The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-01-08
FINANCES OF CITY
BEST IN ITS HISTORY
Chairman Pollard Issues Statement of Municipal
Assets, Showing Excess Over All Liabilities
OF So, 569, 988 Income for 1911 Will
Ee So, $685. $50

In public statement iesued ypstcr-
day By Chairman H. r. Pollard. Jr.. or
the Council Committee on Finance, the
financial condition OF the city Of Rich
inond is declared TO he the best I'm its
history The statement of Mr.. Pollard,
which Will be printed in pamphlet form
for general distribution, contains manv
valuable statistical tables, COMPLIED
by Special Accountant George s. Cren-
shaw, on the basis of balance sheets
of the City Auditor and Treasurer for
tue year 1910. The publication is made
by authority of the Committee on FL
nance in support of the assertion that
Nichmond, with It's population within
lis eleven mile area of 12I.G2S, is the
metropolis of the State, and tho gate
way to the entire South.
Tx Rate Comparatively Law.
The statement shows that total
property values In the city under IN,
State assessment Just completed arc:
Real estate. s1o7,7s7,l33, not Including
real estate exempt from taxation. such
as city, state, church and educational
property; personal property s55.s3o, 66S:
total, 3l63,6ls,ool. The tax rate for all
purposes is based upon 40 per cent. of
The market value of real estate, and on
the market value OF personal property.
tie city rate being fixed at $40 and
tic State rate at So cents on each 500
OF value. There are no county taxes
no special school or other leyies and
no assessments for street improvements
othcr than for sidewalk and allies paw
ing.
Figures gathered by Special Account
ant crenshaw show this tax rate to be
one OF the lowest among cities of the
size and conditions of Richmond.
Atlanta Rates Much Higher.
lie city Of Atlanta, which changes
It's tax levy from year to year. had for
1909, according to Its latest report, "A
state tax of so cents, county tax Of GO
cents and city tax OF s1.25, making :,
total rate there of s235, compared with
total rate in Richmond for state and
city of s1i5. the total taxes here be-
ing 60 cents On the 500 OF value less
than the total rate in Atlanta. wor-
cestcr. Mass, is tho only city so far
heard from which has lower rate
than Richmond, lis tax rate amounting
to S1.6f. The rate for all classes of
taxation In Grand Rapids, Michigan. is
sl,s3; in Louisville. KY. s26s; in Buff
falo, n. Y. sag; Denver Colorado.
$3.50; San Francisco. SO, and Birmlng-
ham. Alabama, $3.50.
BY It's charter the debut limit of
Richmond Is fixed at Is per cent. of
the assessed value of the taxable real
estate In the city. Including all bonds,
authorized and outstanding. the city.s
salable assets exceed its debt by moro
than $S,5O0,ooo.
Some Advantages.
Chairman Pollard's statement shows
that Richmond has superior school ad-
vantages, including manual training,
commercial, law, scientific, medical and
ministerial courses; 1t has abundant
and frst-class street car facilities: II
has building material of brick, stone,
lumber, cement and iron within casy
reach and at reasonable prices; IL has
abundant water power. much OF which
is yet available for manufacturing pur
poses; 1t has unsurpassed railroad ia
cflities, with water transportation, in
Guiding one mile OF naviEable water
front; has attractive and commodious
hotels for prospectors. investors and
tourists: owns her own gas and water
works and municipal electric plant: is
city of homes with permanent and
conservative inhabitants, with moder-
ate living expenses and abundant la
Dor; is noted for IT'S numerous churches
and widespread religious activities;
has ten square miles of land area, with
good climate and healthful location.
and has a death rate from contagious
diseases one-third lower than the
average for the United states.
bonded Debt.
In B. statement as TO the bonded
debt. sinking fund and debt limit, tho
following showing Is made:
Bonds outstanding: