Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1886-08-10
AMENDMENT NUMBER ONE.

SECTION l. All property in the State, except
railroads, not exempt under the laws of the
United States, shall be taxed in proportion 10 its
value, to be ascertained as provided by law.
The word property, as used IN this article and
section, is hereby declared to include moneys.
credits bonds, stocks, dues, franchises and all
other matters and things, real, personal and
mixed, capable of private ownership; Pr0tlHed
that growing crops, propert! used e%clHsiVet:
fer public schools, and such as may belong 10
the United States, this state or any county CT
municipal corporation within tins state. shall
be exempt from taxation. Growing vines and
fruit trees shall be deemed to be and shall be
assessed aud taxed as part OF the really: ana,
prOttdcd further, that railroads. shall be taxed Is
provided III Section Ten OF this article; and,
prOrij5d further, that the Legislature may pro-
vide for the exemption from taxation OF ships
and vessels owned and registered or enrolled II
this state, or may tax such ships and vessels on
their gross or net earnings II lieu OF an ad val
orem tax. The Legislature may also pIoViGe,
except in case of credits secured by mortgage
or trust deed for deduction from credits of
debts due to bona fde residents 4 this Sta,e.
Double taxation in any form is prohibited.
SEC s. The Legislature shall, by law, require
each taxpayer IN this State 10 make and deliver
to the County Assessor, annually. statement
under oath, setting forth specifically all prop
erty, real and personal except railroad property.
as defined in Section Ten OF this article, owned
by such taxpayer, or in his possession or under
his control, at twelve o CLOCK meTl0lal, on the
first Monday in March.
SEC. 10. All property except railroad prop
eIty, as hereinafter provided, shall &c assessed
in the county, city, city and county town, town
ship, or district in which it is situated, in the
manner provided by law. Every corporation
and person owning or operating railroad, or
any portion thereof, in this State, shall, on or
before the first day OF July OF each year, pay 70
the State Treasurer an annual tax OF two and
a half per cent upon the gross earnings, earned
within this State of such railroad, for the year
ending upon the thirty-nrst day OF december
next preceding, which tax shall be IN liea OF
all other State and county taxes upon the fran
chise, business right OF way, roadway, roadbed,
rails, rolling stock, fences, stations and sheir
appurtenances, and upon ferry6oats; when op-
Grated as part Of such railroad, and upon the
shares of the capital stock, and upon the mort
cages, deeds of trust contracts or other 0bliga-
ton by which debt is secured upon such prop
erty All other property belonging to sach cor
poration or person Shall be assessed and taxed
as other property Is assessed and taxed. The
gross annual earnings earned during the year
ending on the thirty-frst day OF December last
preceding of all railroads, shall be, annually,
before the first day of May thereafter, aseertained
and declared by the State Board OF Equalization,
under such rules and regulations as may be pre-
scribed by said Board; prOtided. however, that
the Legislature may at any time pass laws pre-
scribing said rules and regulations. In all cases
where railroads are situated partly within this
State and partly without this state, the gross az.
nual earnings thereof snail be aseertaineu ana
determined By taking:
First The gross earnings which, during the
year last preceding, have been earned wholly
within this state.
Seeond-The gross earnings which, during the
same wear, have been earned partly within TINS
State and partly without this state, which shall
be ascertained by Spp0rtioning such earnings
between this State and ether States or Terrific
RES, in the proportion which the number OF
miles OF such railroad situated in this State, and
| used ia making such earnings, bears TO = he
whole number of miles thereof, by the use OF
| which such earnings have been made. The pro-
! portion Of interstate earnings thus aseertained