The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-12-09
TAX REDUCTION RECOMMENDED
from

+ NsA.1H VIII e.isi JSfteiiacNs. -"
INIs, Mr. Moore said that his repor
would show he estimated those re
ceipts would approximate ss.600.000
and he estimated the disbursements
~dsed on present appropriations
witheno provision made for improve
, pents for state hospitals and institu
Tons, would approximate 5000
Should the expectation of Mr., Moor
be realized, according to his estimat,
the surplus In the treasury to thu
credit OF the general fund of the com
monwealth at the close of business
September 80, 1918, win be increas
Cd approximately s745,0e0, which
amount. added to the surplus on hant
September 80, 1917. $2s7.256,6s, wouie
Z make the surplus in the treasury a
The close OF business September 80
1918. approximately $1.042.256.6s.
In view OF this splendid showing
If realized, MIR. Moore was asked IL ht
We're making in his report any recon-
mendauon to the general assembly
relative to a reduction in the rates o.
state taxation, and in response hi
said:
Tax Reduction Recommended.
II am recommending the gen.
eral assembly remove entirely the
state tax now assessed upon tan
gible personal property, which Is
10 cents on the 500 assessed
valuation, thus segrcgating for
taxation solely by the localities
tangible personal property. an
other step towards complete segre-
CATION; and l am recommending
that the rate OF state taxation on
n n
of debt, 6ducfary property and
shares OF stock be reduced from
81 cents TO so cents ON the 500
assessed valuation; and I am also
recommending that the rate OF
state taxation ON capital be re-
duced from 10 cents to so cents
on the 500 assessed valuation;
these reductions to be effective
and operative ON and after Feb
airy 1. 1efe."f,
Text Of Recommendation.
1t is most appropriate to publish in
full this recommendation of the. audi
tor:
All OF nay efforts to bring under
taxation all OF the property of this
state As required by the laws of the
state have had "A two-fold purpose
trst. TO efficiently and progressively
administer the financial affairs of the
state and subject to taxation all tax
able property. and. second. to bring
about, at the earliest moment praeti-
cable and possible. a reduction in the
rate of stfrtc tsxHtfort.- t,eftc~c-tiI ne
time for the reduction in state taxa
ton is almost at hand because the esti-
mate of receipts and disbursements for
the present fiscal year. which com
menced October j, 1917, contained In
table ~ of this report land the esti-
mate Is conservative onel. indicates
she revenue will approximate $500.
900 and the disbursements. with no
provision made for improv ements for
state Institutions will approximate
S.S55.o 900, showing the probability OF
surplua of s7s5, 00e.
IT Is Sny opinion the general as
semhly can. at the session which is
about 10 convene. remove all Of the
state tax upon tangible personal prop
erty which In 70 per cent on the sI91
valuation. and can reduce its present
rate taxa ton ~ So eastts On each
sl0e assessed valuation upon bonds,
notes iduciary property, and shares
of stock to fifty cents, and can reduce
its present rate of taxation at seventy
-rerts r--t .rr-S s=-cs---1- r4siaatturr
upon capital To atty cents. the law SO
amended to be- effective and operative
ON and after February /, 1919
4 20 de this the state revenue will be
reduced aa follows;
by releasing the 10 cent tax
now leEied upon tangible
personal property. the state
not to tax this property at
all Observation-Disclosures $l0s,Ooeseo
u BY reduction in the rate of
taxation from sixtyHve
cents TO ATTY cents on the
SIoe assessed valuation on
scr d &. nefesS \ ftdpclary ,>>5
stock .4........'....... 1875 900 Is
by reduction in the rate of
taxation from seventy
cents to nifty cents on the
$fo0 assessed valuation on
capital ...,.,..,es....r.. aef'"oe.oe
Total ...........s 4ss. 0e0 90
''peductinE this amount from the ex-
pected and apparent surplus of t745,~
COO. there remains a surplus .of VIII
600 should the reduced rates of TAXA
ton not add many millions OF taxable
values now upon the tax books which
I believe will be added.
~ think 1t may be confidently ex-
pseted that tax payers win respond llo-
orally in reporting for taxation prop
reduced rate of taxation. In view OF
the fact. that the reduction puts own
srs of this class of property almost
upon an equality with the payers as
sessed upon real estate.
should Conserve Surplus.
TN my Judgment the most oenen-
can't use to be made of surplus 10 20
conserve IL so the rate OF taxation may
be reduced. rather than appropriate 1t.
thereby increasing the fixed charges OF
government. except In cases OK abso-
lutte necessity.
evidently the trainers of the consti-
tuition had In mind this same policy
when they wrote into the constitution
Of the state section ISIS which is as
follows:
mo other or greater amount OF
tag or revenue shall. ST any time,
ha levied than may be required for
the necessary expenses of the gov
ernment, or to pay tho indebted
ness of the state.
And undoubtedly that action must
have been influenced by the opinion
that, government which exacts from
q. people taxes beyond their capacity
cannot expect to prosper and VIII not
recefve the support of the people be-
cause the people are the state, and the
state which levies her revenue with
view OF making the burden as light as
efficient. and economicAl
= administration viii admit and as uni
Farm with respect to the different
o1as.es NJ tax PAYERS as conditions will