The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1902-08-05

OuAu pASSSNAA6 " 0SSAOA, oo1u
Under the law all property is re-
CURED to be assessed at it's cash val
ue. This is not always an easy thing
to do. N
"The difficulty, however, is remov-
ed to some extent in the case Of the
Northern Pacific and Great Northern,
which were recently sold on a mile
age basis of $50, 700 per mile. 1t has
been we'll said that the value which
a property bears in the market, the
amount for which it's stock can be
bought and sold, is the real value.
Il am satisfied that real property in
this state, in the main, is assessed
for it's full cash value, and in many
localities far beyond its cash value.
I am also satisfied that much personal
property, such as money, credits,
merchandise etc, is escaping taxa
ton. A representative of one of the
railways has asserted that only, A
per cent of the live stock of this state,
as shown by the federal census, was
returned for assessment and taxation.
:" cannot vouch for the correctness
of that census, or that statement. The
state furnishes it's own instrumental
tiles for making assessments on per-
sOnal property, and, of course, we are
obliged to be controlled, more or less,
by the information furnished through
the federal census. The fact, however,
is that in Montana, under our law,
only such property is assessed as is
in existence on March 1, while the
increase in the case of live stock
comes later on, and this may account,
in a measure, for the difference be-
tween the federal census and the as
sessment as returned by the county
assessors.
But let us assume that all real
property is assessed at it's cash value,
and that only "A per cent of all per-
sonal property has been returned, and
it is beyond the power of the board
to find the personal property which
has escaped or bring it's value up. It
would certainly not be considered un-
fair to the railroads if the cash value
of such roads as have been establish
ed by being bought OF sold on the
market should be proportionately re-
duced, that is to say, if we should take
A per cent of the market value of the
Northern Pacific and Great Northern,
fixed at $52, 800 a mile, and not dis
/ puted as far as l know, we would
have, l think, a basis for assessment
about which the railroads could not
complain and which would be a very
material increase over the assessment
of last year.
81 accordingly recommend to the
board that an increase of 300 per cent
over the assessment of last year. be
made upon the Northern Pacific and
it's branch lines and the Montana Cen.
trail and it's branch lines"
Governor Toole then took up all OF
the railroads in detail and gave his
reasons why, in his opinion, in some
cases the assessment should be in.
creased, and in others why it should
remain as it has been. In his talk
to the railroad men, Governor
Toole said:
"The board, in it's wisdom, has moi
accepted my recommendations in full
but instead has assessed the Northern
Pacific, Great Northern and the Butte
Anaconda & Pacifi only about % pei
cent of the price paid for the North
ern Pacific and Great Northern.
"1n other words, it has equalizet
the value Of these roads so as tt
bring them down to the value of 9th
er property, after making the mos
liberal allowance for such property
as it is claimed has escaped taxation
Of course, we may have been in errol
lntaking $52 800 a mile as the casl
value of such roads, but when suc1
successful financiers as Mr.. Morgan
and his associates have, within a year
paid that sum for them, it certainly
makes a prima facie case for thu
board.
But in the event our basis wa.
high, and admitting that termina
facilities and the remainder of lant
grants were comprised in the deal
| the fact that the assessment of tn,