The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-03-31
Article on That Subject to Be
Submitted rIonday.
TAXATION OF MORTGAGES.
AMOUNT OF DEBT MUST BE SUB
TRACTED FROM PROPERTY.
Territorial Taxation Not to Exceed
Eight authorization of Mines
COrpOratiOns-Artic of Public
Debt Will Also be Submitted-Not
to Exceed Taxes.


to Exceed Taxes.
rhe committee on revenue, taxation
and public debt of the constitutional
convention will make its report on
Monday and will submit the following
articles. There are several important
provisions in them, such as the taxing
of mines and the proposition on taxing
OF mortgages.
The article on revenue and taxation
reads as follows:
Revenue and Taxation.
Section THE fiscal year shall begin on
the first day of January unless changed
by the legislature.
,SSec. 2-AlI property in the state. not
exempt under the laws of the United
States or under this constitution, shall be
taxed in proportion to its value, to be
ascertained as provided by law. The woid
property as used III this article is hereby
declared to include moneys, credits,
bonds. stocks. franchises and all matters
and things reGl, personal and mixed,
capa bic of private ownership, but this
shall not be construed so as to authorize
the taxation of the stocks of any COM
pany or corporation when the property of
such company or corporation represented
by such stocks has been taxed. The leg
islature shall provide b. law for an an
nual tax sufficient, with other sources of
revenue, to defray the estimated ordin-
airy expenses of the state for each fiscal
year. And for the purpose of paying the
state debt, if there be any, the legisla-
tu-e shall provide for levying a tax an
nually, sufficient to pay the annual inter
est and principal of such debt within
twenty years from the final passage Of
this law creating the debt
Rate OF Taxation.
Sec. 3-The legislature shall provide by
&c S&S uniform and equal rate of assess
meTr and taxation on all property in the
state, according to its value in money,
and shall prescribe such regulations by
general law as shall secure a just Valua-
ton for taxation of all property, so that
tax in proportion to the value of his, her
or its property; provided, that deduc-
ton of debts from credits may be au-
thorized; provided, further, that the
property Of the United States, the state,
counties, cities, towns, school districts,
municipal corporations and public libra
exclusively for either religious worship or
charitable purposes; and places of burial,
not used or held for private or corporate
benefit, shall be exempt from taxation.
DitcheS, canals. and fumes owned and
used by individuals or corpora tons for
Irrigaung lands owned by such indiVidu-
ais or corporations, or the individual
members thereof, shall not be separately
taxed so long as they shall be owned and
Used exclusively for such purpose.
Taxation of Mines.
Sec. All mines and mining claims,
both placer and rock in place, containing
or bearing gold, silver, copper, lead, coal,
or other valuable mineral deposits after
purchase thereof, from the United States,
shall be taxed at the price paid the Uni
ted States therefor, unless the surface
mine or claim, is used for other than
mining purposes, and has a separate and
independent value for such other pur-
poses. in which case said surface ground
or any part thereof, SO used for other
than mining purposes. shall be taxed at
It's value for such other purposes, as pro-
vided by law; and ali the machinery
used in mining, and all property and sur
IaSe improvements upon or appurtenant
TO mines and mining claims which have
a value separate and independent of such
nugl proceeds of all mines and mining
s. ms shall be taxed as provided by law.
Tax on Mortgages.
Sec. "a tax upon mortgages secured
on either real or personal property shall
never be levied unless a reduction equal
TO the amount of such mortgage shall be
made in the assessed value of the prop
erty covered thereby.
Sec. 6-The legislature shall not impose
taxes for the purpose of any county, city,
town or other municipal corporation but
may. by law, vest in the corporate au-
thorities thereof respectively the power
TO asse sand collect taxes for all pur-
poses OF such corporation.
Sec AN accurate statement of the re-
csipts and expenditures of the public
sfoneys shall be published annually in
Gnch manner as the legislature may pro-
vide.
Not TO Exceed Eight Mills.
Sec. S-The rate of taxation on proper
ty, for state purposes, shall never exceed
eight mills on each dollar OF valuation;
and whenever the taxable property with
in the state shall amount to two hundred
million dollars, the rate shall not exceed
five mills on each dollar OF valuation; and
whenever the taxable property within the
state shall amount to three hundred mil
lion dollars, the rate shall never thereaf-
ter exceed four mills on each dollar of
unless proposition to in
crease such rate, specifying the rate pro-
posed, and the time during which the
same shall be levied, be first submitted to
a vote of such of the qualified electors of
the state as in the year next preceding
such election, shall have paid a property
tax assessed to them within the state
and majority of those voting thereon
ner as may be provided by law.
Use of Public Moneys.
Sec. 9-The making of profit out of pub
lie moneys, or using the same for any
purpose not authorized by law, by any
public officer, shall be deemed a felony
W..
EHt part of such punishment shall be dis
Qualification 70 hold public Office
Sec. 1O-No appropriation shall be made
nor any expenditure authorized by the !
whereby the expenditure of
the state, during any fiscal year, shall |
exceed the total tax then provided for by |
law and applicable for such appropria ton |
or expenditure, unless the legislature |
making such appropriation shall pro-
vide for levying sufficient tax, not ex- |
ceeding the rates allowed in section eight |
Of this article, 10 pay such appropriation |
or expenditure within such fiscal year
This provision shall not apply to appro- |
priations or expenditures to suppress in |
in defending the United States in time of |
war.
l. Corporations Taxed Fully.
Sec. 1l-Au corporations in this state.
Dr. doing business therein, shall be sub |
ject to taxation for state, county, school, |
municipal or other purposes, on the real !
and personal property owned or used by |
them within the territorial limits of the |
authority levying the tax.
Sec I2-There shall be a state board of |
soualiza ton, consisting of the governor, |
state auditor, state treasurer, secretary |
Of state and attorney-general; also, in |
each county of this state, a county board |
county commissioners of said county. The |
duty of the state board of equalization |
shall be to adjust and equalize the vaIu- |
alton of real and personal property |
among the several counties OF the state. /
The duty of the county board of equali- |
.ation shall be to adjust and e1ualize the /
valuation of the real and personal prop |
srty within their respective counties |
Each board shall also pe7'fcrns such other |
1uties as may be prescribed by law.
sc. 13-Nothing in this constitution shall !
4 construed 80 prevent the legislature
&1m providing a stamp tax, or for taxa |