Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1908-07-31
take. for the time being shall be chair

This tax commission to have control
OF all administrative matters relating Ia
taxation Tor State purposes with super
vi~ory powers over the listers, an'i With /
authority to equAliEe their sPPraisais.
Thi. commission also 10 have power TO
ayprai~e the stock aud bonds OF do
nestle corporations which are now az
praised hy the listers, aud in addition
10 he charged with the duty of formu-
lating blank inventories for the use OF
the taxpayers. The report finds that
the law regulating the appraisal oil
stock in domestic corporations Is praeti-
cally imperative, and that such stock
largely escapes taxation.
AS designed to produce an improved
local administration of the law il is rec
commended:
That listers be elected for a term of
three years and by ballot.
That separate appraisals be made of
land and of buildings thereon, as tend
ing to promote legal aud uniform ap-
praisals.
That the individual inventories of
the Taxpayers be filed for public in
spection before the completion of the
grand list.
That the taxpayers be compelled to re-
turn their inventories on or before the
tenth day of April annually aud that
failure 50 to do he punished by doubling
aud assessing substantially as the Law
now provides.
That the listers be given authority to
subpoena witnesses upon the question
of Whether any taxpayer has made a
complete inventory of his taxable estate.
That the discount for payment of
local taxes he abolished, that all taxes
be paid in full on or before a day fixed
and that an interest penalty be added
for delays in payment.
To ascertain the value of exempt real
estate it is advised that the same he APP
praised at the next quadrennial ap-
praisal.
; The question of double taxation il
fully discussed in the report. 1t is
pointed out that the popular conception
limiting it to the taxation of property
of a debtor aud of the loan made tc
him where that loan is secured by mort.
gage is an error that so-caled douhl l.
taxation exists, and the same injustice
results therefrom, whenever credits ot
any nature are taxed without being off,
set against tangible property of debtors
The report finds that two supposed
remedies are frequently suggested il
this state, viz; To tax the mortgagee' :,
interest as real estate, his credit to b,
otherwise untaxed, and the mortgage,
to he taxed on his equity only; t,
exempt from taxation mortgaged loan,
bearing interest at a specified rate OF
less.
These propositions are carefully ana
, lyzed and it is shown that they woulC
fail to relieve the debtor class an,
5 would probably introduce greater evil
than now exist
Only two complete remedies, it i,
stated, can he suggested; to tax onl,
tangible property; to allow offsets
. against all property both real and per
sonal. Both of these propositions are
condemned.
Certain important facts are stated
J which show that the evils resulting
from this phase of our taxation system
are exaggerated.
1t is also shown that the farmer suf
fers a far greater injustice through the
escape of large amounts of persona
property, both tangible aud intangible
of other taxpayers by fraudulent offsets
under appraisal, concealment ant
} evasion. These evils it is hoped will be
largely diminished if the recommen
dations of the commission are adopted
1
AS a result the grand list will be greatly
, increased and the rate of local taxation
reduced. This reduction will bring sub.
stantal relief to all who are now paving
: on all their taxable property.
Messrs. Pierce and Olmsted differ
from the rest Of the commission as tc
double taxation and make a recommend.
alton stated below.
The subject of offset is discussed a,
some length 1t appears that only five
other states permit offset against all
tangible personal property. Offsets have
been increasing in this state the amount
allowed in 1907 being about $33, 200, 900.
In the same year over $2,000,000 less
personal property was taxed than in
1881, when the present law went iuto
effect, and $6,000,000 less than was
taxed twenty years ago. Instances of
fraud aud evasions under the present
law are given. The opinion is expressed
that the only logical system of offset is
to permit debts to be Offset against real
estate as well as personal property