Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1899-07-13
What Shall Be ASSESSED.

Ndiflull1i ltal dul lclSOldl pIoptIlN
and give full and explicit directions
10 assessors in relation to property
that shall be included under each head
The language il As follows;
Section 1885 The terms "real
property, ''real estate" and Gland, =
when used in this title, shall include
not only the land itself, but all build
ings fixtures, improvements, rights
and privileges appertaining thereto.
Section 1886. The term personal
property" as used in this title shall
be construed TO mean and include toll
bridges saw-logs, timber and lumber,
either upon land or ailoat; steamboats,
ships and other vessels, whether at
home or abroad; buildings upon leased
lands. if such have not been included
in the assessment of the land on which
they arc erected; fcrry-borts, includ-
ing the franchise for running the
same; AL debts due from solvent
debtors, whether on account, note
bond, mortgage or other security, or
whether such debts are due or to be-
come duc;and all goods, wares, mer-
chandisc, chattels, moneys and effects of
any nature or description, having any
real or marketable value, and not in
cluded in the term real property as
above defined
Section lO3S cnumcrates the kinds
OF property that IS exempt from tax
alton. Though the list is long it IS
easily understood and assessors and
boards Of equalization usually have no
difficulty in interpreting its meaning.
What we would particularly call at
tention TO is the law relating TO per-
sonal property assessments and par
ticularly the clause which declares
the term personal property 10 in
clude .oH dcbts dac From, solrent debit
ors, toheitcr on occoaH, note, contract,
bonf morigagc or other security.
There are two kinds of personal
property, one tangible and material
like live stock, machinery, stocks of
goods, etc. the other intangible and
immatcrial debts The first kind are
assessed; they cannot be hid; they
bear large part Of the burden Of
taxation The evidences Of "debt due
from solvent debtors on the other
hand are easily concealed. The as
SCISSOR in many eases must take the
word of the owner rs TO the amount
and value of his securities; and UNI
fortunately not all men are honest
AS a result large part of the wealth
of every community goes untaNed. II
is the property of the rich, too, those
best able to pay toward the support
of the government that escapes, while
the visible property Of the poorer men
Is always listed So that il happens
that the rich man who has retired
and lives at ease on the interest Of
his thousands pays less personal prop
erty tax than the washcrwoman across
the alley who perchancc owns a COW
and pig.
1t is often claimed, and by some be-
licyed, that there are ways Of legiti-
mately lodging the law and Of max
ing loans that are not legally taxable.
OFTEN YOU will hear it said "Oh. YES
know mortgages are taxed but
haven't any mortgages, | have deeds.
When loan money OH land always
take decd and gives land contract. !
Every lawyer knows aud every
money lender can easily learn. il he
will. that deeds held rs security are
in equity only mortgages that our
county court and all courts in fact.
hold them 10 be personal property,
that actual title to the land is not in
the person who holds the deed and he
cannot come into possession of il cN-
cept by process of law similar 10
foreclosure proceedings. The idea
that a deed held as security is not
personal property is entirely without
foundation. TO refuse TO givein that
sind Of property 10 the assessor is
inst as dishonest as 10 cover up or
hide from him any other kind Of per-
sonal property
Pushed TO the last extremity the
..deed. security" money loaner de-