The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1921-12-20
THE TAX SITUATION
WITH PARTICULAR REF
FERENCE To CACHE co,

public debt of the various taxing un-
its Of the State is in excess of SAL,
100000. OF this amount about SO,
100000, represents temporary loans
carrying interest charges ranging
from six to ten per cent probably
will be paid after taxes are collected
this winter. The remainder OF the
public debt is in the nature Of bonds.
practically all of twenty years matu-
.rity, with occasionally an optional
ten year redemption.
Assuming the population Of Utah
to be 100000, the per capita public
debt is approximately $93., or $465,
for the average family. Figuring the
average interest rate as five and one
half per cent and allowing five per
cent a year for sinking funds, then
ten and one half per cent of the total
debt, or in excess of S4,300,000. must
be provided annually by the people
to meet standing obligations. If this
charge were distributed equally it
would mean that each man, woman
and child in the state would pay APP
proximately $3.50 and the average
family about s4s, a year ON the pub
lie debt.
But in reality that situation is
worse. The temporary loans for the
most part should be retired about the
end Of the year and that will mean
the setting aside from taxes OF about
SO, 900; then there will be the in
terest charge which, including the
short time paper, will amount to a
bout s2.0O0,000., and the sinking
fund which will amount to about to
s1,900.00O. The total contribution
toward the public debt this year,
therefore will be about -$7,400,000.,
or an amount equal to about forty
per cent of the total taxes to be col
lected in the State.
OF course, the interest charges
must be taken care Of when due or
the credit of the state or community
defaulting is seriously impaired. 1t
is to be hoped that the temporary
loans also will be cared for when the
notes fall due. But it is OF the ut
most Importance that thee be no
, failure to set aside sinking funds at
the proper period in order that it
may not be necessary to overcome
years of neglect in one year, and that
the bonds will be retired promptly at
maturity.
The data complied on the public
debt show the following distribution:
cities and towns, $12,719,507; Sc
hools, $11,2S9. 369; State, $10,535,-
900; counties, S7,05S,6SO. These fig
ures do not include about fifteen
towns in various parts OF the state
which have not yet reported, among,
them being Richmond and Wellsville
! in Cache County. The Indebtedness
of cities and towns represents for the
most part, electric lights, water
works public building and paving. The
school Indebtedness is represented: al-
most entirely by building activities,
The county bonded debt is almost en-
tirely due to road buildings as is 81
100000 of the state debt.
Now let us review briefly the tax
situation for 1921 from the stand.
point of the state as a whole, and
compare 1t with conditions in 1920.
Assessed valuation, 1920, $717,,
I52O.3S4. 1921. $6SS, O25,286. Differ,
ence. 500, 495,49S, decrease.
DISTRIBUTION OF TAXES
District and High schools
! 1920 1921 Difference
$S,566,7S1. : $9.1OS.2OO $5S6,469
increase
Cities and towns,
1920 1921 Difference
IsS,sS6,415 $3,7S6,145 s15O,27C
decrease
County General fund,
1920 1921 Difference
I$1,277S71 s1,222.7S7 s 55.134
decrease
Roads,
1920 1921 Difference
s2,481,141. $2,O6S,6S7. sS62,454