The fiscal problem in Missouri

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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 VI. Tax administration ( Continued)

Collection:: Economics Books

TAX ADMINISTRATION 181 influence, whose support is desired by the assessor, particu- larly when he is an elected official. It is not claimed that these factors were operative in the City of Columbia. It is possible that the results shown in Table 55 are more or less accidental, particularly when it is considered that farm properties in the same county showed an opposite tendency. Several factors may be cited in explanation of the local differences among the ratios of assessed valuation to true value for real estate. In the first place, real property assess- ments in Missouri involve the joint valuation of land and buildings. In very few cases in the same county is the actual distribution of total value between the land and the buildings the same, except possibly in the case of blocks or rows of houses in urban communities. Even in the latter there would be some variation resulting from differences in improvements. Furthermore, it is possible to appraise some properties much more easily than others. An assessor who is or has been a farmer is naturally better qualified to ap- praise the value of farm lands than the value of manufactur- ing and other urban properties. The correct valuation of manufacturing properties involves considerable engineering knowledge, and it is doubtful if on the average they are ap- praised with a degree of uniformity comparable with that found in the case of urban residential and rural properties. Moreover, rapidly shifting real estate values give rise to discrepancies. The factors affecting real estate values are numerous, and a correct appraisal of the influence of each factor is a practical impossibility. Another factor applicable in Missouri is the fact that the law calls for assessment according to true value in money. This implies a 1009, assessment, but in practice the average appears to be only about 55%, and it follows that the most the assessors can do is to establish some standard of value at a level far below 1009, of true value. If an assessor in any locality should make his valuations on the basis of even 959%, when the average for the state was between 50%, and 60%, it is doubtful that he would retain his office very long. The result of such an assessment would be a larger contribu- tion to state property taxes than could be justified.

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