Author Description

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1911 Excerpt:...by a special deputy, in which case the new assessor shall receive the pay which would otherwise revert to the original assessor. In case any citizen is aggrieved by the assessment made by the local assessor and approved by the local board of equalization, he has the appeal now authorized by law; in case any county, town, city or any twelve citizens of any one of these feel aggrieved at the average levied, they shall have appeal to the Circuit Court of the City of Richmond for a modification of the average, with the costs on the plaintiffs in case the average be sustained. Advantages of this System. Careful investigation of the systems of equalization in other States shows that this is the best and most efficient that can be devised under existing conditions. Its advantages are numerous, its operation is simple and its results--if the experience of other States be a guide, cannot be otherwise than satisfactory. Some of the advantages of this plan may be enumerated here: First, its assures uniform valuation at a rate required by law. The fair market value is manifestly the value of property sold on the market. Reliable transfers show values on the market. If these be accepted as the basis and land be assessed accordingly, all land is manifestly assessed at its fair market value. Thus, undervaluation with all its consequent evils, is impossible. Second, it will re-establish that equality in taxation which lies at the basis of our legislation. When all land, in all counties is assessed at what that land brings on the market, then equality is established. The only differences in the taxes paid by the citizen of Smyth and the citizen of Southampton will be the difference in the value of property held by them. Each will pay precisely in proportion to the market va...