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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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VI. Tax administration ( Continued)

Collection:: Economics Books

TAX ADMINISTRATION 169 is held at the state capital, and township assessors meet with a representative of the Commission at the county seats. Some progress has been made toward improving conditions, but it seems certain that more effective supervision is needed. In order that the variations between counties might be studied, data concerning real estate transfers were obtained for certain years, which indicate the ratios of assessed valua- tion to sales value. While it is true that a particular prop- erty is not transferred sufficiently often for the selling price to constitute an absolute standard of assessment, it is also true that when a property is transferred under conditions that are not unusual its sales price can be used as a guide in de- termining the valuation of the property in question as well as that of adjoining properties of a similar kind. If a suffi- cient number of properties are transferred, the ratio of assessed valuation to sales value for a county or a city, as computed from the assessed valuation and sales value totals, should serve as definite indication that property is or is not assessed at its true value. Manufacturing plants constitute an exception. When a manufacturing plant is sold or merged with another concern, it is usually either a very suc- cessful company or a rather unsuccessful one. In the one case, the sales value might be very high as compared with the assessed value, and in the other, very low. Accordingly no manufacturing properties are included in the data here presented. The data are in the nature of statistical samples, and this limitation is taken into account in interpreting the figures. For example, it is not contended that real estate in Missouri for taxes of 1929 was assessed on the average of 55%, of true value. It is merely pointed out that a large number of real estate transfers showed an indicated ratio of 559, of true value. This difference is important, for when the sample represents a relatively small proportion of the total number of properties there is no warrant for drawing broad con- clusions. Table 49 shows the results of a real estate study made by the Atchison, Topeka and Santa Fe Railway Company in seven Missouri counties in 1922. The combined data for the seven counties show a ratio of assessed valuation to sales

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