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<br />November 16, 1955 <br /> <br />Mayor Rieves S. Hodrett, <br />& Members of The City Council <br />Martinsville, Virginia <br /> <br />Gentlemen: <br /> <br />'7ith reference to the flGross Receipts Tax Equity Study Reportll <br />being submitted to you for consideration, this is to advise that, <br />as a member of this committee, I l1B.ve agreed with the greater <br />portion of this report, but disagree as to the rate assigned tho <br />Manufacturing Group. Consequently, I have not signed the report. <br /> <br />Hy reason for disagreement is that I sincerely feel that the <br />tax ratio of the Manufacturing Group was already at an equitable <br />peak, and by the Study Commission's virtually reducing all other <br />rates they have increased the Manufacturing ratio accordingly. <br />No manufacturers in Martinsville wish to shirk their responsi- <br />bility as to the City1s needs for monies, but I believe that I <br />can safely say that they all foel they are making a valuable <br />contribution to the City's gro17th through their presence and <br />constant efforts to expand, and their bringing more and more <br />outside money into this area in the forms of payrolls and purchases. <br />They feel that too much emphasis is nO'if being put on Gross ReceiRts <br />as a form of revenue. If more money is to be gotten, it should be <br />reflected in the Realty Tax Rate. <br /> <br />I alJpreciate your having asked me to work on this committee, <br />and am sorry not to have been able to go along unanimously in their <br />decision. <br /> <br />Very truly yours, <br /> <br />sl W. F. Franck <br />Commi.tteeman <br /> <br />V1FF I npc <br />