Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1886-08-24
AMENDMENT NUMBER oxE.

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 andSall
other matters and things, real, personal and
mixed, capable of private ownership; pTOgided,
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,
pTOUiGed further. that railroads shall be taxed as
provided in Section Ten OF this article and,
pTOUided 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 sueh ships and vessels on
their gross or net earnings IN lieu of an adj val
orem tax. The Legislature may also provide,
except in case of credits secured by mortgage
or trust deed, for q deduction from credits of
debts due to bona foe 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 denver
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, OF in bis 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 a 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 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 a 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 during the year
ending Oh 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; prOrfded. however, that
the Legislature may at any time pass laws pre-
scrib,ng said rules and regulations. In all cases
| where railroads are situated partly within this
State and partly without this State, the gross an
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 apportioning such earnings
between this State and other States or Terrific
ries, 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 ascertained