Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1886-08-20
AMENDMENT NuMEER one.

SECTION 1. 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 ii this article and
section, is hereby declared to include moneys
credits, bonds, stocks, dues, franchises andFall
other matters and things, real, personal and
mixed, capable of private ownership; prOpided
that growing crops, property used exclusively
for public schools, and such us may belong TO
the United States, this State or any county or
municipal corporation within this state, shall
be exempt from TAXATION. Growing vines ana
fruit trees shall be deemed 10 be and shall be
assessed and taxed as part OF the realty; and,
prorfei ftTfde, that railroads shall be taxed as
provided in Section Ten of this article: and,
Drorided further, that the Legislature may pro-
vide for the exemption from taxation Of ships
and vessels owned and registered OK enrolled in
this state. or may tax such ships and vessels on
their gross or net earnings III lieu OF an ad val
oreIn 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 ide residentssf 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. statement
under oath, setting forth specifically all prop
erty, real and personal, except railroad property.
as defined in Section Ten OF this article, owned
py such taxpayer, or in his possession or under
his control, at twelve o'clock meridian. on the
first Monday in March.
SIC 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 1t is situated, IN the
manner provided b. law. Every corporation
and person owning or operating railroad, or
any portion thereof, IN this state shali, on OF
before the first day OF July OF each year, pay TO
the State Treasurer an annual tax OF two and
q half per cent upon the gross earnings, earned
within this State, of such railroad, Tor the year
I .srf dON al lg4T
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, stsnons ana thelr
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 obliga-
ton by which debt Is secured upon sueh prop
erty All other property belonging to such cor
poratiOn or person shall be assessed ana taxed
as other property is assessed and taxed The
gross annual earnings earned curing inc year
ending on the thirty-first day OF December last
preceding, of all railroads, shall be, annually.
before the first day of May thereafter asceTtained
and declared by the State Board OF Equalization,
under such rules and regulations as may be pre-
scribed by said Board; prOnidef, 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 aud 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.
SecoRd-The gross earnings which, during the
| same year, have been earned partly within this
State ard partly without this State, which shall
be ascertained by appoTtioning 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
witch such earnings have been made. The pro-
portion Of interstate earnings thus ascertained