NEED OF A STATE TAX COMMISSION IN COLORADO 99 



The table above shows a great increase in intangible property 

 in the state. Its valuation for purposes of assessment has increased 

 faster than real estate, and it now equals one-half of the total assess- 

 ment of real property. "In other states it varies from i to 12 per 

 cent of the assessed value of the realty."" 



Since 1896 Maryland has placed certain securities in a special 

 class and limited the rate of tax which cities may levy on them. 

 The local rate may not exceed 3 mills, and the state rate averages 

 about 1.6 mills, the total levy therefrom approximating 4.6 mills. 

 It is said this legislation has been vigorously supported by public 

 opinion, and that evasion of assessment is frowned upon. At any 

 rate the assessed valuation of this class of property has greatly 

 increased. 



ASSESSED VALUE OF SECURITIES TAXED IN THE CITY OF 



BALTIMORE * 



1896 $ 6,000,000 1902 $ 89,900,000 



1897 55,000,000 1903 94,300,000 



1898 55,000,000 1904 85,900,000 



1899 61,900,000 1905 104,200,000 



1900 65,800,000 1906 120,400,000 



1901 68,900,000 1907 150,900,000 



• Btjixoce, ibid. 



From the above table it appears that the new law taxing intan- 

 gible property at a lower rate has brought out of hiding an amount of 

 property sufficiently large to yield a greater revenue than was possible 

 under the old general property tax law taxing such property at 20 

 mills on the dollar. 



Uniformity and equality in taxation does not mean that all kinds 

 of property shall be taxed in the same manner and at the same price. 

 Constitutional provisions providing for uniformity in taxation do not 

 preclude the possibility of classifying property and taxing it at differ- 

 ent rates. The Supreme Court of the United States in the case of 

 the Pacific Express Company v. Seibert^ says: 



This court has repeatedly laid down the doctrine that diversity of taxation, 

 both with respect to the amount imposed and the various species of property 



• BuixocK, ibid. ' 142 U-S. 3Si- 



