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 VII. The farm tax problem in Missouri

Collection:: Economics Books

THE FARM TAX PROBLEM IN MISSOURI 229 mortgagee will naturally endeavor to shift the tax levied on ‘he mortgage to the mortgagor if at all possible. As a matter of protection, mortgagees ordinarily have farm mortgages recorded, and they are therefore reached for taxation more easily than many other forms of intangibles. The assessors through the exercise of some little initiative can obtain information concerning the notes described in these instruments and unreleased on June 1, the assessment date. In some counties the county court has furnished the assessor with lists of deeds of trust unreleased as of June 1, and the State Tax Commission has repeatedly urged that the assessors make every effort to reach this form of property. In view of the relative ease with which the information can be obtained, there is little wonder that a larger proportion of farm mortgages than of intangibles in general 1s reached for taxation under the general property tax. Even if a farm mortgage is not assessed, there is always the likelihood that it may be assessed at any time. The result is that this factor is taken into account when negotiations are made between the mortgagor and the mortgagee, and the interest rate may be predicated upon the assessment of the mortgage, even though it is not later assessed. In such a case the mortga- gee naturally obtains a differential advantage in the return from his investment. PossiBLe CranNGEs IN Farm Taxarion It is generally believed that the most effective results can be obtained by the separate assessment of farm land and buildings. About two thirds of all the states provide for the separate listing of land and buildings on the assessment rolls. Land values frequently change much more rapidly than the values of the buildings, and it is only by means of separate assessments that the problem can be adequately met. It would therefore seem advisable to abolish the practice of joint assessment. If this change were made, the problem of obtaining uniform assessments in any county or other local government should prove much less troublesome. Every effort should be made to place assessments of farm property on a uniform basis throughout the state. This, of

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