, 1935-06-07

The assessed valuation placed by Cameron county
on lands and properties within its limits for the pur-
pose Of state and county taxation has been set by
the commissioners court Of the county at approx
mately ssi.s2s,Ooo. This figure represents a nearly
30 per cent in valuations as against the halycon days
of bond voting when the valuations scared TO above
$60y000000, and Is a reduction OF some $1,000 900 from
the valuations for the year 1884.
At the same session the court indicated that the
tax rate for maintenance and operations Of the county
would remain right close to the 1884 levy Of sac on
the 500 valuation. Obviously the cost Of operation
Of the county has not decreased in the past ~
months. but on the other hand the court has been
able to hold the cost OF operations down to the APP
proximate 1884 figure.
Yet Cameron county faces a liked tax levy which
will amount to close TO 33c on the 500 valuation.
The reason7 Interest on our outstanding county
obligations jumps this year to 5 per cent as against
the 3 per cent paid in 1884 and the 2 per cent paid
In 1888 under the terms OF the refunding agreement
with its bondholders. Tax rate for
bond purposes was set in 1884 at 46 cents. q levy
sufficient to meet the 3 per cent interest require
ments. Tax rate for such purposes with q 5 per cent
interest rate will have to be set at close 70 70 cents
II the amount Of money due the bondholders under
the refunding agreement brought about by the pre-
ceding commissioners court Is to be met.
It's either raise the levy. or pull a rabbit out Of a
hat"l
~ NhAA LAG PANoNhNo g OAC tkA8t II oCCAlo
Is almost heresy to discuss in the public print as re-
CARDS states and counties. though our water improve
ment districts have all taken advantage Of 1t and
boast Of their financial astuteness In so doing. This
alternative is to set a lower levy for bond require
ments, take what money the levy raises. and tell
the bondholderS to come and get it. that's all the
money we have, and to thus be In technical default
again on our outstanding bonds.
We do not wish to be understood as advocating this
third alternative: we are merely presenting the fact
that there is such an alternative.
We do know this-that our system OF valuations
and tax levies has just about come 70 the end Of its
rope as far as the maintenance Of local political sub
divisions such as counties, school districts and the
like are concerned. The system Is a political and
business mess. The same piece Of land valued at 500
by one taxing subdivision will find itself valued at
$500 or more by another subdivision and at $3.50 by
still another.
The collection of taxes is getting harder and harder.
the collection Of delinquent taxes would have made
practically no progress at all had it not been for the
vided the borrower with the money to pay up his
delinquent taxes and which forced such payments
II the loan was to be secured.
What shall be done? We do not dare TO venture
a possible solution. But We do venture the suggestion
that an immediate conference between the executive
heads OF all taxing subdivisions In Cameron county
and OF the county itself for the purpose OF giving
serious consideration to a possible solution might bring
constructive results. We further believe that the
question Of the Indebtedness OF these political sub
divisions is one Of such grave public concern and Of
such Importance TO the future OF Cameron county