LEASING EXCUSE EXPLODED
It seems that the impression was
ill-founded that the state’s revenues
would be reduced owing to a sup
posed reduction in ad valorem assess
ments of property in the various
counties. Governor Brandon was one
of the first to express belief that sucl:
assessments would show a great fall
ing-off this year. On the contrary,
however, the total assessment is more
than twenty-six million dollars greater
than for 1922. Part of this increase
is due to assessment of properties of
the Alabama Power Company, wfiich
were not assessed last year, owing to
tax exemption, but there is a sub
stantial increase also in general val
uations. With the better organiza
tion and expansion of the tax com
mission’s forces, it is possible for this
showing to grow materially better as
Alabama’s evident and undeniable ad
vance in wealth is recorded.
That being the case the first im
pulse is to rejoice, not only that the
showing is so good, but also that Gov
ernor Brandon’s proposed four-mill
tax levy was defeated. Joined with
this is regret that a more accurate and
reliable estimate of the state’s pros
pective revenues was not furnished
the governor and the legislature, in
order that vital and necessary appro
priations could have been approved.
The state is suffering and will con
tinue to suffer from the unbusiness
like status in which it finds itself.
