94 UNIVERSITY OF COLORADO STUDIES 



the underassessment of property, the total assessed valuation of the 

 state increases but slowly, or even remains stationary, and the rev- 

 enues of the state institutions become wholly inadequate. In this 

 way the action of the local assessor, in refusing to assess property 

 at its true cash value as the law directs, is able to defeat the will of 

 the legislature and cripple the progress of the state by limiting the 

 amount of money available for the maintenance of state institutions. 

 To a considerable extent, then, it comes about that, as far as the 

 state institutions are concerned, the local assessors, rather than the 

 legislature, determine how much financial support they shall receive. 

 The demand for the abolition of the general property tax as a 

 means of taxing intangible property has been made for many years 

 by students of tax problems and writers on public finance. The last 

 recommendation for its abolition was made by a committee of the 

 International Tax Association, appointed in 1909. This committee, 

 composed of distinguished students of public finance and attorneys 

 of large experience in matters of taxation, made its report at the 

 Fourth International Conference on State and Local Taxation, at 

 Milwaukee, September i, 1910. Among the conclusions' are the 

 following : 



That the general property tax system has broken down. 



That it has not been more successful under strict administration than where 

 the administration is lax. 



That the failure of the general property tax is due to the inherent defects of 

 the theory. 



That even measurably fair and effective administration is unattainable, and 

 that all attempts to strengthen such administration serve simply to accentuate 

 and to prolong the inequalities and unjust operation of the system. 



This report was adopted by the International Tax Association 

 and its conclusions are therefore those of the only association of tax 

 experts in America. 



If the general property tax, in its present form, is abolished, some 

 other tax or taxes must be found to take its place, or a different plan 

 of assessment must be devised. Various plans have been offered. 



' Report 0/ the CommiUee on Causes of the Failure of the General Properly Tax — International Tax Con- 

 ference, Milwaukee, igio, p. 15. 



