Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1912-08-02
TAXATION IN MINNESOTA
TWENTY Y-SEVENTH ARTICLE -
STATE EQUALIZATION OF PEI
i SONAL PROPERTY

= soNAL PROPERTY !;
The percentage Of personal property
assessment to the total assessment :na
the state has varied but slightly IN
twenty years. In 1890 it was 18.1 peg
cent, in 1900, 1913 per cent, and IN
1910, 17.2 per cent Of the total asseaz~
| ment.
The difference in the actual v11u6
of the two classes Of property, real and
personal, is probably very much 4esa
than the difference in the assessed
value. It is difficult, if not impossible
under existing laws, to reach all foEns
Of personal property for purposes ST
taxation. This is especially true Of So
called intangible personal property No
state has yet succeeded in doing it, $50
that Minnesota is not alone in its fail!
ure in this respect.
The assessed value Of the tax3bl0
property of the state more than doubted
in the ten years between 1900 End
1910, the exact increase being 103 Per
cent. The average increase was 6.7 per
cent. The assessed value Of land, heN-
ever, increased more rapidly than per
sonal property, the former showing rs
per cent, and the latter 81 per cent of
an average annual increase during this
period.
State equalization Of personal p1up-.
erty is much more complex than that
, of real estate. The sales method at
fords reasonably accurate measure uf
realty values, but the valuation of Per-
sonal property is largely matter of
good judgment, and an intelligent dis
| elimination of changing business con-
| ditions, supplemented by the use Of
| comparative tables, the grouping Of dis
! tricts Of the same general character
! and wealth, and the use Of the data
furnished from time by the census de-
partment Of the bureau of commereG
and labor.
| To illustrate the use of the date fu-
nished by the census department., tho
number and value of the domestic
animals in each county Of the state in.
1910 was given in bulletin issued
early in 1911. The total value of such
animals in the state IN that year was
$156, 1855. The assessed value of
domestic animals in the state that year
was $40,592,851. Based on the census
alton the average assessed value IN
1910 of domestic animals was 2G.9 per
cent Of true value. Applying the
census valuation to. the different class
es of domestic animals, we find th1t
horses were assessed on an averagG
basis of 24.6 per cent; cattle 32.6 per
cent; sheep 21.1 per cent, and swine xf
JOG per cent>ofz census value. ss.~-
Industrial and commercial statistics
are also compiled from government NJ
ports, and are compared with the as
SCISSORS returns of these classes Of
property. Financial reports and III
surance carried are also factors In
equalization.
! The valuations fixed by the census
department are not accepted by ths
tax commission as absolutely reliable,
but are used in conjunction with ~otheI
data to determine approximate values
in different counties.
In equalizing personal property as
sessments comparative tables are pre-
pared showing the assessed value IF
classes Of personal property in each
county for period Of years, and the
per cent Of increase or decrease for the
current year. Counties and districts of
tho same general character and wealth
are grouped and compared by::classes
and totals. .:>.*.,: 80:
|. When county shows any consider
able decrease in the assessed value uH
personal property compared with the
preceding assessment, or for period
of years, a special investigation is IN
! dertaken to determine the cause Of the
, decrease. If no cause can be discover
} ed, increases are made in order to re-
store the assessment to it's, proper place,
and to equalize: it: with the assessment
Of other counties of like character.
) The assessment Of bank stock is per-
, haps the most uniform Of any class df
personal property in the state. State
and national banks are equalized on \
} uniform percentage Of the aggregate df
} their capital, surplus, and undivided
profits, less real estate owned by the
, bank.
The above is general outline OF The
| methods followed by the tax commits
} sion is equalizing personal property as
. sessments. The commission is COR
!: scious Of the fact, however, that unless
the initial assessment is a good one,
unless all property is fully listed and
, equitably valued in each assessment
district, it is difficult to overcome it's
defects by percentage increases or de-.