The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1909-04-08
'OODC|NC TAXES
IN CITY Of CAIRO
m. J. HoWLEY OFFERS AN ARRAY
OF INTERESTING FACTS
AND FIGURES.
DECREASE SINCE 1880
Cies Banks and other Corporations
to Show Taxable Valuations
Much Below Real
Values.

III cdFciullS prepared dTticIe III
last evenings Citizen M j. Howley
presents some striking facts and fig
urcs with reference to property
values ANA taxes collected in former
years as compared with present fig
ures. Extracts from this article that
are particularly interesting in view
Of the discussions that have lately
been had on this subject are as fol-
lows:
Loss of Value Since 1880.
The taxable value of all property
real and person, in the city of Cairo
in 1880 was $l40o 4S9. In 1898, %
years later-the taxable value had in
creased to $3.50, 433. Certainly
very small increase for a progressive
city like ours 1t has not been an
uncommon occurrence that taxable
improvements of greater value have
been made in Cairo in a single year.
Let us compare the taxable values of
Il few desirable pieces of property
in the down town business district,
within radius of two blocks of the
corner of Commercial avenue and
Sixth street These cases are taken
at random from the tax books, The
first piece of property whose taXab'e
value in 1880 was $1S92, was valred
for taxation in 1908 at only 1900. A
second property valued for taxation
in 1880 at s541S, was valued at only
$4,000 in 1908 third property
whose taxable value in 1880 was
S172O was valued for taxation in
| 1908 at only S1490 There are num-
bers of similar cases. The three
pieces of property enumerated have
been improved and modernizad since
1880, and not one of them can now
be bought for fifty per cent above its
present full assessment.
| The instances cited above are fair
| samples of the method of assessing
cur most valuable real estate. The
three pieces of property referred to
| can reasonably stand. in the aggre-
gate, or separately an increase of
forty per cent of their assessed vaua-
| ton And so it is with the great
bulk of our most valuable real estate
There are exceptional cases. As a
rule, cheaper property-the poor
mans property--is assessed more
nearly mp to its fair cash valve.
As to Personal Property.
Now let us look into the assess
mont of personal property. In the
opinion of the present editor of Tho
Citizen, the leakage here is far
greater in proportion than in the as
sessment of realty. Real estate can |
not hide away from the assessor.
Personal property can hide-and does |
Away back in 1880 when The city |
was plodlng along slowly enough
and the population according to the
government census was only 9011 |
souls the taxable value of the per-
sCnal property was $4f5,S0S, while 2S |
years later. in our modern year of |
1908, the taxable value of our per
sOnal property had fallen TO S439,525. |
although our population had in.
creased to 10 900. according to 'he |
school census of last year. In 9th or
words, while in 1880. the taVahlc |
value of personal property was about
$50. per capita, the taxable value in
1908 had fallen to about S23 per |
capita. Is a considerable amount Of |
personal wealth escaping taxation |
Are We a community of tax-dodgers? |
Our mission is to present figures |
to the thoughtful reader so that he
may get his pencil and try to figure !
out where the trouble is and how # |
may he remedied.
The Cty's Banks.
Let us see if our weather. people
are really paying a fair share OF
taxes on their personal property Sup
pose we review our pank affairs to
begin with The book values of
stocks i'm the three Cairo banks as
shown by their statements published
in our local papers about the time
these stocks were listed for taxation
in 1908, were as follows, viz:
Alex. Co. Nat Bank .....s2f4SS1 60
Alex. Co. Savings Bank =. 121.2171SI
First Bank e Trust Co. T.. 322.S9S.5s
Cairo National Bank 49,. 1868 G. /,
Total book valve ....s7S5645.q %
This being the book value of the I,
stock, its fair cash value" could 4,
not possibly have been any less than r
the amount named. while in all prob J
ability it was considerably more. II :
IS altogether unlikely that stock in
my Of our banks can be bought at :
is book value. 1t would. therefore.
lot be unreasonable on the part of
he assessor. nor unfair to the stock
folders of the banks, to have as !.
cssed this stock according 10 law. :
L its fair cash va1ue~-its book "
-alue- especially as under the reve-
ne law. only one-fifth of the asses d
cd valre is tatrn IS basis for taxa
ion. Ert let rs see how this valuable
ank stock was assessed for TAXATION.
he tax books show the following: .