Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1911-01-27
WHO PAYS THE
TAX IN TAzEWELL?
Some Interesting Facts and
Figures About Roads and
A Bond Issue.
(Communicatcd)

|
this week from our last weeks paper,
with an error or two in figures cor
rected.
We have obtained from the
reports of the Treasurer of Tazewell
county to the auditor of the State of
Virginia the sums of morey collected
and disbursed for road purposes from
1904 to 1909, inclusive, and have re-
ceived a statement from the Treasur-
er of Tazewell county of the amount
of money collected in 1910 for road
purposes. The amounts given below,
from 1904 to 1909, inclusive, do not
include the moneys paid by the Nor
folk and Western Railway Company
for road purposes, but the sum given
for 1910 includes 81, 1874. 81, paid by
the Norfolk and Western Railway
Company.
The amounts derived and received
by the Treasurer for road purposes, by
years are as follows:
For the year 1904, $12, 265. 60;
1905, 9141.55; 1906, 9116.15;
1907, 11O7O.22; 1908, $11O72. 27;
1909, 1886. 80; 1910, 81, 1858. 81.
Total, $50, 1870
We have not at hand the amounts
paid by the Norfolk and Western
Railway for the years 1904 to 1909
for road purposes, but if it paid
$7354.21 in 1910, for one year, it is
fair to infer that it paid as much as
$40, 600 for six years, 1904 to 1909
which added to the total given above
of $50, 1877. 90 would make something
over 500, 1000. that has been spent
on roads in Tazewell county in the
last seven years. This has been spent
strictly under the county supervision
by our own home talent. Will any
one state definitely where any part of
this 500, 600 has been put into
single mile of road that has lasted
for as long time as five years, or
even three years? If we have no roads
to show for this 500, 900, and it is
admitted that it has been put into
mud holes, will not any tax payer
be satisfied that the mud holes have
received enough and that we had
better construct permanent roads by
modern methods in the future?
The following inquiry no doubt has
arisen in the minds of many people
What sinking fund is required to
retire the proposed bond issue of
$500, 900?
We have made some inquiry as to
what rate of interest bonds shall
bear to obtain ready sale for them
at par or for premium. Some
bankers have informed us that it will
be very difficult to sell a county bond
bearing less than five per cent inter-
est, for par or at premium. There
fore, placing the interest at five per
cent and on basis of 500, 900 of
bonds, running for thirty four years,
it will require sinking fund of
$11S0, plus interest, $4,000, OF
$6180 year to retire 500, 900 of
the bonds in thirty four years. The
proposed bond issue is $500, 900,
therefore to retire the full amount of
$500, 900, in the event all of it was
expended at one time, which of course
cannot be done, it would require five
times $61SO annually to retire the en-
tire bond issue, which amounts to
$685. 900.
n The total valuation of all property
assessed in Tazewell County, under
the last assessment, is $1,000, 459
and the present levy for rosds is SO
cents on the hundred dollars.
This would produce, $39, 8O2. 90
Less 1-2 pre- cent for delin-
quents and expenses of collecting
and dsbursing the fund, So, $40. Is.
Net total amount of road taxes $35, :
S92. Id The annual amount necess-
sary to retire $500, 600 of bonds,
$50, 9OO.-
Surplus for mud holes, Sd, 992. Id
We will give some further statis-
tics which may be of interest, that
shows the increase of valuation of
property in the county of Tazewell
from the year 1904 to the year 1910,
both inclusive. The figures given
below show the total valuation of
all property of all kinds:
For the year 1904, So, 760, O66 !;
1905, Sd, 1873, 356; 1906, a, 772, 799 !;
1907, SIS, O69, 483; 1908, s, 127, 1872; ;
1909, SIS, 3o7, 119; 1910, 6,42O,
578. Last Assessment for 1911,
81, 600, 459.
From the above figures we find that
the assessed valuation of property
in Tazewell county in eight years has
increased more than 100 per cent.
We therefore fairly infer that it
would increase in the same ratio
within the next eight years, and if
it does, then instead of having $38,
S02. 90 for the road purposes we would
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