The independent. [volume] (Elizabeth City, N.C.) 1908-1936, 1928-07-27
MILLI0N s IN
CITY PROPERTY
Are NOT TAXED
And Thus Is Explained Why
Taxes Are Apparently High
Figures Tell the Tale

This newspaper finds the
answer to Elizabeth CityS pre-
vailing high tax rate in the
startling fact that with the mil
lions of dollars in buildings and
real estate improvements made
in this city in the last seven
wears. the valuation OF city
property for taxation increaS-
ed only S79,6l5 from 1922 to
1927.
A. Elizabeth City grows in wealth
ana population more and more
revenue is required for the conduct
of the city administration. This
revenue should come fr IN increas-
ed vufaatioHs of preperty.'-'As nsT'
buildings are erected ana other real
estate improvements made, as more
automobiles and other modern
IuxurieS are bought. there should
he more property to tax each year.
In view of the fact that many
economies in the city ndminlstra-
ticn have been practiSed within the
past few years. the tax rae should
10 lower But taxes are not lower
because the tendency of wealthy
prnuerty owners l. tn hammer u""ii
tha vrluutinn of their prupertIsiear
after wear and yOur tax aSS''Snl :
Weld to the wealthy property h'Ia-
erS. Small property holders are h''
- favored
In 1922 the total real and p@rS-
Onal property on the tax books "i
Elizobeth City was SO j92.3oi
In 1927 the total real and pers-
on,1 nro,,ertv on the tax books ot
Elizabeth city was $1O.6T1.92O.
I'm the intervening five wears nun
lradS of rev residences were built'
a.ras of new store building erect
al scores of old pr: nertieS imploV-
oil RuiIding progress in EliZah%th
City has been steady Ill these year =
onJ speaks for itself. But 1t d"eSl I
oet mn the fax books. f +. Aydletf
snends more than S1O0.000 cH IL
block Of property on which he had
uraviouSlv placed price "f Sl5U.-
nc0 and this entire block OF Or; l.
ertv with all of it, recent improve
mani. rneS ON the tax books III S4Z.-
5OO This j. hut one OF many Ill
st,pces of how the big fellows are
especially favored.
In 1922 the valuation OF all cllE
property was $1c.592.$OI. In 1875
tbe fax listers had cut 1t down 10
42I42T. In 1924 they had g't
II Il, wu to slO.2I6.197. BY 1929 they
had got it down to S1O.O6o,S4o' OF
more than Il half million dollars less
than it was in 1922.
In 1926 the tax listers pushea
raIuotion uu a bit and Elizaoe'h IL
tftv's taxable wealth inventories
~ $40 2ZI.23S. according to the TAX
listers In 1927. following year ol
pre,t building activities incluinds Il
sr.p 900 virginia Dare Hotel ana
y s125 200 Carolina Theatre. the tax
listers got property valuations |S
IN &1p671, 800. The figures are NIT
comnIate for 1923. hut the budget
commission Of the city is appraised
that il should prepare its budget
for the year 192S-29 on an eStlma'e'l
valuation of S1O.50000O.
And Nd now we see why taxes re-
main stationery. The total value OF
real and personal property i'll Eilz-
abeth CITY is probably nearer SZo'-
GEO 600. If property were take" III
approximately its real value taxes
would be proporticnately lower anu
k,Ii, ,ahrth city would appear /" "'''-
si,I,. investors az II city with Il low
lax rate. -
Conditions in the county are II
ANYTHING worse than Ill town.