Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-04-07
Orders of the Dav

On motion by Mr.. Holley of Som
erset, S. D. 1873. Senate Reports from
the committee on taxation, Report
IA" fought to pass" and Report
"B." Ought not to pass" on bill an
Act amending the powers of the
Board Of State Assessors, in relation
to the equalization and adjustment of
assessments of the several munich
palities Of the State. was taken from
the table.
The pending question being the &C
ceptance of either report,
Mr.. HOLLEY: Mr.. President. this
bill was referred to the committee on
taxation and it relates to the taxes
divided report, each report being
signed by five members of the COM
mittee. It has been stated by hose
who are opposed to this measure
that 1t is an unjust and unequal tax
alton bill, but the idea of the bill Is
to equalize taxes. The idea of the
bill is to make it possible to obtain
revenue in some form from the in
tangible property in this State. I
believe that if this measure is passed
the State will receive from 100000
to $500, 900 from that source. I real
ize that it is not a perfect bill, and |
also realize that it abolishes some Of
the imperfections in a real intangible
tax bill such as has been presented
to this legislature in previous years.
The most outstanding feature Of
former intangible tax bills has Been
the listing act, feature which l
think we will all admit is obnoxious.
This measure does not carry a list
ing act with it. 1t simply provides
that the assessors in the various
towns and cities shall be asked by
the State assessors to book up" SO
to speak, the intangible property in
their various towns and cities, md
endeavor to make some reason2 BILE
adjustment with the owners Of such
property. think l have my posi-
ton clear upon the matter, and
l am for this measure, and for that
reason l move the acceptance Of the
Ought to pass report Of this COM
mittee.
Mr.. HINCKLEY of Cumberland:
Mr.. President. this is an intangible
bill for the tangible. In word, this
measure means simply this, if all the
members of this Senate are not &C.
quainted with it's provisions; it
means that the State board Of asses
sors can go into your town or city
and say to the local boards Of asses
sorS You must doom five million
dollars, or one million dollars, or ten
million dollars of intangible proper
ty in your town or municipality" and
that city or town is under absolute
obligation to find that property, and
those assessors must go to work and
doom the inhabitants of that NUM-
cipality. Instead of coming out with
straight, fair intangible bill this
monstrosity is brought forth that will
be uncertain, unfair and unworka bic,
and most Of the intangible property
consisting of stocks, bonds, etc, that
are paying five and six percent must
bear three or four per cent Just the
same as other property and leave a
person anywhere from one to two
percent On his investment in stocks
and bonds. If this legislature wants
to adopt such measure Of this they
may do 80. but cannot conceive If
1t and for that reason l move the in
definite postponement of the whole
matter.
Mr.. ALLEN of York: Mr.. Presi-
dent, being the chairman Of the COM
mittee on taxation before which this
matter was presented, feel that
perhaps 1t might be we'll for me to
say just word relative to this mat
ter. or perhaps l might say that |
have intent . to make a few remarks
on this question. However, the SEN
ator from Somerset. Senator Holley,