The Richmond Virginian. (Richmond, Va.) 1910-1920, 1910-03-15
TO RIAL
Our Tax System.

When the Virginia Tax Commission gets down
to work it will have serious business in hand our
whole tax system needs to be revised and reformed
through and through.
1t is canon OF taxation that all actual property
within the confines of the State shall be taxed at
its fair market value, once and only once. BUT we
arc not following the rule We are not taxing all
property at its fair market value, and, on the other
hand taxing some property more than once,
and making the second tax higher than the first.
Take, for example, this citation from the WIN
chester Star, whose editor is Richard Evelyn BYRD
Few men in the State have studied the question OF
taxation more thoroughly than Mr. Byrd In the
article to which rerer he calls attention to that
monster of injustice. the double tax on mortgaged
land. The land" he says,
is assessed and the bonds secured by trust
deed on the same are also assessed for taxation.
The owner of land is assessed upon every much
less than its value-in some counties upon less
than half of its yalue~-whereas the owner OF the
bonds the land is assessed upon the run
value of the bonds.
in not few instances lenders will loan more
than the assessed value upon land in this sec
ton and yet the lender must pay tax upon
the full value OF his loan
Under the present system it is easy Tor the
individual who desires to do So to cover up his
property and fail to return it Tor taxation, yet
the trustee for poor woman, who has little
or the guardian of helpless infant. who needs
all his income for his support, or the committee
of an insane person must make tuli return OF
every dollar OF investments for taxation. A
failure to make full return enables the exam
liner of records who examines investments OF
fiduciaries, proceed in the courts to compel
full return
And So under unjust system, we compel the
widow and orphan to pay the last farthing whe
we offer premium TO others to dodge the assessor.
Here is man with house and lot in Richmond,
upon which he has borrowed $4,000 to invest in
some little business enterprise The business enter
prise is also taxed for all it will bear But he
continues 10 pay taxes the full value OF his mort
gagged property notwithstanding that the holder OF
the mortgage is also subject to taxation on the tuil
amount Of the loan
Doesn't the borrower knoW that he is being
cheated by the Statel And is he not tempted to
get even II he CAM But whether not, does
he not resent The imposition? Does he not have
towards his State feeling that is not akin to love!
Does any man love his oppressor, whether that
oppressor be a fellow citizen his sovereign? Does
the Pole love the Gar? 1t is poor policy tor the
State to take no higher view.
Again the system puts premium on idleness.
II the man who owns the property folds his hands
and lives on his income. he pays single tax.
Ii he horrows money and goes into business he
pays double tax. 1t is poor policy, no matter
how you look, at it, Our tax system is unsound,
unjust and slipshod. II is far from being equal
and uniform" 1t lightens the burden OF some and
makes the burden of Others grievous TO be borne.
Il needs to be ripped up the back and re-made.
We hope the Tax Commission will do IT.