The Barre daily times. (Barre, Vt.) 1897-1959, 1908-07-29

where proves failure. The average
local tax rates when applied to intangi
bes, result in the owner paying a taS
thereon at the rate Of from twenty five
10 sixty-six and two thirds per cent
! Of the income from the same, which i
contiseatory. Pennsylvania has taxed
intangibies at low uniform rate OF -four
mills throughout the state for some
thirty years, and the amount OF such
property so taxed has steadily and sub
stautially increased.
| Maryland began taxing intangihles at
tra.low uniform rate Of about four and
t'asnths mills some twelve years ago
BefSfe then the tax rate there was about
two per cent From 1896 to 1907. the
amount OF intangibles taxed in the city
Of Baltimore increased from S6.000,000
TO si50,000,0o0
1t Is shown on the other hand that
in Vermont, and in substantially all 9th.
err states where intangihies are taxed at
the same rate as other property, there
is no substantial increase in the amount
OF such property taxed. Ohio and New
Hampshire are mentioned as notable ill.,
lustrtions of this fact.
Many other facts and arguments are
presented, which tend to support this
plan Of taxation, and the opinion is ex-
pressed that iii no other manner will
Vermont ever be able TO successfully tax
this class of property.
The constitutionality of such law
il discussed and the opinion expressed
that it is constitutional.
The loss to the state in the savings
bank tax ii the five mill rate is adopted
ii considered, and reasons given why
such probable loss viii not necessitate a
direct state tax
The entire commission report that
whenever d greater state revenue is re-
.qnired, direct inheritance tax Is a
proper source from which to obtain the
same and the collection of business
tax from foreign corporations doing
business in this state is recommended.
Methods for the appraisal and taxa.
ton OF timber and timber lands differ
ent from those now in force are dis
cussed and immediate legislative action
on this subject urged,
Facts are presented which clearly set
forth the heavy burdens OF debt and
taxation resting upon many Of the
poorer towns, but no Recommendation
as to legislation on this subject is made
by the majority.
Four members OF the commission rec
ommend that no change be made at
present in the taxation of insurance com
panies and public service corporations.
They believe that the law on this sub
ject having recently been revised and the
tax rates in many cases increased, these
companies are entitled to reasonable
permanency in the laws under which
they operate. Further, the existing laws
seem to be operating well and compare
very favorably with the tax laws i
other state on this subject.
Aiessrs. Pierce and Olmsted are of
the opinion that the present law giving
the option to railroads to pay a tax
based upon their gross earnings instead
of upon the appraised value OF their
is an unjust discrimination in
favor Of such corporations and should
be repealed.
In addition to the recommendation
made BY them already mentioned, they
that a state tax be assessed
upon the franchise and property of rail-
roads at a rate to be aseertained by d. /
yiding the total amount Of taxes levied |
BY the total appraised value Of property !
and polls entered in the grand lists. The