The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-04-05

~.
tn OF Gov Roberts, senate bill No. lf5 wa
ok enacted, which provides for the assess
sy ment or these corporations. Severa
tn ilnllon uoliars worth OF property be.
longing 70 THIS class OF corporations wal
a. placed upon the tax books in 1919 10,
ic the nrst Time in the history of the statr
H. ana Tor the first time helped TO bear Inc
0; burden OF taxation. This same law
That the railroad commission NJ tbe
- state of Tennessee are haroh
-, - authorized and directed to assess FOR
h. taxation, for state, county and muni-
,e clpal purposes. all OF the properties of
= every kind and description. Tangible and
Intangible, within the state belonginr
- 10 me Following named persons. COM
, pahles, corporations, firms, oo-partner-
), shlps or association of persons, herein
h atteI reierfed 70 as companies. namely:
IS ~ Railroad; CD Telephone; (S) Tele-
o graph 90 Sleeping car: 90 Freight
L cars t6( Street cars: (7) Power
@ whether hydroelectrc, steam, or other
u KINDS; FOR the transmission OF power;
Z; | % Express; 90 Pipe lines, (t0 Gas
~ companies; uD Electric light COM
: panies The railroad commission shall
assess all of said property biennially al
us actual cash value as OF the same
uate inc properties OF other persons
are by law assessed"
1t has been industriously circulated
by certain influences In certain sections
OF the state that property belonging
10 such companies would not be as
sessed AT actual cash value We desire
az this time to very positively assure
the taxpayers OF the state OF Tonnes
sec that we are now diligently engaged
In ascertatnlng the actual cash value of
every form and character OF property
oelonBlhg 10 railroads, telephone COM
panles, street car companies, electric
llEht companies. and all other public
utility companies, and that We shall
without rear or favor assess every dol.
lars worth OF this property ut its ao-
tual cash value Just as the law directs
IL Is the purpose of the railroad COM |
! mission to leave no stone unturned in |
It's efforts TO determine accurately and |
| comletely the actual cash value OF this |
class OF property and TO assess same at |
! its actual cash value. TO that end |
! we ara employing expert auditors and |
! accountants to audit the books and re- /
turns of such corporations, and we
! are employing expert appraisers to as
sist IN the appraisal Of the physical
property or such companies. We further |
expect TO obtain, II possible full
record of the proof assembled hv the
interstate commerce commission to be
used by the federal government IN vam-
ing the railroad property for the pur-
pose of fixing a base valuation. upon
which the income guaranteed 10 the |
roads by the federal government will
he calculated. Every element which
contributes to tho value OF such prop
/
sidered, and when the actual cash value |
OF such property is ascertained. Il will
be adopted rs the assessment OF such
property. The efforts being made TO
convince the people that public utility
property viii not be assessed Mt lis
actual cash value and that II will bear
less than It's proper proportion OF the
tax burden under the present admins
tation Of the assessment laws, are
purely political or demagogic, and any
such statement Is without the least
ssemllanoo of foundation In fact and In {
truth, j
over q, ooo, ooo. 900.
II appears from the work thus far | '
done by the chief tax statistlcian and | \
from the assessments thus far made hy i
the county, tax assessors, and from an 9
estimate of the assessment of al classcs u
or personal property and of railroad and y
public utility property. that the nEgro- O
gate assessment for tho state OF Ten | y
nessee for 1920 win be well above S2,- q
200. 000 and based on these osti- ~
mates the state rate will he reduced ~
from 20 cents for all state purposes 10 n'
about 20 cents for all state purposes | ~
Wo desire 10 say TO tho owners OF real "
estate IN Tennessee that we are dit ~
gently day by day undertaking 10 un. ~
eafth and place upon tha tax books the
personal property, TO the end that Il a,
nay bear Its proper proportion OF the "l
AK burden. realizing that every time n "
lollar's worth of personal property is 81,
,laced upon the tax books the burden Ia le
'roportlonately reduced on roal estate. nc
n certain counties whore the assess te
nent Of personal property has been Of
idculously low heretofore, n appears IN
hat we are going TO be able TO In ri,
reaBe tho personal assessment seven 90
r eight times In such counties
The state board OF equalization soon 10
ftor Its organization was able TO dem. Air
natrato very thoroughly the impossi- ho
ility OF making fair and impartial as. Of
essmont by the application OF any per- | M
cntage rule to the former assessments an
hree concrete cases. one from each ma
rand division of tho state, which we tai
III now mention, show the utter wrong ella
proceeding by any other method than br,
10 plan OF this board TO value zach iud
Ieco and each Gloss OF property AT it's an'
ltual cash value. hoo
Ono corporation In West Tennessee .
nB assessed in 1915 at "a little over iea
100. 900. The sworn testimony OF wit az
'sHos acquainted with tho property ~
lows thu II should have been saBossod ",
about fab00,00 On tho other hand ~.
oof taken by this board shows that eN,
ere are many thousands OF pieces OF \
operty In West Tennessee assessed at as,
ON Do per cent. To 20 per cent, and NJ
me even as high as 90 per cent. OF hes
cir value. II viii be seen that by tho on +,
plication OF the percentage rule 10
ESQ various properties doubling the tho
aoaHmont. for an illustration. the nttt
upurty of this corporation would have | 90
on nahesstu at ohe-ntth OF us value cros
lile the thousands OF other taxpayers tax,
'uld have had their property assessed tAx,
from 100 Ter cent 10 1850 per cont mai
It's actual cash value toto
N East Tennessee large foreign bet,
-poration had it's property assessed purl
1891. 900. From the present status OF of I
proof taken IL appears that tho the
,periy OF this corporation Is worth ma i
100000 or more. Tho property OF nceC
= corporation ia likely assessed at g.
lut per cent. Of it's value. The have
lpcrty of the county Ia which tho tain
poration Is doing business. under tho 81 n
assessment. was assessed at about Nj
per cont. OF its value. II the per- you
tago rule had been applied and the exist
essmont doubled for tho entire stat,
nty. this corporation would have anal
n nssessod at S522,000 instead OF S. fact
600. When the property or this COM ing
" f. brought TO 100 per cent OF It's WINS
40 II viii pay likely ono-third OF the iStra
cs OF the entire county II tho per- and
tago rule had been applied, IL would had
g paid approximately one-twentirth | rum
tho taxes of tho county. In other since
d.. the honest taxpayers and land state
iers would have continued to pay tho yct
~ Of this corporation. The
Middle Tennessee tho proof before could
board shows that certain core nlmo
alton is aHBHHasd with g., QUO acres state
land. The corporation itself has want
med r5 that od5 osqs iaooo acres Of Of w b
raj government that ita real estate mind
~ was worth s. g1G. 900. while D. b. this
ased lea the state OF Tennessee with tho n
lt $40 600 on its real estate. This tho r
e. corporation told the federal gov nm To
ueut that - owned sl.-l3.Og0 in on a
htnery alone and 81I7 600 iu cash. | IS RI
Il Is not assessed With a dollar keepil
PERSONAL property On the state ffI
percentage rule had boon applied