The Greenville journal. [volume] (Greenville, Ohio) 1850-1918, 1907-12-19
mt of total tax paid by per-

| ~ NNll Vi lOLdl luA Dulu DY Del
sonal property:
Per Cent Per Cen
ADAMS ............ 2S.S 25.
Brown ............. 22.S 25.
Cuyahoga .......... 80 20.
| FRANKLIN ........... 3S 20.
! Lucas ''........... 81 20.
/ Monroe ............ 2l.3 A..
Montgomery ....... 1922 22.
This demonstrates that the per cen
OF the total tax paid by personal pror
erty III counties containing larg
cities, where the accumulation of pei
sonal property is greatest, is decided
! ly less than it was in 1852, while il
counties containing no large cities /
is about the same or has increased
1t also demonstrates that farmers whC
insist upon the enforcement of tn,
law and the perpetuatiUn of the uni
form rule rs it stands in the cOnstitu
ton are thereby penaIi2ing them
selves. Their personal property il
| largely tangible in form and about az
incapable of evading taxation as theil
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 the Tax Rate
Under the uniform rule of taxation
! in 1906 Holmes county had the lowest
average tax rate of any county in thy
! state. 1t was l.GS per cent. Pauldina
county had the highest average tax
rate. 1t was 3.99 per cent. Oregon
township, Lucas county, had the low.
est tax rate of any taxing district
1t was 70 per cent. Continental cor,
porauon, Putnam county, had the
highest tax rate Of any taxing district
| In, h,, 81, 90
cities of the state the tax rate for
1906 averaged about > per cent.
Argument is not required to show
that no person can afford TO list
money stocks, bonds or credits of any
kind and pay 3 per cent tax on their
full value. If this class of property
is listed at all. it must be listed at
full value, because its value is fixed
by a mathematical calculation. not by
the exercise of iu@iciaI discretion.
The administrators Of the law, who
permit real estate to be valued at
from 36.7 to 5O.3 per cent of its sell
ing value, have no choice, under the
uniform rule but to value money: the
stocks and bonds of solvent corpora.
tlons: the mortgages, notes and other
evidences of Indebtedness of solvent
debtors at full par value. Naluing
real estate at from &G to 30 per cent
Of full value. and valuing Intangible
personal property at full value. and
assessing both at a uniform rate Oh
such valuation CoMp|iS evasion fer
intangible personal property in every
possible way.
If 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 10
withdraw this money and put it where
the state could not tax it would close
every bank in the state. 1t would
destroy all industrial and commercial
business in the state
Will any person say what business
conditions would be if, in every prin-
cipal city in the state. it was made
certain that al! money On deposit and
in the pockets Of the people and every
solvent credit would be taxed at 3 per
cent on its full value as the cOnstitu-
ton requires? viii anyone say what
rate OF interest manufacturers, mer-
chants and builders would have to
pay on their loans under such c0ndi-
ttons? How could business be done
under such conditions in competition
with conditions as they exist in other
states?
Will anyone explain what interest
rate far,ser living in Paulding coun-
ty will ha% g to pay when he wants
to borrow money if it is made certain
that the lender will have to pay a tax
of %99 on the fun amount of his loan?
Will any one fix the rate of interest
for the small home owner in Cont
mental corporation, Putnam county,
when it is made certain that the
lender must pay a tax of G.IS per cent
on the full amount OF his loan?
The Qndervaluation 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
crty on full valuation at the same
rate as real estate, is to destroy the
sonaI property tax. This is demon
stratcd by the experience of every
community whore a chafGe has been
made from high to a low tax rate
on personal property. Should this
state exempt money and all nOn-in-
comeearnng personal property from
taxation, ard tax all other personal
property al not more than one
quarter Of one per cent the rev.
"nuc secured from the personal prom
erty tax W0lId be increased from 10
to 20 times This statement is con
trmed by tln experience If the city
OF Baltimore. the state Cf COnr recticut.
the state of New York, and every
place in the civilized world where Il
change has been made from high
to low tax rate on intangible prop
erty.
Every decrease in the tax rate, or
In the exemption of personal property
frNn taxation, VIII tend to induce its
accumulation. This will be a direct
benefit to real estate. Land has great
est value upon which personal prop
erty of greatest value can be induced
to locate. This is demonstrated by
the fact that in those counties where
custom. wiser and stronger than the
law, has permitted the greatest eva
sion OF the personal property tax, the
IN the value of real estate is
greatest. T1e per cent of gain in the
valuation of real estate from 1852 to
1906 IN the counties named has been:
Per Cent of Total
Tax Paid by
Personal Prop
Real Estate ertv.