The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1922-08-26
REVIEW OF TAX C0MNls sion
SOME OF THE WORK OF THE SOUTH
CAROLINA TAX COMMISSION AND
RESULTS ATTAnED THEREBY

since 1915 has been due to acca-
mulated profits and additional cap
stai invested
In 1920 the assessment on banks
throughout the state was reduced
sS.Ili,575.00. on account OF an act
Of the general assembly requiring
the tax commission TO allow a de-
duction Of an amount not exceed
ing % per cent OF the capital and
surplus OF any. banking corpora
ton invested in United States Lib
serty bonds or Farm Loan bonds OF
the Federal Land Bank OF Column
sbia.s =.
.ssf 43s. .634.0e in Taxable Property
.idded in The Case OF Four
Activities.
The next classes of property to
be eaualized, by the commission
consisted of cotton mills, cotton
seed oil mills. fertilizer plants, wa
ter. light and power companies.
In 1914 the total assessed Nal,'
of cotton mills was the sum OF
ss2s, 49,, ,09o.0e. In 1921 the total
assessment was s54.722, 10000. OF
which increase s3.25a. 10000 was
new properly: leaving a net in
crease. by the commission of s2l,-
sss5, ,43e.00,
The above assessments were
;eqnalhed on a ~ per cent basis to
correspond with that OF the as
;sessment on banks
With better facilities afforded the
tax commission for examining into
and discovering values. it was
found that by reason of the plan
Heretofore in vogue Of assessing
cotton mills on a spindle or capital
stock basis great ineeua ities ex-
isted as between various mills and
large property values escaped tax
alton. ..,
The commission now requires the
cotton mills to show. not only the
number Of spindles and capital
stock. but all property which has
been constructed or accumulated
through profits or earnings OF the
mill. or otherwise. .s.s Is.
In equalizing water, light, pow
er and street railway companies,
which classes of property are
usually operated in conjunction, the
.conanaission found that IN 1914. the
year before its creation, these prop
critics were assessed at S4,443, 434.-
.00. III the process of assessment
and equalization as applied by the
tax commission, these properties
were increased to s13,441. $500,
Or an increase Of ss,ssS,48L00. OF
the above net increase s2,15o,ooo.oa
represents new property, leaving q
net increase, as made by the COM
mission Of 81, 6,S48. .4S1. 90, despite the
fact that properties in this class
assessed at s963.000.o0 were los
to fhe state on account of being ac-
CURED by municipalities.
In 1914 the total assessed value
OF. cotton seed oil mills and fer
stiiszer plants was ,0s4, ,277..00. Al
ter examination of their values and
applying the rule as to equaliza-
ton, they were increased to se.'
634, 900 .89-a net increase OF 81
599,T23.9s. This increase was
made. although several fertilizer
>plants and oil mills were dismantl-
ed in the state, and there has been
no new construction.
Hfastrafioa OF Discrepancies.
70 Illustrate discrepancies Of as.
sesscments on this class Of prop.
erty:: ii was found that one powe,
company had one Of its transmits
sion lines in three counties. In one
COUNT il was assessed at s500.0G
per mile: the second county at ST..
500. 90 per mile, and in the third
county at s2,5e6.oO per mile, tbs
line being of uniform value
throughout the three counties.
# is no reflection upon the county
boards that so great portion OF
the above mentioned property es.
capped taxation, and that there were
such varying assessments put az
property of uniform value, It j:
an exceedingly difficult task to as
certain the value of such propert!
and the local boards had little op
nartr1nity or facilities for sucf
work.
The commission has accomplish
ed this result after several year:
of investigation and examination
into all the data that it could. OBJ
tain in this and other states.
IN 1914. the total railroad assess
ment was s42,s37.o42.0o, which
has been increased to s4s,7oo,Ss7.
GO, or an increase Of s5,s63,355.00
This includes sone new construc
ton.
Due to the especial attention tina
was given to the assessment o
railroad property a few years be
fore the tax commission was ere
ated. by Honorable a; w. Jones.
at that time comptroller general
and formerly chairman of thi
commission. railroad property hat
been reasonably assessed. .Durin.
one year, 1907. as a result OF hi
special Investigation. about .$12,
500, ,0o0.00 was added to the as
sessed value OF railroad propert,
in South Carolina.
IN 1914 the aggregate assess