Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1886-08-28
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. rs used in this article and
section, is hereby declared to include moneys
credits, bonds, stocks, dues, franchises andsall
other matters and things, real, personal and
mixed. capable of private ownership; pT0Uiicd,
that growing crops, properly used exclusively
for public schools, snd 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 sud taxed as part of the realty and,
prOCiGed further, that railroads shall be taxed as
provided in Section Ten OF this artice and,
pr0Uidcd further, that the Legislature may pro-
vide for the exemption from taxation of ships
and vessels owned and registered or enrolled in
this state, or may tax such ships and vessels on
their gross or net earnings III 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 fde residents If this State
Double taxation in any form il prohibited.
SEC. s. The Legislature shall, by law. reouire
each taxpayer il 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
Dy such taxpayer, or in his possession or under
his control, at twelve o'clock meridian on the
first Monday in March.
SEC. 10. All property, except railroad pron-
erty, as hereinafter provided. shall be assessed
in the county. city, city and county, town town
ship, or district in which il 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 for the wear
ending upon the thirty first day of December
next preceding, which tax shall be in lien OF
all other State and county taxes upon the fran
chise business, right of way, roadway roadbed
rails, rolling stock, fences, stations ard their
appurtenances, and upon ferryboats, 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 oblira.
ton by which debt is secured upon such mon
erty. All other property belonging to such cor
poraton or person shall be assessed and taxed
as other property is assessed and taxed Tho
gross annual earnings earned during the vear
ending on the thirty first day of December last
preceding, of all railroads shall be- annually
before the first day OF May thereafter ascertsjned
and declared by the State Board of EQUALIZATION
under such rules and regulations as may be pre.
scribed BY said Board; prOrided, however that
the Legislature may at any time pass laws pre-
scribiDg said rules and regulations In ali cases
where railroads are situated partly within This
State and partly without this State the gross an.
nUal earnings thereof shall be ascertaired and
determined By taking:
First The gross earnings which, during the
year last preceding, have been earned wholly
within this State.
secOHd-The gross earnings which, during The
same year, have been earned partly within this
state and partly without this state which she'll |
be asceTtained by spportioning such earnings |
between this State and other States or Terrific |
mes, in the proportion which the number of |
mics OF such railroad situated in this State and |
used ia making such earnings, bears toSbe |
whole number Of miles thereof, BY The nse ~ |
which such earnings have been made The nro. |
7 PORTION Of interstate earnings thus ascertainsd