Omaha daily bee., 1898-12-29
FIXING UP REVENUE LAW
Revision Committee Has Another Session
Over Is New Bill.
CORPORATIONS TO FARE AS INDIVIDUALS
Personal and Real Property TO BE
Assessed ON the Same Basis A.
That of Any other Tax.
paying Citizen.

During the sessions Of the revision COM
mittee which Is going over the county reve-
nue. bill, City Tax Commissions Sackett
took part in some Of the discussion. He had
some ideas OF his Owl as to the incorpora-
ton OF an income tax proposition, but fnd-
ing a number Of constitutional barriers in
the way he dropped them.
Much OF the morning was taken up with a
consideration of section 10 Of the bill. This
provides for the assessment OF the personal
property of corporations, such as street
railways, express, water works. telephone,
Electric light, stage, steamboat, gas, bridge,
ferry and manufacturing companies, in the
same manner as the property of individuals.
With regard to foreign corporations, cor
porations organized under the laws Of Ne
braska having their property either wholly
or In the greater part in other states, and
corporations not otherwise taxed, provision
is made also in this section for their as
sessment upon the basis Of their capital
stock. 1t proposes, though, to assess the
real estate Of all corporations upon the
same basis as the property of individuals.
Before the section was adopted Secretary
Redaerd shove from the state auditors
reports that the total assessed valuation Of
the corporations for 1894 had been 1859, $40.
and for 1895, $1S7.714, there being very
little increase for subsequent years. SEN
ator Van Dusen read a California decision
defining the word value and he argued
in favor of adopting the construction placed
upon 1t, but 1t was concluded to pass over
his recommendation for the time being.
About forty sections were gone over be-
fore evening. Section 90 was referred to
Commissioner Sackett with instructions to
report a clause enlarging the power Of the
State Board Of Equalization in the matter
of railroad and telegraph assessments.
Limit to State Levy.
A discussion arose in the afternoon over
the question Of the state levy. The bill as
introduced two years ago contemplated a l.
mill levy. Estimates of the assessed valua-
ton Of the entire state range from $3.50, 600.
600 to $500, 900, 900. The biennial appropria-
lions made by the legislature, 1t was said,
run from 50, 200. 900 to 81, 500, 900 and a 1-mill
levy would give only from $3.50, 900 to $500, 900
annually. Van Dusen favored making the
amount 8 mills, but as this matter had been
under consideration by the revenue commit
tee in conjunction with Governor Holcomb,
action was put off until sore definite in
formation from that committee could be OBJ
tanned. .,t
In connection with the state levy the
county levy WAS taken up. SeCtlOu 20, COW
ering this detail, was agreed to. 1t provides
for a tax not to exceed 8 mills. distributed
as follows: General fund, AZ mills; road
fund, ~ mills; bridge fund, ~ mills, and
sinking fund, " mill. The labor tax, 1t was
thought, is adequately covered by the pres
| ent law. t' %.
The question OF tax titles was finally dis
posed of without resorting to any extremely
radical change. An amendment was adopted
reducing the interest rate from Is to 10 per
cent and extending the time for the redemp-
ton OF property from three and one-quarter
years to Ave years. The California law on
| the subject OF tax sales was. produced by
| Senator Van Dusen. However, as II was
feared the idea involved a proposition re-
quiring the sales Of delinquent property to
the state and that this would affect the state
revenues to an uncertain amount, 1t was
concluded to leave the question of any in
n~ovation to the new state board and subse-
Quent legislation.