The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-02-03
ssOs.ale.SON 81. SIS 7a5 700


Mr. A. V Louthan In his report adds
II desire Ia eau attention 10 few
facts which should be taken into con.
sidoration in connection with the above
totals The above totals show the real
estate OF Tennessee TO have been as.
sessed In 1918 at S60s9lS,50o The &C
tual cash value Of the real estate MS
shown above based on proof taken BY
the chief tax stauStician, is f,GGS
$4,000, There II likely something over
800 100000 in real estate values yet
TO be added to this total, This con-
ssts OF very valuable coal lands Ia
number Of East Tennessee counties
which have not been included In the
above valuations but which are in
cluded In the above assessments The
valuation OF such property Ia a very
Intricate problem and we are now try
ing TO work out A plan, with the rs.
sistance Of the chief mine Inspector Of
the state and his corps % assistants
that will enable US TO adopt stand
ard OF values for these coal lands
which will be uniform MS far as It ts
humanity possible to make II 30 and
which will he fair and JUST to the
county, 20 the state. and I'd the prop.
erty holder This class OF property
when finally valued will very materially
increase the valuations as shown above
In the counties where this property is
located. There is also some unva)ucd
property in smaller amounts scattered
throughout the various counties. These
valuations are yet 70 be added To the
above total. In addition TO this, there
10 also some large holding belonging to
several gigantic corporations. the APP
praisement Of which is not yet com
pieted. The magnitude Of these hold
ings and the complicated form ~ the
property Of some OF the industrial
plants makes II necessary 10 have eN-
pert appraisers for this class OF prop.
erty.
10 the valuat tons In POLK county which,
as listed above, Ia leSs than the 1918
assessment This Is due 10 the tact
that the property OF the Tennessee Cop
per compan ny and the Tennessee Power
company is still being valued and these
properties are not Included in the aboyt
total The property belonging to these
companies will very materially Increase
the valuations in Polk county
THE valuation Of the EiEan'ic plant
~ the Aluminium Company OF America,
At MaryVlle, ia not included IN these
totals The valuation Of this property
is not yet completed
We have already discovered some
eight or 10 counties which are uHder-
valued. but We have a Nnc ON the stu
alton and the counties are being as
sessed al actual cash value I'm Soy
erai Of these counties there VIII be "A
considerable increase even over the
proof taken by the chief tax statistjcJa3.
In the valuation Of the real estate
Of Davidson county the block from
Union street to Cedar street aud Nom
sixth avenue 10 the Capitol boulevard
and from the capitol boulevard 10 Sry-
enth avenue Is not included, as this
property win be taken over by the
state and county FOR the erection OF
memoria buildings However ID lbs
subject to taxation for 1929. and our
reason for not GeludnE the valuation
on II IL that the capitol commission
has appointed local committee Of real
estate men TO value this property Tor
the purpose Of purchasing 1t and We
do not desire TO emharrasS or work
At cross purposes with this commit
tee OF appraisers | intend 10 certify
the valuations fixed by this commit
tee to the tax assessor In considering
the totals Of Davidson county il should
also he taken into consideration that
the title to the gigantic tld Hickory
powder plant is vested tn the federal
government. and is not of course sub.
tect to taxation
"The above described uuva,ued prop
erty will result In the total value Of
real estate IN Tennessee being ra'ued
al from si.775 000. 000 to $500, 600 900
which will be something ike an in
crease Of 500, 100000 or more above
the valuation reflected above. In fig
urng on the state rate under the sid
ing scale. we must add to this all rail
road and public utility property
throughout Tennessee which IL being
assessed this year at actual cash value,
and we should also add the estimated
assessment on personal property.
Reports already coming in from vari-
Gus tax assessors indicate a very huge
Increase of personal property TIL
owners OF personal property. realizing
that the tax rate will be reduced under
this new assessment to a point that
tha.sfax will not be confiscatOry on the
income Of such property are bringing