate as real estate. rs to destroy tho
revenue eproducing ability OF the per,
sonal property tax. This is demon
strated by the experience of every
| community where q change has been
made from high to low tax rate
] on personal property. Should this
state exempt money and all non-in.
come.earning personal property from
taxation, and tax ali other personal
property at not more than one.
| quarter OF one per cent the rev.
enue secured from the personal prop.
| erty tax would be Increased from 10
TO 20 times. This statement is con.
flrmed by the experiS1 CO OF the city
Of Baltimore, the state OF Connecticut,
the state of New York, and every
place in the civilized world where d
| change has been made from a high
to low tax rate on intangible prop
erty. y
Every decrease in the tax rate. or
/ In the exemption OF personal property