The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-03-28
Prepares Statement Showing
That People Will Pay Less
While City Loses Little
Says Blame Is Not
| Upon Segregation
L Rate Is Raised it Will Be
Because Expenses Have In
creased-Doesn't Propose to
Be Slaughtered

Members of the General AS
sembly of Virginia who support
ed segregation ut the extra scs-
sion of the Legislature and help
cd adopt that system of taxation
for Virginia. expressed resent
mcnt yesterday at the efforts TO
nl-.-6 upon the seq regation sys-
Enm the responsibility for the
S~pp0sesi increase In the tax rate
In Nichmond.
II do NOT propose TO be slaughter
ID In that fashion" said ex-Speaker
b. p. Cox. who prepared statement
showing thar an increase in the tax
rate was 1ot made necessary by the
adoption of the segregation system.
IT do 10; geo how the responsibility
can be placed upon segregation II
the figures Of City Auditor ssrensha~
are correct said ex-senator fiar-
man.
were also aroused. some OF them de-
ciarinc tina. there is absolutely no
reason for an increase in the tax
rate OF the city at this time.
Speaker Cox's Statement.
Mr.. Cox. aroused by the attempt to
make IL appear that an increase in
Richmond'S TAX rate IL nde neces-
sary By seere CATION. prepared the fol"
lowing statement.
THE public should understand
tIat the effort now being made 10
increase tire tax rate Of this city can
not be justified By the plea shat this
step IL rendered necessary by the seq
reEnt.on system recently enacted by
the Gen arai Assembly. An examiuA-
tfpn Of the figures wifi show that tho
new system OF taxation has no con-
nection with such inerease and that
the city and the Individual citizen
has been benefited.
ssThe people OF the city OF Rich
mond paid In 1914 on an assessed
value OF real estate and tangible per-
sonal property Of siot,5so,o1s. to
the State. taxes at the rate Of thirty
ave cents par hundred. amounting to
4es5,ss0: and to the city. taxes at
the rata of $40 per hundred.
amounting to si.422.12o.
sT.nder the recently adopted sys-
tenn, based upon the same assess-
ment and ut a rate of ten cents Per
hundred, levied NJ the State for
schools for the year 1915. and
city tax rate OF 1855, which
Ii the same as the old rate. the peo-
state taxes on real estate and tan
xible personal property. the sum OF
3I01. $50, and TO the city. taxes on
. the same subjects amounting IN ST.
go, 0T0se On real estate and tan
9fble personal property the State
foses and tho city gains about sa54.-
oee.
Reduction on TntangfhIcs.
Intangible personal property.
Which was taxed under the old sys-
tem at a rate Of thtrty-five cents per
| - r..
nof hundred for city purposes. on an
EASEMENT Of se7.i7s,e7s. yielded
/ welded the state the sum OF $685.
i1x. 80 and the city the sum Of $3.50
sol a.. Under the new sytem the
fnx rata on tntangfbles II sixty-f'ye
cents per hundred for state purposes
md an optional rate Of thirty cents
Der hundred for city purposes. based
uon the old assessment. intangioles
Will. therefore. yield the state I'M
Der segregation the sum of slTs,6st.-
-, and the city the sum Of $751;
g4e.0 The State gains On intanEi-
hios the gum OF 1850. the city loses
919e ,so8.4l. but the individual tax
Sss.ss.
s1n reference TO intangfnies II
fangibles the capital OF merchants
has been omitted. as this is subject
10 focal taxation as heretofore.
ron the basis of the 1914 assess
ment the people Of the city Of Rich
Mnrd will pay about $f72-oo0 less
towards the srpport OF the State gov
eminent than they have heretofore
contributed on real estate. tangible
ana intangible personal property.
Under the new system with no IN
crease In rates they would pay on
these subjects OF taxation to both
city ana State. s2t1.42s35 less than
they have done heretofore.
ssThe revenue of the city. based
m the sama assessment on real es-
tate and tangible personal property.
and applying the optional rate of
thirty cents on intangihles. has only
been reduced about $4,000.
More to Join In.
sfn reference TO intangibles II
should be noted that more than one
half az the Intangible personal prop
erty taxed by the state in the city
- Richmond IL held by nduciarfes
ana trust estates The general aver
are throughout Virginia Is 40 per
cant bv hduciarIes and trust estates.
The Auditor of Virginia calculates
that the reduced rate on intangibies
will place upon tile lax books more
Than IA half more than are now tax
"a. RI this calculation prevails, then
II will easily b. seen that the small
ycxs in the revenue Of the city will
IL and can be made up from this
source
.~The Widows and orphans in this
State interested In trust and fiduciary
tfaes. hnVy