TAXATION. 



53 



The real estate constitutes by much the larger proportion of 

 the property that is taxed in the State, the farms alone in 1873 

 representing^ a cash value of $105,021,000, or more than forty- 

 three per cent, of the reported valuation. This form of property 

 being open to inspection cannot fail to bear its full burden of taxa- 

 tion. As regards the method of appraisement of both real estate 

 and personal property, it is questionable whether a fallacious and 

 mischievous policy has not been adopted by a majority of the 

 towns in the State, a method which, it is true, has the sanction 

 of adoption by towns in other States, but not on this account 

 worthy of imitation. 



The idea has obtained in many towns that an under-valuatiou 

 of property, as compared with that of neighboring towns, would 

 secure a corresponding reduction of State tax. This policy is 

 fallacious, not to say dishonorable. The State commissioners on 

 valuation are sure to doom a town, and rightly, which seeks thus 

 to ga-in an unfair advantage. In part at least, as a result of this 

 notion, the method of appraising property for taxation at a certain 

 percentage of its actual value very generally obtains. This would 

 manifestly not be attended with special disadvantage if all the 

 towns of the State were to adopt the same percentage, but as 

 matter of fact the rates range from 25 per cent, to 100 per cent. 

 Of 97 towns whose percentages of valuation have been examined, • 

 seven are found to be at 100 per cent., one at 25, three at 33, but 

 the larger number ranging from 50 to 75 per cent. The average 

 for the 97 towns is 69 per cent. Regarding this as an approxi- 

 mately correct average for the towns of the State, it is worthy of 

 attention that the assumed tax of two and one-half per cent, on a 

 valuation (of tlie property in the State) at the average rate of 69 

 per cent, is really a tax of only about one and three-fourths per 

 cent, on the actual value. 



The advantages of uniformity in the methods of taxation are 

 too many and too great to be disregarded, nevertheless the his- 

 tory of taxation hitherto justifies the assertion that uniformity 

 can.be secured only by assessment on actual value and not on a 

 percentage value, whatever be the property real or personal. By 

 this method alone would the timber lands and other unsettled 

 lands. in the State contribute proportionally with other property 

 to the revenue raised by taxation. The percentage system runs 

 down to its minimum limit in the care of such lands, and hence 

 they are largely under-valued for taxation, while their actual 



