The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-11-01
amount of their purchases:
BRING out the just and fair
Il taxes from nfhnt. sniirrna.

u
ssl9.sl ceualize the tax burdens
borne by the several persons md cor
partitions owning property OF the same
glass. and 80 as to adjust and propor-
fion tho proper burden between tho
several classes and localities. then we
may not reach the millennium, but we
shall be able to care for all our needs,
tive tax rates, and silence, and eradicate
the teaiousies and doubts OF all fair.
minded mon.
DOUBT CONSTITUTIONAL
OF FRANCHISE TAX
The committee serioualy doubts the
constituttonality of the franchise or
gross earnings tax, as at present adj
minlstercd. and does not believe the
talr market or actual true ynlue NJ
railroads can be found BY using nnv
single factor in making the assess
ment; therefore, In its rcport. and tho
Dill accompanying same. II recommends
complete change from the present
law. Among It's Recommendations are
the following:
Abolition Of the gross earnfnes
tax The use OF the ad valorem sys-
tenn of assessment. requiring that the
taxing power shall assess the fair
market value OF each said railway cor
porations within this State, Including
In SAID assessment and valuation tho
Saloe or Its physical and nonphysicaI
properties, and with duo regard to any
Increment OF value arising from it's
existence ns going concern. To
arrive at this assessment. the taxing
power 10 to use not one. but all OF
ascertaining the value Of railway
property. 1t Is to require elaborate
reports from each of the railway
companies showing all classes Of
earnings. stocks, bonds. debts, costs,
Kind and and values OF property of
every Kind. both real and personal.
tangible and intangible, both as n
whole and In the several localities and
districts: and is to procure like in
formation. IL necessary. from other
sources.
When the valuation is made by tho
commission and distributed to tho
several localities. report thereof Is
certified to the Auditor OF Public Ac-
counts. He is to ascertain the sew
erai tax rates and levies and apply the
same to such assessments thus acer-
tanning the amount OF taxes to be paid.
Each company then pays the whole
amount into the State Treasury. The
Auditor of Public Accounts retains
40 per cent OF the total for the State
about the proportion of the whole
amount OF the present railway taxes
II now receives-and RENTS tho re-
matndcr to the city and county treas
urers to be divided on the basis OF
the several lcvies. Any railroad and
any community is to have the right
of appeal from an unfair assessment"
Beginning its task early in April. the
State Tax Commission completed the
work within just few hours OF the
time limit contemplated by the Gen.
eral Assembly when the act creating
the commission was passed. The final
installment OF copy was prepared for
the public printer last night. Public
Printer Davis Bottom was Instructed
TO have 5000 copies printed.
Chairman Echols having departed
Friday afternoon for his home. the
typewriter sheets OF the reports were
handed to Secretary Forward in the
Governors office yesterday afternoon
by Acting Chairman Buchanan. He was
accompanied TO tho executive Office by
six other members of the commission.
Governor Stuart was notified yester-
day afternoon by Secretary Forward OF
the filing of tho report of the Tax
Commission. 1t Is expected that tho
call for the special session OF the Gen.
eral Assembly will be issued few daye
after his return to the city next We'd
.aesday. Under the terms of the act
creating the commission. the Governor
is requested to call a special session
Of the General Assembly not later than
the first Wednesday in January, 1915.