The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-02-18

ton for years prior to 1915, during
the calendar year 1915, was S1l0.66o,-
ALB.
Income Il Adequate.
The system OF partial segregation
has been in force In Virginia since
1915. and under its operation. tho re-
port declares, adequate annual reve-
nue. is realized to pay the annual hxed
charges of the state. Under the plan,
the report reads. less state and local
taxes combined are imposed upon all
intangible personal property; II pro-
vides the moderate rate Of twenty
five cents on the 500 assessed valua-
ton of money. taxes for state pur-
.Joses only. Under 1t the stats license
tax upon merchants Is reduced, the
total amount OF which license taxes
is about one-half OF the amount the
state realizes from all license taxes.
In addition. the state tax npon real
estate and tangible personal property
has been materially reduced. the rate
now being ten cents on the 500 Of
assessed valuation instead Of thirty
five cents as formerly. This ten cents
Is used exclusively for the support OF
the public free schools. From this, It
Is seen, with the exception of this
small tax. all real estate and tangible
personal properties 10 taxed by the
'o""' authorities at the rates prescribed
by them.
As to Tntanetbaes.
While It Is true that in some local
tiles it has been found necessary to
add the twenty-five cents reduction in
the state tax to the local levy, the
continuance Of the rate upon real
estate and tangible personal property,
including the state rate Of ten cents,
G CIR 40 NJ a tn 70
combined upon intangible personal
property. This condition Is due In
large measure to The fact that neither
real estate nor tangible personal prop
erty Is assessed at fair market value,
as the constitution and law OF the
state require. whereas all intangible
personal property Is assessed at
fair market value
Would Reduce Rate.
: Auditor Moore calls attention OF
! local authorities to that fact that real
n-a not assessed at a ea'r market
-o'"". Re declares that y this was
ton" " w""'S result IN a material re-
du~ttou IN the rates Of local taxation
Hrd wor'5 yield the same revenue to
he localities as upon the present as
sessmerf At the present rate Of tax
alton There - only one oh lection 10
this n,"p Mr., Moore states that be-
ing that real estate and tangible ner-
eenal property belonging to public
serv'ce corporations In the several To-
calfties would rot be placed on the
same basis of assessment and taxation
as that of other real estate and tam
eible personal property. and this OBJ
stacle VIII not be overcome until the
system of partial segregation is made
into complete segregation.
a Reform Carried Through.
Mr.. Moore staes in he repor that
when he came into the Office Of audi.
tor he discovered that 4. large amount
~ taxation was annually escaping the
state. and this brought about the an
nua1 investigation Of tax assessments
by grand turios which ne savs sN>w-
= the in"nnalities Of the tax system
then employed IN Virginia THIS led
70 the adon""n OF the partial seere-
cation system by the 1915 Legislature,
'''>t"h nv ewing lower rate on IN
fane,hles has made a lone step In the
erection of enualivat'on OF taxes as
between tho owners nf under- ass~ssnd
real estate ana the owners Of hidden
wealth. heretofore escaping taxation
Hnt'rely. This plan has worked we'll,
nut conNtfions are not yet ideal.
In stating that owners OF real estate
&
contrary to their own interests and
nose or others when they do not
welcome fnll assessment Mr.. Moore
states that - owners Of this class OF
prop"rtv raid on adequate assess
'nenfs II wou'a abolish the excuse for
he N''fne Of irtanpibles. 80 widely
pracficed throughout. the state Where
mere are under assessments no says,
me tax rates must necessarily be
hishor. tn" following are reasons
pointed ont for the under assessment
or real estate in Virginia.:
| Rs@eo"a Tor tr.tlcr-Assrasu,~nt.
| First Real estate and personal
pronertv are now assessed by different
ohcials, consequently the. results Of
the action OF the several taxing au-
thorities materially differ. and will,
necessarily, continue to differ until .
system Is introduced which will lay
down for the different taxing Authori-
ties a definite principle for the action
Of all by which will be co-ordinatsd
their several actions
second. The state school tar 10 a.
sessed upon property values real and
| personal. and distributed upon 1 per
| capita basis according to schoo, mop
nlation. Under this arrangsnaent
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