Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1915-02-26

that had to be ttiads good to the
state in some Way. and it Became
I'd retain for the pres
emit, and as temporary expedi.
etit, a state rate of 10 cents (iu-
stead of IS cents as heretofore)
on each hundred dollars in value
on the lands and tangible per-
sonal property. This releases to the
counties and cities rs cents on each
hundred dollars, and to that extent
the cities and counties and sub
ordinate divisions are directly
benefited.
The state receives by the act
a. passed, in addition to the 10
cents on real estate and tangible
personal property, a tax OF IS
cents on each hundred dollars on
certain intangible personal prop
erty Circulating notes, bonds, &c. }, the
entire tax on rolling stock OF
railroads, the entire tax on in
surance companies, and will
probably receive IS cents on each
hundred dollars on bank stock,
and the tax on bank deposits.
The counties and cities lose then
right to tax rolling stock OF rail-
roads and insurance companies,
and lose their right to tax GER
tain intangible personal proper
ty Except to the extent allowed
by what is being designated as
the Tavenner Amendment.")
THR AMENDMENT.
Tax payers know heretofore
the tax rate, state and county
IN the various counties and cities
Of the state, varies from abou
lSl.O5 to more than $500 on eacl
hundred dollars of value, in ad
dition to any municipal tax tina
may be imposed, IS cents On eacl
hundred dollars going to tn
Estate and residue to the localities
| AS shown above, in applyin,
the segregation plan to the sta e
it was found necessary to retail
a tax of 10 cents on each hun
dred dollars of land and person
atty, so in adapting the plan t
1.-THE cities. counties and >subdivi
Isison, it was discovered tina
there would be certain loss i
revenue to many counties an
Icities, and in districts and incol
lporated towns necessitating re
lief. For instance, Henric
County lost, including roliin
stock, more than $4,000 Abe
marie County, $1,000; Nelson
$4,000 Z; Orange, $12, 900; Taze
we'll, $4,000; Smythe, S., 900
Wythe, $1,000; Lynchbure
l$73,O0O; Richmond, SOS, 900
|Staunton, SIP, 900; and the II
corporated towns, by being d.
prived of all their revenue fror
: the tax on intangible persona
property, rolling stock, insu1
ance, &C., would in many ia
stances suffer severely. 1t Wa
this condition, and the desire t
give the hard pressed localitie
relief, that the amendment wa
. offered.
i The rate on notes and bond
under the bill was fixed at 7
cents on the hundred dollars, j
favor of the Commonwealth, an
no right existed in favor of cities
counties and local subdi, ision
| to tax their notes and bonds fo
local purposes, so that no matte
Vhof the needs of the communities werx
notes and bonds could not be taxed {
idI for the communities. The holder G
notes and bonds had thus TO pay a tott
lony of 70 cents on the hundred dollar.
iwhile the owner of house an
lot, horse and wagon, and il
general of any real estate an,
tangible property would pay. il
many localities, two or three time
as much.
| With the amendment adopted
1.-THE state will tax notes and bond
los cents on each hundred dollars
leach city and each incorporates
town may tax, if it desires, note.
land bonds not to exceed 80 cent.
lon each hundred dollars, ant
each county may tax the note.
aud bonds of its residents out.
side of the Incorporated towns
not to exceed 80 cents. Thus
the tax on notes and bonds may
not exceed. for all purposes, IS
cents on each hundred dollars.
By virtue of the amendment.
Shenandoah County and its in
-nrn0ra ted fonuc hy .II:~ A.