Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1886-09-04
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 and all
other matters and things, real personal and
mixed, capable of private ownership; pr0rided,
that growing crops, property 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
proUided further that railroads shall be taxed as
provided in Section Ten of this article; and,
pr0uided 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 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 fde residents nf this Stale.
Double taxation i'll 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, 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 meridian on the
first Monday in March.
SEC. 10. All property, except railroad prop
erty, as hereinafter provided, shall be 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 to
the State Treasurer an annual tax OF two and
half per cent upon the gross earnings, earned
within this State, of such railroad, for the year
ending upon the thirty-first day of December
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, stations and their
appurtenances, and upon ferryboats, when op-
Grated as a part of such railroad, and upon the
shares of the capital stock, and upon the mort
cages deeds of trust, contracts or other obliga-
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
ending on the thirty-first day OF December last
preceding of all railroads. shall be, annually,
before the first day of May thereafter, ascertained
and declared by the State Board of Equalization
under such rules and regulations as may be pre-
scribed by said Board; provided, however, that
the Legislature may at any time pass laws pre-
scribDg said rules and regulations. In all cases
where railroads are situated partly within this
State and partly without this State the gross ga.
nual earnings thereof shall be ascertained and
determined by taking;
First The gross earnings which, during the
year last preceding, have been earned wholly
within this State.
Second-The gross earnings which, during the
same year, have been earned partly within this
state and partly without this State which shall
be ascertained by epportioning such earnings
between this State and other States or Terrific
RES, in the proportion which the number of
miles OF such railroad situated in this State and
used in making such earnings bears TO he
whole number of miles thereof. by the Use of
which ouch earnings have been made. The pro-
portion Of interstate earnings thus ascertained