Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1915-01-28
SEGREGATION Of
ROLLING STOCK TAX
But Present Assessment In
creased Only a few
Million.
BILLS ARE DEBATED
Proposed New Law Relieves Insur-
ance Companies From License
Taxes to Cities of State.

Richmond, Va, Jan. 2S-Delegates
Hill Montague, Of Richmond; John
W. Chalkey, of Wise; S. T. A Kent.
Of Halifax, and Thomas B. Robertson
Of Northampton, occupied yester-
days sessions Of the House in debat-
ing the tax problem. Just before ad
journment Delegate a. G.. Weaver.
Of Warren, endeavored to force a
vote on the tax commission measure.
but the motion was voted down. m
dicating a strong sentiment for Gov
ernor Stuart's tax segregation bill.
Delegate Chalkey charged in his
address that Governor Stuart was
,eading Virginia astray on taxation
matters, and that the proposed seq
regation system of taxation was a
plunge into the dark.
The Senate made the tax bills a
special order for tomorrow, at which
time Il vote will be taken. The Sen
,te appears to be evenly divided OF
.he measure under consideration, but
the House. as demonstrated by yes
terday's activities. is Overwhelmingly
For tay caureration
Segregation Of all insurance taxes
10 the State is provided in a bill
, which is now being prepared and
which will he introduced in the Leris.
within the next two or three days.
Under the provisions Of the bill the
State will receive, it is understood,
about $4,000 a year more from m
,urance companies than it now rec
.eives. The companies will be re-
uuired to pay no more, or but little
! more. however, being relieved OF all
local license taxes.
Under the provisions Of the pre-
vailng laws all life insurance COM
panies are required to pay in State
taxes. the bill proposes to abolish
! MUM income in Virginia. Fire in
! surance companies and miscellaneous
insurance companies pay $l:15 On
The 500. In addition to the State
taxes all the companies pay loca!
taxes, which in some instances are
; heavy.
The bill to be introduced fixes the
rate ON life insurance companies al
50 % on the 500. The rate on hre
and miscellaneous insurance compa-
MES is fixed at S2.75 on the 500.
These rates are subject to slight
! changes, however, because the final
draft of the bill has not yet been
made.
! Besides abolishing the local license
taxes, the bill proposes to abolish
the specific license tax of $500
which is levied against every COM
pany by the State.
A plan is being discussed whereby
the localities will be recompensed for
> the loss of their local insurance tax
es. this TO be accomplished by pay
ment of the localities by the State OF
certain percentage Of the total IN
surance tax received by the State.
There will be introduced in botf
branches of the Legislature a bill
segregating all the taxes on railway
railing stock to the State and fixing
fat tax rate.
: According to plans announced
flat tax of 81 on the 500 is to he Tx
: cd and it is the understanding tina
the State Corporation Commission
would increase the assessment Of roll!
!: ing stock to about S64,000,000. B!
this arrangement the railways woul'
nav about 100000 year more t
the State than they are now contrl
buting.
It is now understood, however, tha
the fat tax rate will be increased
J Il will be more than 81 on the SO
of the assessed valuation. This vii
: result in more money to the State
5 the rolling stock is assessed at s64,
, 900, 900 or if the amount now pal
by tie railways in deemed sufficien
= or nearly sufficient, it will not b
e necessary to increase the valuation
/ to s64,000,O00.