Licking Valley courier. [volume] (West Liberty, Ky.) 19??-current, 1917-02-22

contributing a fair share, the deficit
in local revenues will not only be COM
pensated for, but justify a reduction
in local tax rates. Mortgages running
over three years will pay registra.
ton tax in addition, to catch the long.
time loans of foreign corporations,
who would otherwise escape taxation.
Farming implements and manufac-
turing machinery, raw material and
products In course Of manufacture,
will be taxed for state purposes only
Farm products raised within the year
and undisposed Of are exempt from
all taxation.
/ Merchandise in stores and ware
houses, including distilled and matted
spirits, will continue to be taxed for
both state and local purposes as at
present.
| Corporations will be taxed the same
as individuals on the same classes Of
property owned, and, in addition, on
their franchises based on their pub.
lished statements, whereas the prop.
erty Of individuals is merely "esti.
mated" by assessors.
I Banks will continue to be assessed
as at present on the value Of their
I shares Of capital stock, surplus and
undivided profits, for both state and
local purposes. and the proposed tax
on bank deposits will doubtless be
paid by the banks in preference to dis
closing their customers identity, the
effect Of which will be an increase in
the present bank taxes, but as this
will get more money in circulation,
the banks and people will both be
benefited.
Local assessors and supervisors will be
continued as at present but the State
Board OF Equalization, Board OF Valuation
and Assessment and the taxing privileges
OF the Railroad Commission will be dis
pensed with and all questions OF state
taxation be delegated to a bipartisan
permanent State Tax Commission, with
power to enforce the law Under the
present system, state officials elected for
four years, and with other onerous duties
TO perform. can hardly be expected to
acquire the knowledge and put In practice,
during their brief terms, the intricacies
Ol NdNdNlOH, nenCc lne neeu OF n perma-
nent, experienced central authority. free
from local influences and I'm perennial ses-
sion TO secure the best results for the
taxpayer, as well as the state The ex-
\ pense OF such commission is insignih-
cant In comparison with the advantages
4 and will be onset by economies In collect
Ing the revenue, which now costs over
10 per cent, obviously excessive.
The new system contemplates the equa-
! bic assessment Of all classes OF property
and by actual equalization distribute the
y burden In such manner as to require
. every Individual and corporation owning
taxable property and enjoying the protec.
ton and privileges OF citizenship In Ken.
A lucky to share the expenses OF the gov.
eminent In exact proportion to theiI
\ holdings and when all classes OF prop.
i erty contribute according to a fair and
rational law, wisely administered, tn,
revenue win be ample, the penalty ligh
and taxation will be so just and mild Il
will be the question OF least concern to
prosperous and progressive people.
The new law is authorized by the IN,
amendment TO the constitution, which
WIS twice adopted by the General Assem-
bly, in 1912 and 1914, and twice ratified b,
the people. In 1918 and 1915
The Legislature OF 1916 adopted a reso
luton calling for the appointment OF
State Tax Commission to investigate tn
, question of taxation in this and othe
states and revise the tax laws.
The membership OF the Tax Commits
sion:
Seldom r, Glenn, Of Eddyville,
H. M. Brock, OF Harlan,
A. j. OLIVER, OF Scottsvllle.
Hite II. Huffaker, OF Louisville.
7. r. Gardner. ID Bardwell,
Geo. l.. Pickett, OF Shelbyville. and
Reuben b. Hutohcraft. Jr., OF Paris,
comprises men OF different political par
| ties, farmers. lawyers and business men
\ | Six are residents OF small towns and oni
ore IRON city. and six months was spen
In securing information and consultin
I authorities on taxation.
> The result OF their labors has been com
mended by nearly every newspaper In tn
. state, over twenty commercial and agri
cultural organizations thousands OF ind
y vidunls and public officials Only FEY
3 objections Shave been heard. and thes
from parties. who have failed to compre
= bend the meaning.
The Governor is willing to cal specia
meeting of the Legislature to conside
D the measure, and seeks the approval G
= the people.
5 Every taxpayer should write to IN
Governor and HIS Representatives an
a SENATORS and urge that prompt action tn
question deserves.
s Publication
OF the
a State Tax LsaEue