The Birmingham age-herald., 1917-07-14
5-MILL TAX
 ENTIRELY TOO HIGH STATES [. B. ROGERS
Favors Reduction of Tax to Two Mills, Claiming That It Would Be Ample
 for City's Needs

C. B. Rogers. candidate for the presi- dency of the city. commission, gave out a statement last might in which he out lined his views on the 5-mill tax levy by the city for the sinking fund of it's bonded indebtedness The statement is in answer to the resolution passed yesterday by the Birmingham Real Estate ex- change, in which the candidates for the office of city commission are requested to give their views on the matter. MT. Rogers declares the levy too high and states he favors a reduction of the pres ent levy.
 T am indeed glad of this opportunity of expressing may views on this important subject" said MT. Rogers, "as l have given the matter a good deal of thought and had expected to investigate the legal status and If I found that the levy for this sinking fund could be reduced with out imparing the city's credit I would make it one of the principal blanks in my platform. The 5-mll levy which was made and collected by the commission of Birmingham on it's real and personal tax valuations for the year 1916 amounted to $51s, ,153 40 and the interest on general city bonds of Birmingham. payable out of special levy. is s156 600, leaving bal ance from such special levy of 5 mills of s361, 1858. 40 for the year 1916 deposited to the credit of sinking fund for the purpose of paying off outstanding bonds amounting to $2,044O00.
 SINKING FUND
 Assuming that there is in the sinking fund at this time s7S6,S199S, which if de- ducted from the bonded debt of $2,044,000 to be paid out of this fund leaves bal ance of 1,257, 1S0.02 to be collected, which would only require the collection of taxes on the present valuation and at the pres ent rate of a little less than three and one-half years Inasmuch as the due date on the last issue of these bonds is July, 1931 it is clearly shown by fig ures here quoted that the taxpayers of the city of Birmingham are being re- quired to pay almost Il years in advance on part of the bonded debt above re- ferred to.
 "As business proposition this would be considered an unwarranted and unnecessary hardship on the tax payers in this city. A levy of mills on the present taxable valuation of real and personal property in the city of Birmingham for the remaining life of the bonds referred to would yield an annual income of $207. .26J per an- mum. a total of s2.901, TOO for the 14 years which the bonds yet have to run.
 WOULD BE SURPLUS
 "On this basis there would at all times be a surplus in the sinking fund after paying the bonds as they fall due. As a business proposition the city commission should not levy a tax in excess of a rate that would yield an income of more than a sufficient sum of money to meet the bonded indebted ness outstanding against the city, as provided for in a special levy, author- ized by the state constitution of 1901, article Il, section 216 which provides as follows: That the city of Birmingham may levy and collect a tax not to ex- ceed one-half of l percentum, to be applied exclusively to the payment of interest on bonds of the city heretofore issued, in pursuance of law, or now au- thorized by law to be issued and for Q sinking fund to pay off said bonds at maturity
 THE MINIMUN LEVY
 This law provides for a maximum levy of one-half of one per cent, but does not fix a minimum levy. It would appear, therefore that the amount of the levy is left in the discretion of the city commission provided the levy is made for an amount sufficient to pay the bonds as they become due It is my opinion that the present rate of mills is too high and should be reduced to an amount not to exceed mills, thereby reducing the burdens of the tax payers more than S300.000.
 Assuming that the city has on hand at this time to the credit of the sinking fund s7S6. 6.S13.9S, it is not necessary to continue the present high levy for the benefit of said fund.-