OCR Text |
Show STATE BOARD ADDSVALU ATION ; Nearly $33,000,000 Added Valuation of Taxable Property in State in 11)29. The stato board of equalization lias added nearly $33,000,000 to the valuation ot taxable properly for assessment purposes in 1929. And this comes Irani two sources; the mines and public utilities. To be xact: tha assessment on mines has increased $27.56S,3S9 and on public utilities $4,992,097 or a -total oi $32,561,086. The prevailing rate of taxation will be applied' against this amount and the money will go. to the counties in which these industries are located. It must be remembered that the piesent taxable wealth is approximately approxi-mately $700,000,000. This addition adds nearly 5 per ( eTTt for taxing jiurposcs. Five per cent is a very legitimate and substantial return on any investment. Now the question Is: W.hat will the taxing officials do throughout tTie tlate? Will they add to the burden of taxation because there is more lo lax or will they live within the present pres-ent expen'.Jtlures? The returns from all th'3 county assessors ire not yet iu; hut on account ac-count of the general prosperity through :ul the .tate it is ospcci.cd that valuations .Mill not decrease in any county except for very good and tubr-taiviial reasons. If the Uosas.sor.-s maintain the old assessment basis, the new valutfcn in the stale will be $773, 000,000. Uy ccanomiral ad-minstraton ad-minstraton of slate affair 'there is no reason why the stale cannot reduce re-duce 4 no stale tax from 2.4 mills to . 2.2 mills. This will tbe felt favorably by taxpayers tax-payers throughout the state and au additional 5 iper cent for taxing purposes pur-poses should be reflected in lower tax hills (o every taxpayer. There is no livduccmenl to tn-cres3.j tn-cres3.j the valuation of pmpcrly or to find new sources of revenue if the taxing oiucials look upon this 'as an opportunity iy spend more money. In bucIi a case it gives relief to nobody and since the present cry throughout Ihe state U "Relief from 111? tax burden" bur-den" his can be had only when tr-icl.cst tcoti-omy and efficiency are adhered to ro Vhat the increased val-natie.n val-natie.n v. jil bava real meaning to the burdened taxpayers. |