Annual value de seasons and other circumstances. ferent crops grown being more hazardous, and not so commonly saleable as corn. The annual value of property depends pends upon upon such a variety of circumstances, that it is impossible to form a rule for computation that would apply to all situations. So much depends upon the seasons, the price of produce, the value of labour, and other expences, which are always variable, that it is extremely difficult to ascertain the profit to be divided betwixt the landlord and tenant, which is the subject of the rate. Such calculations may be formed to suit the particular locality of the farm; but unless it be conducted with great care and skill, very erroneous results may ensue. The rent is so small a portion of the value of the produce, that if one item be omitted, or any thing be overcharged in the calculation, the remainder, namely, the rent, is presently increased or diminished very materially. When an important alteration The value of rents seldom remains stationary long together; and when any imin the value portant alteration takes place in the dif takes place the annual tionately The relavalue must tive annual be kept in view. ferent expences and value of produce, it is of produce, then necessary to make a suitable alteration value is in the rents. And if the value of all de- proporscriptions of property be not equally affected. affected by the change of times, the above modes of calculation may then be adopted for forming a standard, whereby the rents and rates may be regulated and rectified; but for common occasions, where rents are equal, and the tenants appear satisfied with them, it is found the safest plan to judge by the average paid in the neighbourhood, making due allowance for local convenience or disadvantage. Nor is it very material to ascertain, very minutely, the rent of land for a rate, in townships where no trade is carried on; for if any certain rate be fixed on one field, whether above or below its annual value, the rate will be equal, if a relative and proportionate value be fixed on others, whether the scale be high or low. The sum required for the relief of the poor, from each occupier, is not regulated by the high or low scale of value on which the rate is framed; but by their Rate will not hold it exceeds the rent. wants and necessities. Where buildings, appropriated to trade or pleasure, are in the same township with land used in agriculture, the scale of value should be preserved throughout all the property; and, as the rate is laid upon buildings in proportion to their average rents, so the rent of land should be ascertained, to secure the equality. On this account it is necessary to have in view the annual value, when fixing the rate of land. Land is seldom rated to the rack-rent, good where because if, in any one instance, the annual value in the rate exceed the rent paid to the landlord, the rate will not hold good, unless it can be proved, which is in most cases very difficult, that the property is rented below its real value. It may be supposed, that the rent actually paid is the fair criterion of the value of property, as it yields neither more nor less profit to the landlord than the sum paid to him; and this profit is held by some persons to be the proper rateable subject. But if such a principle were adopted in townships, where different proprietors let their lands at high and low rents, the rate would be as unequal as the rents, operating severely on tenants under rack-rents. Besides, a difficulty would arise, where a proprietor occupies his own farm, whether it should be classed with the high or low rented. No yearly sum being actually paid, it would be necessary to form one; which, it is held, should be made according to the average rent of similar farms in the same township. Thus, it is clear, that in some cases the comparative annual value must be ascertained, or the rate cannot be laid; and as the tax is required to be levied equally on all property, a regular valuation of the premises occupied by each inhabitant must be made, on one equal scale of relative value. rate. Land is usually rated at about two-thirds Scale of the or three-fourths of its average rack-rent. There is no law which fixes the scale of the rate; but it is provided that all property shall be rated, in relative proportion, throughout the district for which the rate is. made. It will easily be conceived, that it matters little on what scale the rate is made, whether one half, two thirds, or three fourths of the value, if the relative proportion be preserved. The same amount is paid to the poor on a low as on a high scale; and if the rates be equal, the contributions will be the same by the end of the year, in both cases. BUILDINGS. Buildings are rateable according to annual value. Buildings are rateable according to the annual value yielded to the landlord, if the rents are in the same proportions to all others in the township; but as this can seldom be the case, unless the whole belongs to one landlord, and all the rents have been valued at one time, the apparent annual value is fixed by the assessors, or persons appointed by the churchwardens and overseers. In doing this, the situation, extent, and convenience are to be considered, and a relative proportion made with other buildings included in the same rate. |