Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1886-08-26
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 to 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 andpall
other matters and things, real, personal and
mixed. capable of private ownership; py0rided
that growing crops, properly used exclusively
for public schools, and such as may belong to
the United States, this state, or any county or
municipal corporation within this state, shall
be exempt from taxation. Growing vines and
fruit trees shall be deemed to be and shall be
assessed and taxed as part of the realty; and,
prOridcd further, that railroads shall be taxed as
provided in Section Ten OF this article; and,
prOUided further that the Legislature may pro-
vide for the exemption from taxation OF ships
and vessels owned and registered or enrolled i'll
this state, or may tax such ships and vessels on
their gross or net earnings In lieu of an ad val
orem tax. The Legislature may also provide,
except in case of credits secured by mortgage
or trust deed, for deduction from credits of
debts due to bona hde residents If this State.
Double taxation in any form is prohibited.
SEC. s. The Legislature shall, by law, require
each taxpayer in this State to make and deliver
TO the County Assessor, annually, a statement
under OATH setting forth specifically all prop
erty real and personal except railroad property.
as defined IN Section Ten of this article, owned
nv such taxpayer, or in MS possession or under
his control at twelve O'Clock meridian. on the
first Monday in March
SEC. 10. All property, except laaf5-H prop
erty. as hereinafter provided. shall be assessed
in The county, city, city and county, town, town.
ship, or district in which 1t 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 to
the State Treasurer an annual tax OF two and
a half per cent upon the gross earnings, earned
within this State, OF such railroad, ior the year
tha thirty. dav of Decpmbp
next preceding which tax shall be in lieu of
all other State and county taxes upon the fran
chise business, right of way, roadway, roadbed,
rails, rolling stock, fences, stetlons ana their
appurtenauces, and upon ferryboats, when OPP
Grated as q part of such railroad, and upon the
shares of the capital stock, and upon the mort
cages, deeds of trust, contracts OF other oonga-
ton by which debt is secured upon such prop
erty. All other property belonging to such cor
poration or person shall be assessed and taxed
as other property is assessed and taxed The
gross annual earnings earned a. aqnIlng me year lear
preceding of all railroads, shall be, annually.
before the first day of May thereafter ascertained
and declared by the State Board oil Equall2atlOn,
under such rules and regulations as may be pre-
scribed by said Board; prortded. however, that
the Legislature may at any time pass laws pre-
scribipg said rules and regulations. In all cases
where railroads are stnatsd Psrt w'sn nnes TINS
nuai earnings thereof shall be ascertained and
determined by taking:
Eyra-The gross earnings which, during the
wear last preceding, have been earned wholly
within this State.
Second-The gross earnings which, during the
same wear, have been earned partly within this
state and partly without this state, which shall
be ascertsined by appoItioniDg such earnings
between this State and other States or Terrific
ries, in the proportion which the number Of
m lies of such railroad situated In this State and
Used in making such earnings, bears to : ne
whole number of miles thereof. by the use of
which such earnings have been made. The pro-
portion Of interstate earnings tins sscertained