The Chesterfield advertiser. [volume] (Chesterfield C.H., S.C.) 1884-1978, 1921-05-26

on the dollar within IL months time.
1t is not the solution, for the reason
that after putting all property on the
rolls at 100 cents on the dollar we
would still have an ad valorem tax
rate higher than the property now es-
Gaping taxation Consisting of social
ed instangible property can or will
stand. The owner of intangibles
doesn't have to stand a tax that
takes an undue proportion of the in
come from his cash and securities.
He can conceal his cash or invest it
otherwise and elsewhere, or shift his
securities, or call his loans, and there
by disrupt the industries of the COM
monwealth. If, therefore, the classes
OF property now escaping taxation
and which our law positively requires
shall be taxed at the same rate as all
other property could not be put upon
the tax books and kept there at any
rate we could hope for a result OF d
full and true valuation, surely there
is something wrong with the theory
of our law. Aside from the reason of
the thing, that theory is unsound be-
! cause 1T is impracticable. 1t is imprac-
ticehle because the industrial health
and development of state demand
and force recognition in practical tax
administration of the different eco
nomic characteristics of different
classes of property. Witness the out
law classification which now permits
the escape of at least 100000.
of taxable intangible property in this
State.
But the total ioss of revenue f-c:..
this class of property is not the only
or the worst evi! en,eiled. When you
make fish of one and fowl of another
under a law which forbids any dis
tinction, the entire administration
of the general property tax is de-
moralized and the net result is the
chaos and burdensome inequality we
have today. The higher uniform val
uation of property, with no increase
in public expenditure, would have a
nominally lower tax rate. But it
would lower no man.; taxes. If ex-
penditures were increased, whatever
the rate or mill levy, obviously the
higher valuation would not prevent an
increase of taxes actually paid by
property owners in exact proportion
to the increase in expenditures High
er valuation will neither pailiate nor
cure the disease.
If no real relief is to be had
through better administration, it is
to be found in providing additional
revenue from other modes of taxation
such as the income tax, the business
license tax, the Inheritance tax, etc. &?
That inquiry is pursued and various
forms Of taxation examined and dis
cussed in our report. The conclusion
is reached that the general rroperty
tax requirements and limitations of
the constitution would seriously in
terfere with the successful admins
tration of other available methods of
taxation, except in the case of the in
heritance tax. Certainly, handicapped
as we are by present constitutional
restrictions, We cannot reasonably ex-
pect to provide sufficient revenues
from other sources ever to reduce the
ad volorem levy to a point that will
admit of the practical administration
of the general properly tax" within
the law. Let us first take down the
black flag!
AS the first step toward sane re-
form and permanent relief we should
change the law by amending the con
;titution. j. III. Marion.