92 



UNIVERSITY OF COLORADO STUDIES 



Previous to 1901 intangible property was divided into but two 

 groups for assessment purposes, money and credits, and shares in 

 corporations. In 1901 the present tax law classifying such property 

 into eight groups came into operation. 



The tables show what is shown by the statistics of other states, 

 namely, the impossibility of assessing intangible property at its true 

 value. While the new law brought about an increase in the assess- 

 ment in 1 901, since that time there has been a great decline. What 

 proportion of the true value is represented by the assessment it is 

 impossible to say except in the matter of bank stock and bank deposits. 

 These items may be checked with the Report of the Comptroller of 

 the Currency. In 1908 when bank stock was assessed at $5,947,947 

 the Comptroller reported the capital stock of national, state, stock 

 savings and private banks and loan and trust companies in Colorado 

 as $13,869,479.^ The following table shows the proportion of bank 

 deposits assessed: 



PROPORTION OF BANK DEPOSITS ASSESSED IN COLORADO* 



* Blakey, Assessment of Property for Taxation, p. 74. 



Since 1901 there has been a general decline in the assessment of 

 bank deposits. Comparison of the assessors' returns of bank deposits 

 in the state with the reports of the Comptroller of the Currency 

 shows that in 1908, while the assessors found $406,980, the actual 

 amount was $101,035,363. Less than ^^ part was assessed. In 



" Report of the Comptroller of the Currency, 1908, p. 419. 



