The fiscal problem in Missouri

Bibliographic data

Monograph

Identifikator:: 1833271335

URN:: urn:nbn:de:zbw-retromon-230042

Document type:: Monograph

Title:: The fiscal problem in Missouri

Place of publication:: New York

Publisher:: National Industrial Conference Board, Inc.

Year of publication:: 1930

Scope:: xvi, 359 S.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter V. Tax administration

Collection:: Economics Books

TAX ADMINISTRATION 155 churches, schools, and so on. In 1924 the State Tax Com- mission made an extensive survey of such properties and estimated their value as $528 million.! On the same basis the value of such property at the present time is no doubt close to $600 million. This exempt property does not enter into the tax base in any manner whatever. In attempting to reach intangible property other than bank stock the general property tax has not been a success. This applies to Missouri and other states that try to tax intangibles by means of the general property tax. In 1924 the Missouri State Tax Commission estimated that $2 billion of taxable intangible personal property was escaping taxa- tion.2 What the amount now 1s, it is difficult to state. In recent months certain statements which indicate that in- tangible property in Missouri amounts to four times as much as tangible property have been widely circulated throughout the state. The basis of comparison used is tangible property, not taxable tangible property, and it is doubtful if statistical evidence could be produced in support of so broad a con- tention. In the same report in which the taxable intangibles escaping taxation were estimated at $2 billion, the State Tax Commission said: “We believe it very conservative to estimate that the value of intangible personal property in this state equals the value of the real estate, yet the amount returned for taxation is only about 6.7% of the amount of real estate returned.” The smaller base used in this compari- son would seem to indicate that the recent statements alleging a proportion of four to one are questionable. It is an undoubted fact that the volume of taxable in- tangibles is increasing, and that the proportion reached for taxation is declining. In fact, in recent years there has been an absolute as well as a relative decline in the amount of money, notes, bonds, etc., listed for taxation under the general property tax. There are several reasons for the decline. In the first place, the general property tax is not adapted to the taxation of intangibles. Intangibles are not usually visible, and the assessor is often unable to obtain the | Biennial Report of the State Tax Commission, 1923-1924, p. 20. 2 Biennial Report of the State Tax Commission, 1923-1924, p. 20. $ Biennial Report of the State Tax Commission, 1923-1924, p. 18.

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