The border vidette., 1932-07-30
TAXABLE WEALTH OF STATE
FALLS TO NEW Low LEVEL
Wednesdays Herald)

zOna TAX conference completed
its !abors late yesterday and sub
mitted to the state tax board of
equalization a net state valuation
for 1882 of 53,532,551. com.
pared with last years valuation
of 1914, 729, ,235, or decrease in
the taxable wealth of the state
of 1921, 1876. 684.
Little wrangling was indulged
during the day, the commission
holding to its decision that the
work of the conference was of
informative nature and that all
complaints should come before
the state board Of equalization
next week. After Commissioner
b. A. Hughes had announced
the final figures Chairman Frank
Luke called for comment from
anyone present and the confer
ence spent an hour discussing
various items and general valua.
tion matters.
The State Assessors associa-
ton presented a resolution which
that body had passed unanimous.
ly requesting the com mission to
bear In mind the economic con-
Gi,icns now confronting all
classes Of property and to equal.
ize valuations accordingly. This
brought a talk from Assessor
James Smith of Graham county
who EN- phasized the text of the
resolution.
Smith was followed by Chairman
Sam Seney Of the Pima County
Taxpayers association who de-
clared that the policy of four
counties in the state in seeking
to lower their valuations, with.
out keeping in mind actual value,
was hurting the state. Arizona,
he said, had been known in the
immediate past as the gold
spot, but that if policy of re-
ducing valuations below true
values was continued the gold
would fast turn to lead. Arizona
must attract eastern capital,
Seney said, if the state expects
to grow and could never hope
to attract capital il the state has
a high tax rate. He said that
be did not believe that Maricopa
county or any other county in
the state was bankrupt and that
be did not agree with those who
thought that Phoenix, or tho
state of Arizona, would never
come back.
Harry Saxon, of Wilcox, and
Henry Boice of Pima, spoke on
the condition Of the livestock in
dustry, and asked an equaliza.
ton of grazing land values
throughout the state. W. 81.
Matthews, publisher of the Ari.
zona Daily Star Of Tucson, urged
the necessity for the elimination
of property taxes, and gave his
views regarding proper sources
of tax income.
Cleon T.. Knapp, of Tucson,
was the first and only speaker
for the mines during the entire
conference. He emphasized the
common cause which faced all
taxpayers in the state, and told
of the history Of one mining pro.
perty in the state, which be said
would never operate again un-
less a sizeable increase ia the
price Of copper and a reduction
in the costs for taxation were ef-
fected. The new Cornelia branch
of Phelps Dodge at Ajo, be said.
was opened by the combined
capital Of thousands of stock
holders, the opening requiring
millions Of dollars before any
return was shown. From 1917
until 1882, he said, the New Cor.
nelia property had paid eight
millions dollars in state and
county taxes, fifteen millions in
plant construction, twenty mil.
lions ia wages and salaries. and
had not returned to its owners
an amount equal to that paid for
taxes. Ajo was described by
Knapp as a cemetery populated
by thirty men who were waiting,
with fading hope, for a return of
prosperity with general business
recovery" When Ajo closed
down. he said. copper was sell.
ing for less than six cents per
pound, and the tex costs alone
on every pound Of Aj)'s copper
prod uction amounted to two and
rine-tenths cents. Mining in
Arizona could never recover, be
said. unless something was done
to materially reduce that tax
cost.
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