French Broad hustler. [volume] (Hendersonville, N.C.) 1916-1919, 1919-02-13
PROPOSED TAN LEGISLATION.

! THE General Assembly now in ses-
sion seems determined to deal with the
tax question in thorough and funda-
mental way. One of the most imp0r-
tant measures before it is bill re-
commended by the Corporation Com
mission, the Special Tax Commission
and the Governor, proposing an amend
ment to the Constitution so as to
authorize the taxing of income from
: property by the State as well as in
: come from wages, salaries and fees,
which are already taxed. There can
be no justification for taxing wage anG
salary incomes and exempting the in
come from property. Such a dis
elimination as this is not made in any
other State or country, and this dis
elimination should be removed at the
first opportunity.
A feature Of this proposal that is o.
great interest and Importance is that
IF this amendment is ratified, as it
surely will be if it is submitted, very
moderate rate Of income tax on income
from property as we'll as from wages
land salaries and fees will yield sur
property tax now levied by the State
for the support of the State Govern
ment and it's institutions, and will
leave all of the property tax from all
classes Of property TO the counties and
municipalities. We believe that this
will be very popular with the people
of the State, ii the knowledge that
this will be C0Ie will make it a great
deal easier to make a complete sue
cess of the Ger undertaking that this
General Assembly seems determined
to make, that of having all of the
property of the State listed and valued
according to it's actual value as re-
quired by the Constitution. If the
General Assembly makes positive pro-
vision to have every tax rate in the
State cut as near as possible in pro-
portion to the total increase in prop
erty values, under the new assess
ment and then provides by the sub
mission of the income tax amendment
for all of the taxes from the increased
property values to be used by the coun-
ties and the municipalities and the
public schools, we believe it will meet
with the highest public approval.
1t is the purpose of the Legislature
to continue the old assessment Of real
estate for the year 1919 so as to give
plenty of time to have the reassesS-
ment made in the most thorough way
to assure just and accurate result.
and the new assessment will not be
used until 1920, and then only after
all tax rates have been made to con-
form to the increased assessments.
AS before stated this General As
sembly is dealing with these funda-
mental questions in the most thor
ough way, but the public may be wei:
assured that it is not going to levy
burdensome tax rates. In the revenue
bill introduced in the House this week
the State tax levy for public schools
is increased to 80 cents, in the inter
est of providing for the six months OF
school. but the amount of the increase
in this levy by the State for the
schools is taken from the States levy
for it's own use in maintaining the
State Government and it's institutions,
and this tax for the use of the State
is reduced to IL 2-3 cents. This re-
duction is made possible by the in
creased revenue the State is now re-
ceiving from Inheritance, franchise,
privilege and license taxes.