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Clarksville Weekly Chronicle
Clarksville, Montgomery County, Tennessee
What is this article about?
Comptroller Gaines projects Tennessee's 1878 state revenue at about $684,000 from taxes, penitentiary lease, and railroads, balancing current expenses; 1876 tax mostly collected, ten cents levy to continue.
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In a conversation with an American reporter, Comptroller Gaines said that the State revenue will about equal the current expenses, next year. About three-fourths of the tax of 1876 has been collected, leaving a ten cents tax, so to speak, of about $200,000 uncollected. The tax on realty this year will aggregate $200,000, while the privilege taxes will probably yield an equal amount, making altogether $600,000. In addition to this there will be an income from the penitentiary lease of $70,500, and a tax of $14,000 on railroads, valued at about $14,000,000, provided they all pay in their taxes, which is not altogether probable, some of them claiming charter exemptions. It will thus be seen that the total estimated income will be, in round numbers, $684,000. Making allowance for any deficiencies which may occur, the revenue will about balance the expenses for the year 1878. Under the law passed at the last session of the Legislature, the ten cents tax will be continued next year, leaving the next Legislature, unless an extra session of the present one should be called for that purpose, to change the levy if deemed necessary.
—Nashville American.
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Domestic News Details
Primary Location
Tennessee
Event Date
1878
Key Persons
Outcome
the state revenue will about equal the current expenses for 1878.
Event Details
In a conversation with an American reporter, Comptroller Gaines stated that the State revenue will about equal the current expenses next year. About three-fourths of the tax of 1876 has been collected, leaving a ten cents tax of about $200,000 uncollected. The tax on realty this year will aggregate $200,000, while the privilege taxes will probably yield an equal amount, making altogether $600,000. In addition, there will be an income from the penitentiary lease of $70,500, and a tax of $14,000 on railroads valued at about $14,000,000, provided they all pay, though some claim charter exemptions. The total estimated income will be about $684,000, balancing the expenses for 1878. Under the law passed at the last session of the Legislature, the ten cents tax will be continued next year, leaving the next Legislature to change the levy if necessary.