Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1886-08-04
AMENDMENT NUMBER ONE.

SECTION !. 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 rs 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; proulded.
that growing crops, property used exclusively
for public schools, and such as may belong 10
the United States, this State, OF 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 nd taxed as part of the realty; and,
prOrided further, that railroads shall be taxed as
provided in Section len OF this article; and,
proCided 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 net earnings, In lieu OF al 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 6de residents # this Stale.
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
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 tie 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
a half per cent upon the gross earnings, earned
within this State of such railroad, Tor the year
ending upon the thirty iirsE DAY OF DecemDer
next preceding, which tax shall be IN lleu oil
all other State and county taxes upon the iran
chise. business. right of way, roadway, roadbed,
rails rolling stock, fences, stations and their
appurtenances, and upon ferry boats, When OPP
Grated as part OF such rallroad, ana upon inc
shares of the capital stock, and upon the mort
CAGES deeds of trust, contracts or other oblga-
ton by which a debt is secured upon such prop
erty. All other property belonging TO such cor
porstion or person shpll be assessed ana taxed
as other property is assessed and taxed The
GROSS annual earnings earned during the year
ending on the thirty-6rst day OF December last
preceding of all railroads, snail 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 prorided. however, that
the Legislature may at any time pass laws pre-
soriblng said rules and regulations. In all cares
where railroads are situated partly within this
State aud partly without this state, the gross an
nual earnings thereof shall be aseertaioed and
determined by taking
First The gross earnings which. during the
year last preceding, have been earned wholly
within this State.
Seeond-The gross earnings which, during the
same wear, have been earned partly within THIS
state and partly without this state, which shall
be ascertaiued by apportioning such earnings
rios 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 oil
which such earnings have been made. The pro.
portion of interstate earnings thus Gscertained