Chariton courier. (Keytesville, Chariton County, Mo.) 1878-current, 1922-02-10

full valuation the state jumps on him
for taxes on the full value Of all the
farm when he only owns part of 1t.
Where is your justice in this? You
say this is the law. Yes, and you
and your state board of equaliza-
tion knew it. Then why did you not
see to having this law changed before
you wrecked us with this unequal
burden Of taxation?
There is another law on our books
of which you are bound to have
known, viz: that bank stock can only
be assessed at par, no matter how
much its value. You know that the
supreme court has decided that bank
stock can only be assessed at par, and
you know that bank stock in Missouri
is worth all the way from par to two,
three, four, five, yes, some of it ten
TO one.
was talking to a banker about
my tay receipts, and from his confes-
sion and my tax receipts | believe
/ can give you a better argument
against the unfairness and injustice
of full value taxation of farm lands
than in any other way.
He said "a few years ago he bought
$1O,O00.00 worth of bank stock, and
said it has been worth four to one for
several years and pays 10 per cent on
ed at $86,000. .06-the land only worth
$40, 100000, but is assessed at par
value (sl0,O00.O0). Now l am assess
$50, 100000. Now / owe $40,000.00--
half-on this farm, so that at best /
possess only a doubtful $40,O00.0O
value in this 1s0 acre farm. And yet
my banker friend is paying taxes on
q $10,000.0O which is worth $4,000
90 0without doubt, and ! with a doubt
full tail hold on the same 100000
am taxed $50, 100000, besides, l must
pay interest on s40,O00.O0 which re
presents value in this land ! do not
possess.
In other words my banker friend is
paying taxes on $40 ,00g.Oo and j, a
farmer, on ss6,OO0.0O. For the .privi-
lege of owning the same amount of
this worlds goods my banker friend
pays about $4,000 per year while
your humble farmer friend who is
writing you must pay $4,000 plus in
terest on $4O,oOO.0O, about $2,sOO.OO.
So to swing on to my $40,000.0O I've
got to hit the ball to the tune of
about $3,50O.00 per year, while our
friend can toll not nor spin and draw
his 10 per cent on his $40,000.00, and
get by with taxes on $10OO0.00.
This is the sample of the justice of
your full valuation schemes. handout.
Now l am not saying bank stock
should be assessed above par. do
mot think that it should, and I think
the supreme court has wisely decided
so. You knew that bank stock could
be assessed at par, only a fractional
part of its value then why should not
land be assessed on the same basis Z?
You promised US full valuations
did not necessarily mean higher taxes
but it has. The law limited the rates
and the levies-and by holding valua-
tons down, the State Board of
Equalization, County Courts, School
Boards were limited. But now see
what they have done to us?
l read, about the small increase in
state taxes, and the law that county
courts could not increase taxes to
raise fund for county purposes in
excess of 10 per cent, and made a
trip to the court house in my county
and to Jefferson City to see about
this, and found that it meant the ag-
gregate and did not refer to the in
dividual at all. So that taxes were
reduced on the income taxes Of the
rich and decreased in towns and cities
where the money lenders live, but
from records in the Tax Commission
ers office ] saw with by own eyes the
farmers valuations HIKED. Here
in Boone county, l find farm lands
raised ais per cent--more than
doubled while town and personal
property decreased per cent, and ]
take it this is a sample Of what has
been done all over. Missouri.
And this shifting Of the burden on
farmers in the complaint Of the
farmer who was already struggling
with the inequalities of taxation.
short credit and no credits, and high
interests. and low prices for his pro-
ducts.
Until our laws are changed to tax
farmers and property owners on thei
equities and not on their debts, fun
valuation means wreck and ruin 10
Missouri farmers. No farmer should
have more than One-fourth Of his
land ~ corn and 4 alu,ove n,,t o,t