Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1890-05-03
THE TAX LA w.

This Office has been favored by the
state Auditor with copies of the statutes
of South Dakota governing insurance
companies and also the law governing
assessments. The latter is Of special
interest at this time. The first clause
of advice to assessors, and one which
should be strictly complied with. reads
"The law emphatically requires the
listing of property. under oath, at its
full value. Anything less than this Il
perjury"
Section ole, general classes of tax
able property, reads:
"All property, whether real or person.
al, all moneys, credits, investments in
bonds stocks, joint-stock companies, or
otherwise, Of persons residing in this
state, the property Of corporations now
existing or hereafter created, and the
property of all banks and banking
companies now existing or hereafter
created and OF all bankers, except such
property as hereinafter expressly ex-
empted, shall be subject TO taxation
aud such properties, monies, credits, in
/ vestments in bonds, stocks, joint stock
companies, or otherwise, Of the value
thereof, shall be entered on the list OF
taxable property for that purpose, in
the manner prescribed by this chapter.
The following are the EXCEPTIONS: Prop
erty Of the United States, state, county
and municipal corporations. Property
used exclusively for agricultural and
horticultural societies, for school, relig-
ious, cemetery and charitable purposes
and personal property to any amount
not exceeding in value two hundred
dollars for each individual liable TOR
taxation. The polls or estates, or both,
of persons who from age or infirmity
may be unable to contribute to the
public charge. Any one-fourth part of
any section of prairie land on which
FIVE acres of timber shall be planted or
seeds sown and where the stand is not
distant more than twelve feet each way.
This exemption will not apply to timber
planted later than November 1889. All
pensions from the United States or any
state and the poll tax Of members OF fire
| companies"
In the classification of taxable prop
/ erty, sections three, article seven, reads
Mortgages and all other securities,
promisory notes, and accounts, whether
bearing interest or not"
Capital employed in merchandising
is to be assessed without allowance for
Indebtedness, but Indebtedness may be
offset with credits.
Property, real or personal in posses
sion, or under control of. or held fol
sale by any warehouseman, agent, factor
or representative, or dealer in agricui
tural implements or machinery, is 10 b,
assessed to the person in charge Of th,
same.
A disposition to evade the law, as ha,
been repeatedly shown in the past
by refusing or negecting TO list prop
erty, with view Of measurably escap
ing taxation by reason Of the assesso
finding less property than was actual,
possessed, and relying upon the boar,
of equalization for reduction in cas-
of the valuation being exhorbitant, ha
been fairly frustated by clause il
section eight, which reads:
IF any person, firm. officer or agen
shall neglect or refuse, on demand O
the assessor, to give under oath or affir
nation, the statement required by thi:
section, the assessor shall ascertain an,
estimate from the best information h,
can obtain, the number, amount an,
cash value of the required property an,
the value so fixed by the assessor shal
not be reduced by the county board o
equlization."