Sequachee Valley news. (Sequachee [Sequatchie], Tenn.) 1896-1952, 1920-10-21
TAXATION
(From an Editorial in the
Tennessean.)

l
The constitution of the state pro-
vides that taxes shall be laid uniform
ly and equally upon personal, real and
mixed property, and that the proper
ties shall be assessed according to
their value.
This provision of the constitution
has been In force for half a century.
under 1t all the taxes of the state have
been assessed and collected.
There was but comparatively little
personal property in the state at the
time this constitutional provision was
adopted. Real property constituted
the vast bulk of taxable wealth.
AS personal property grew and be-
came one of the sources of the states
wealth, it amounted to confiscation If
personally was taxed at it's cost value.
If o note bearing the highest rate Of
interest-six per cent--was assessed
at it's cash value in the hands of its
owner, a resident OF the city of Nash
vile, 1t would pay a tex OF over three
per cent, leaving something over two
per cent to the owner, which, after he
paid Federal income tax, would
leave less than two per cent as re-
turn.
Cash value assessment of personal
property therefore meant confiscation.
Hence personal property was never
assessed at its cash value.
AS the constitution provided that
personal and real property must be
assessed equally and uniformly, the
practice has been unbroken to assess
real property at less than its cash
value.
This was according to custom and
law in other states.
But few states assess their real
property upon cash basis.
Governor Roberts came along i'm
bued with the machine politician idea
that If he could hire at the states ex-
pense two or three prominent politi-
clans in every county he could sue
coed himself as Governor and perpe-
tuate himself in power for a quarter
Of a century. In fact, Mr.. Louthan,
chief tax raiser, is quoted as saying,
If we can only get by this election
we'll be in clover for twenty-five
years."
There was an annual deficit of
about five hundred thousand dollars
a year, due to loss of revenue from
liquor licenses. This served as Gov
ernor Roberts excuse for his army of
tax gatherers.
For the purpose of giving reason
for the existence of this political
horde, 1t was decided to assess real
estate and personal property at its
cash value.
Bills we're introduced, and the bill
giving the powers necessary to assess
real estate at its cash value was
passed. The bill enabling personal
property to be assessed at Its cash
value failed because the owners of
personal property were better organ
ICED and threatened the Governor with
political death IL he passed the Todd
bill. He therefore had the bill put to
death and saved his own neck.
Meanwhile the expense of the army
of tax rafsers ran riotously along.
The enormous appropriation of forty
thousand dollars was soon wasted. It
was quickly, illegally and In violation
Of the constitution, supplemented by
the Emergency Board until now this
mob of taxraisers has cost the tax
payers Of Tennessee nearly hundred |
and fifty thousand dollars.
1t Is daily increasing as the Elmer |
gency Board stands ready TO run its |
hand into the peoples pockets and |
draw out all the money necessary to ]
In luxury these political aide |
de- camps OF Governor Roberts, called
'Statfstfcians.
Therefore It was found that assess
ing real estate alone at its cash value J