Durango semi-weekly herald., 1902-03-03
REVENUE MEASURE.
Digest OF the Important Features as
Passed by the House.
Denver Post)

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Main features Of the revenue act AZ
II goes to the senate
All property to be assessed at It's
fun cash value.
License tax OF S25 year on retail
liquor dealers.
Abolishment of fees prescribed In
revenue law of 90i on cases filed In
the supreme court and court OF ap.
penls
Inheritance tax ON all estates valued
above $4,000 Under the law Of 1901
the limit was $4,000.
Flat tax on corporations. as follows.
2-cent tax on each 81 900 of the capital
stock OF state companies, and 4 cents
ON each 81 900 of the capital stock of
foreign corporations. In value each.
the tax viii be ~ cents on each l 900
shares. All companies incorporated 4
under s25 900 exempted from the fiat
tax.
Property Of railroads. telegraph
telephone, palace car, express and fast
freight car companies to he assessed
by the state board OF equalization as
under III. old Inv prior to 1901.
The state board OF equalization is to
be composed OF the governor. treas
urer. auditor attorney general and
secretary of state
All other property. except that of
railroads and like corporations. to be
assersed BY the county assessor under
methods prescribed by the law of 1901
The state board OF equalization viii
be required to certify out to the coun-
" assessors the boards valuations on
railroad and Ike property before the
TIME prescribed for the assessors To
tilc their abstracts OF assessments
with the state auditor
Market value OF stocks aud bonds
OF railroads. together with their earn
ings. and cost of roadbcd, rolling
stock. etc. to be considered by the
board of equalization I'm arriving n,
vaiues.
A clause allowing small taxpayers
To appeal from AN assessors ruling
to the board OF county commissioners
by petition. instead of being obliged
20 hire an attorney and appeal to the
iistric; court Under the old law
AHf Who hiHHV " ~
TO a great expense II he desired errors
IN his assessment corrected.
Penalty OF $500 forfeiture to the
state for assessors who fail to fle
their abstract within the required time
with the state auditor
Twenty hye dollars fine to be i'm.
posed by county commissioners on as
SCISSORS who fail TO produce receipt
FOR their abstract. signed by the audi.
tor
Date of delinquent taxes Is changed
from first Monday in October to sec
oud week In November.
County treasurers who fail 20
sell property advertised for sale viii
/, forfeit 10 per cent of the fees OF the
entire sale to the county
Franchises of all corporations to be
taxed by either state board of equal.
ization or assessors at full cash value.
The provision OF the old law which
read that all cattle or other stock
brought In the state during the year
should be taxed Irrespective of wheth-
or it had been taxed In another state.
is 80 amended that stock brought in
for feeding purposes Will not suffer
double taxation.
This afternoon Representative Bris
coe proposed compromise on the
mining section. the mining interests
fearing To trust TO the senate killing
the Necley amendment,
The proposed substitute section
provides that all mines having an an.
nual production of more than $1,000
shall be taxed at one-half their gross
proceeds. Machinery and surface
improvements are to be separately
valued. Non-produclng claims are to
be taxed the same as other property.
- -
Denver papers are going to proht by
the oil excitement II no one else does.