The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-09-15

bulletin on The Effect of Segrega-
ton in Virginia" which takes UP
many questions regarding the opera
tton Of the tax laws. and to which
answers have been prepared.
Realizing the fact that the major
ity of the people are not advised on
the many features OF the segregation
law. the tax board has taken this
means OF making them clear to the
public, and IL is their intention to
issue the bulletins periodically, dis
trihuting them throughout the State.
Property subject 10 taxation. the
segregation OF such property for To-
cal and State taxes. and the advan-
tages OF the system is taken up in
the first bulletin Of the state Tax
Board, which Is as follows;
Q What are the classes Of prop
erty subject 10 taxation in the State
Of Virginia
a First: Real property, or lands
and improvements thereon.
Second: Tangible personal proper
", which includes farm implements,
vehicles, household and kitchen fur
riture, Jewelry and plate. boats. ships,
etc.
Third: Intangible personal proper
y. which consists Of
dences OF debt. and all demands and
claims however evidenced. whether
secured by deed Of trust or mortgage
or otherwise or not so secured
t2) Capital OF persons, firms and
corporations employed in a business
not otherwise taxed; but the State
does not tax the capital of merchants
but in lieu thereof imposes license
tax graded according to their pur-
chases.
go Value OF the principal or per-
sonal estate and credits other than
money under control Of a court or
court officer or fiduciary.
(4) Money on deposit or in the
possession or control OF the owner.
t5) Value OF stock of corporations
other than Virginia corporations
(6) Bonds of counties, cities and
towns or other political subdivisions
Of this State.
/ @. What other sources Of revenue
has the State OF Virginia other than
the tax on property?
A. The State has a right TO tax.
/ and does tax, certain persons. to-wit;
Males over twenty-one years of age,
incomes in excess of $1,000 and GER
tain acts done within the Common
wealth. These last take the form OF
are about one hundred, the most i'm
portant of which is the merchants
license tax.
(b) Franchise, registration and
charter fees of corporations.
(c) Taxes IN connection with the
Ash and oyster industry.
cd Inheritance taxes.
(e) Taxes for record alton of instru-
ments in writing, etc.
Meaning of Segregation
Q. What is meant by segregation
as applied to taxation under the new
law?
A. Segregation Is the setting apart
of certain subjects of taxation for
State taxes and others for local
| taxes
q. What classes OF property have
been segregated for State taxes?
| A. Rolling stock of steam railroads,
and intangible personal property, ex-
| cept that in certain cases the local-
ties counties and cities) may levy
| a local tax not to exceed thirty cents
on the hundred dollars of the as
sessed value thereof.
| .. What property Is segregated for
local taxation?
A. Real estate and tangible per-
sonal property, except that a tax OF
ten cents on the hundred dollars of
the assessed value thereof Ia collect
ed by the State. all Of which is turned
over to the counties and cities for
| public school purposes and distributed
on the basis of the school population.
.. On what property has the State
tax been reduced?
| A. on real estate and tangible per-
sonal property the State tax has been
reduced from thirty-five cents to ten
loi
assessed value thereof
.. On what property has the total
tax. State and local, been reduced?
A. On all intangible personal prop
erty s. follows:
on bonds. notes and other evil
I dences of debt. the tax has been re-
/ duced from an average total of s175
on the hundred dollars to a State
tax of SO cents on the hundred dol
lars. and the localities have the OPP
ton Of levying for their purposes an
additional tax of thirty cents on the
hundred dollars
| On the capital OF individuals, firms
and corporations engaged in a bust
ness not otherwise taxed, the total tax
has been reduced from an average
tax OF S1.75 on the hundred dollars
to seventy cents on the hundred dol
lars. and an optional thirty cent local
| tax
| The total tax on money has been
reduced from s175 on the hundred
dollars to twenty cents on the hun
dred dollars and the localities can
not levy any tax thereon.
On stocks, other than of Virginia
corporations, the total tax has been
reduced from s1.75 on the hundred
dollars to State tax OF sixty-f1ve
cents on the hundred dollars and
local tax not exceeding thirty cents
on the hundred dollars. at the option
of the local authorities
In 1915 the General Assembly also
reduced the license tax on merchants
whose purchases were over $4,000 and
less than $4,000, from thirty cents
to twenty cents on the hundred dol
lars.
| Q. On what property has the total
tax. State and local, been increased?
A. On none. but in the case of
railroads which are taxed on their
gross transportation receipts. the rate
has been Increased from one per cent
to one and a quarter per cent
Q. Why was the rate on intangible
personal property limited by law and
mt a lunar tnta To