La Junta tribune., 1902-03-08
Taxation Of Mines.

The Senate committee oil finance.
which Ind the revenue bill under con-
federation. has presented its report.
The amendment dealing with the tnxn-
tIon OF mines naturally excited the
most attention. IL provides that all
mines shall he divided into Two classes.
producing and non producing. All
whose gross production shall exceed
5000 II year being in the former class.
Between the LIST and 18th OF January
In each year mine owners shall deliver
ment showing:
Firsi-The maine OF the mine or min
ing claim.
Second-Thc name or names OF the
owner or owners thereof.
Third-The number OF acres contain
ed in such mine or mining claims.
Fourth--The number OF ions OF ore
extracted during the preceding year.
rffth-The gross value Of any such
ore extracted In dollars and ccnts.
Sixfh-Actual cost OF extracting the
same from mine. which shall not In
clude the salaries OF amy officers OF
agents not actively engaged In. or
about the mine.
seventh-Actuai cost Of transporta-
tlon 10 place OF reduction or sale.
Eighth-Actual cost OF treatment, re-
duction or sale.
Nin,h-T'he net proceeds In dollars
and cents, after deducting the above
expenses.
Which said statement shall be signed
and sworn to.
The assessor shall determine the
gross and net proceeds and value the
milne Mt a sum equal to one-fourth OF
the gross proceeds. unless the net pro-
cectis exceed onefourth OF the gross.
In which case the valuation shall be
equal to the net The value shall new
or he less than the highest amount that
any uon-producing mine In the same
district II assessed at. Surface i'm
proyemen,s and machinery shall be
separately valued and taxed at full
cash value n owners neglect to make
the required statement the mine shall
he assessed mt full cash ynlue. The
assessors have power to examine
books and accounts In order to verify
ownerA' statements, and II the latter
are found false the assessment shall
be at full cash value.
Section SCH provides:
And the property owned by any min
ing corporation shall be held to repre-
sent the value Of its capital stock IN
the purpose OF taxation: provided, that
the manLer os assessment aLd taxation
in the sectiors hereil1D)va set form
nhaIi apply 6cly to miucs AID 'p:niLg
claims bearing and producing gold. sil-
yer, lead. copper or other precious or
valuable metals or minerals. and shall
not be construed to apply to mines of
iron, coal. asphaltum. Quarries and
lands valuable because containing 9TH
er metals. minerals, or earths. NIL II
which shall be assesseti and taxed like
other property according to the valus.
thereof; and provided, further. that all
mines or mining claims or posse&sory
rights therein that are not producing
gold, silver. IeAd. copper. or other pre-
cious or valuable metals or minerals.
shall be assessed and taxed like other
property according to the value there
Of, and In ascertainlnR such valu.. the
Assessor shall, In addition to the other
requirements OF this act, take into con-
alteration the location thereof, the
proximity to other mines OF mining
claims. and any other matters which
may tend to assist him In arriving nj
fair and equitable valuation Of such
property: and provided. further, that
noeh1ng IN this act contained shah he
cunetrued AZ giving the nss-sso- any
right to assess non-pfo,iucing mining
eanfm NJ . greater sum per acre s.an
- asDessed per acre against the lowest
pruducing mine in the same locality.
In addition an amendment vaa
n4op1ed making more stringent the
Fo1ee to BE- followed by the State Board
- Equalization in arriving at the -
se.nahee valuation /bf corporate 3sope
e<ey- Ihe board must take for q basea
~ market value Of the stocks anlo
- bet may deduct the vslne =
nee11aGs not used in the operattco =