The review. [volume] (High Point, N.C.) 1908-19??, 1920-08-26
THUS DOES OUR GRAND
OLD STATE PROGRESS
3ATN OF OVER TWO BILLION
DOLLARS TAXABLE PROPERTY
Much Lower Tax Rate From Now On:
Not Over 1929 Extra This
Year to Be Paid. .--..


Raleigh (SpeciaD The remark
able story of the revaluation of the
property of the State of North Caro-
Ina was told to the Legislature as
spmbIed in special session to levy the
tax rate One of the important fea-
rures is that the increase in taxable
incomes listed amounts to $20,931 ,O17
an which the State tax will be more
nan S260,0OO, or more than double
tae cost of the revaluation work. An
n{Der startling statement is that more
than a million acres of land were un-
paythed and placed on the tax books
+or the first time, while the number of
,ol1s we're increased 2O,754. Solvent
'redits showed an increase of $124,-
go .33S, and personal property listed
increased 1897, ,489,018, and real prop
errv increased 81, ,474 4,755, 100. At the
same time the value of the railroad
nroperty of the State was little
7oore than doubled, making an in
crease of S125, 5,169,6 $40. The property
Of tobacco companies increased $54,-
o44,167, the cotton mills STAT 7,314,713,
banks s13,991, $3.50, and the power COM
panies S48,152,9S2.
According to the scale of rates
worked out by the commission to pro-
duce only 10 per cent more revenue
this wear, Scotland county would have
the lowest rate at % cents and Clay
the highest with $1.3O, while the aver
ace State and county rate would be
IS cents for general levy, which in
cludes State, pension, school and
county.
The total valuation of property last
wear was s1,099, ,120,389, the average
rate of S1.45, revenue collected $16,-
032. .265.53, while the revenue for
1920 will be SIT, ,892.89 on a total
valuation of $3,139,7O5,O51, and the
rate average of 56 cents. This is an
increase of more than two billion dol
lars in the value of property in the
State.
The commission states its reasons
clearly for opposing a return to May
listing time because of the fact that
most business concerns must end their
Years business on December 81 oW-
ing to the Federal income tax laws
and the further fact that there is not
ample time for adjournment OF the
legislature in March until listing time
in May to digest the new laws passed
and set up the proper machinery for
carrying out the revenue act. 1t Is
further pointed out that under the
Nav l listing North Carolina, and
perhaps Virginia for that matter,
were being imposed upon by shifting
0f goods across the State lines. V1r-
ginia lists on aJnuary l, and after
listing time, the commission says, to-
bacco and perhaps other things are
moved into Virginia. Virginians also
purchase North Carolina peoples tax
free stocks, etc., until after listing
and then send them back by May to
hep out their good North Carolina
friends who. helped them.
The commission recommends that
the State and pension fund be com
bined, because it is really so now and
that the proceeds from poll taxes be
limited as the constitution provides,
to public schools and the poor.
A digest Of the statistics submitted
along with the report are quite inter
estng In total value of property OF
all kinds Forsyth leads the State with
S147,721,23 and proposed tax rate
Of 50 cents; Mecklenburg comes next
with ,4O6,625 and rate OF AZ
cents, and Guilford next with $l27,-
832, ,767 and a suggested rate OF 90
cents, while Durham comes next with
S122, ,729,1 157 and suggested rate OF
A cents. Then there is big drop IN
values to Wake with $87,122,735 and
yC4 - 4c. PJ7T0
with 8$6,246,28O, and 81 cents rate;
FGaston with $82,575,749 and 40
cents rate; Rockingham follows close |
ly with $78,263,3 1854 and rate Of 40
cents; and Robson with ST. 1,385,618
and a 48 cent rate. Wayne was close
behind
The commission also included col
umn showing the revenue Of each
county for general levy, including
pensions, school and county and IN
creased the 1919 amounts by ten per
cent to come within the law. Meek
lenburg was the biggest revenue pro-
ducer last year and will be so this
year with STAT, ,152.68; Guilford came t
close behind with $711, ,629.87, Wake
next with $575, 5,456.4O; Forsyth fourth !.
with $562, 2,72O.7O; Buncombe next with j
S536,466.05; then Durham with $5lz,- /
958.25.
Mecklenburg leads the State in the
value of real estate with $29,987,7OS,
Guilford comes second with $685.
1872; Forsyth third with $72,197'l73
and Buncombe fourth with $6O,3l9,- !
591, then Wake with $50, ,739, 1885, and
CASTOR with S50 2AA $50
in the value of personal property
Durham county heads the list with
66,65$1,182, Forsyth second with
S64,4O2,548, Mecklenburg next with
SAC, ,487,8O7, and Guilford fourth with
S30 894441. Rnckinoham next with