The Meeker herald. [volume] (Meeker, Colo.) 1885-current, 1901-04-27
New Revenue Law.

New Revenue Law.
Tho following Is . condensation of
soma Of the provisions of the new
reyenue law. which the state is now
working under:
The fundamental idea of the hill is to
reach every class Of property and i'm
pose upon 1t its due burden Of taxation.
Its FIRST declaration is that all property
shall be assessed at its full cash value.
Property is ciassed as tangible and
intangible and SO taxed. Tangible prop
erty is defined as usual, while intangible
is defined to I've rights. credits. fran
chises. special privileges aud special ad-
vantages attendant upon or derivable
under contract rights having value
for the purpose Of income OF sale OF it.
self or In connection with other proper
ty."
The hundred dollars worth Of house
hold property is exempt 10 the head of
family.
! Parties to suits each to pay to the
state fee In the supreme court and
court OF appeals So. in district and
county courts 81. Liquor sellers pay a
$o5 license fee To the state in addition
to local license and the local license can
not be issued to person. who has not
secured one from the state.
The assessor may examine the person
to he assessed under oath and compel
answers by applications to conrt or
Judge regarding his property. In deter
mining the CASH value the market value
is the guide.
In addition to other taxes and fees
corporations pay 5 cents on each LOCO
shares OF stock. This is what is known
as the'"tilat tax" foreign corporations.
10 cents on each 1000 snares.
Producing mines of precious metals
are assessed on one-fourth of the gross
product. Non-producing mines are
taxed like other property. but not in ex-
cess of the lowest producer in the same
locality.
All the county assessors meet in Den
yer on the first Tuesday in August each
year, compare their assessment rolls to
correct errors before swearing to them.
While in Denver the assessors elect
thirteen OF their number as members of
the state board Of assessors. whose duty
it Is to assess all the property heretofore
assessed by the state board of equiIiza-
ton. ns
Railroads are taxed on the basis Of
thsir entire propertv, telegraph and
Telephones arc sssessedin the same way.
Taxes are made a.lisnon the personal
property taxed. Stocks OF merchandise
are subject to the lien, even II additions
have been made OF new goods.
The law covers the whole ground Of
assessment and the collection OF taxes.
Many provisions are similar to the
present law, but the methods are
materially changed on many subjects.
The bill is drawn with view of secur-
ing assessment Of every species of
property at full value. Assessors are
given powers which will enable them to
ferret out property which has heretofore
escaped. The assessor incnrs heavy
penalties for failure to do his duty and
the property also incurs heavy penalties.
lax schedules are sent out to property
owners which inquire in detail about
every species Of property and every
question must be fully answered.
lanche.
James and William Moore, the mil
llonaire managers Of the tin plate trust,
have just paid their subscriptions To
their home paper, the Greene IN. W
American, till the year 2loO. We're
sorry that few such trust magnates do