About the Book
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1919 edition. Excerpt: ...was variable until 1914 when it was fixed at 1% mills. In 1913 this state rate was 3.1 mills, making the total rate upon the securities listed for that year 6.1 mills, or a tax of $6.10 on $1,000. The regular tax on such securities at the present time is $4.50 on $1,000. The Maryland tax is commonly referred to as a 3 mill tax, but the facts show that the tax is exactly 50% higher than the popular impression would indicate. The Maryland law has always permitted virtual self-assessment, and the administrative measures have been effective only in Baltimore City, and to a lesser degree perhaps, throughout Baltimore County. Very little attempt is made to apply the law in the remainder of the state, and the results only emphasize the importance of adequate administration for the success of any tax law. With these facts in mind, namely, the very restricted scope of the law, and the large quantity of intangibles to which it does not apply, the rate of 4% mills instead of a 3 mill rate as is so commonly mentioned, and the very loose administrative standards which obtain in the greater part of the state, the results of the Maryland plan take on a new significance. The available figures are presented here: 1. Assessment of interest-paying bonds, certificates of indebtedness and stocks of foreign corporations: Year Baltimore City Baltimore County 1896 $ 6,000,000 not available 1897 58,703,795 14,000,000 1898 60,699,686 14,768,460 1899 61,890,764 14,265,708 1900 65,789,903 14,452,568 1901 68,879,484 12,736,213 1902 89,880,484 18,838,151 1903 94,336,562 17,946,574 1904 85,971,333 20,649,574 1905 104,221,227 21,807,345 1906 120,423,814 23,248,190 1907 150,947,733 24,827,570 1908 146,688,857 26,175,440 1909 148,234,110 29,806,605 1910...
