The state herald., 1902-03-14
Taxation of Mines,

d~otioH VI WtHCss
The Senate committee oil finance,
which had the, revenue bill under con-
| sideration, has presented its report.
The amendment dealing with the taxa
ton of mines naturally excited the
most attention. 1t provides that all
mines shall be divided into two classes.
producing and non-prOducing. All
whose gross production shall exceed
So 900 a year being in the former class.
Between the lst and 10Th of January
In each year mine owners shall deliver
90 the assessor of their county a state
ment showing:
First-The name of the mine or min
ing claim.
Second-The name or names of the
owner or owners thereof.
Third-The number of scres contain
ed in such mine or mining claims.
Fourth-The number of tons of ore
extracted during the preceding year.
Fifth-The gross value of any such
ore extracted in dollars and cents.
Sixth-Actual cost Of extracting the
same from mine, which shall not in
clude the salaries of any officers or
agents not actively engaged in or
about the mine.
Seventh-Actual cost of transporta-
ton to place of reduction or sale.
Eighth-Actual COST of treatment, re-
duction or sale
Ninth-The 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
mine Mt a sum equal TO one-fourth OF
the gross proceeds. unless the net pro-
ceeds exceed one-fourth of the gross.
in which case the valuation shall be
equal TO the net. The value shall nev-
er be less than the highest amount that
any non-producing mine in the same
district Is assessed at. Surface Inn
provements and machinery shall be
separately valued and taxed at full
cash value. If owners neglect TO make
the required statement the mine shall
be assessed at full cash value. The
assessors have power TO examine
books and accounts In order TO verify
owners statements. and II the latter
are found false the assessment shall
be at full cash value.
Section S2H provides:
And the property owned by any min
Ing corporation shall be held TO repre-
sent the value of It's capital stock .or
the purpose OF taxation: provided. that
the manLor of assessment aLtl taxation
In the sections hcrcilin)va set forth
shall apply orly to n.lncs lrd p:nihg
claims bearing and producing gold. sill
yer. lead. copper or other precious or
valuable metals or minerals. and shall
not be construed 10 apply TO mines of
Iron. coal, asphaltum, luarrles and
lands valuable because containing 9TH
er metals. minerals. or earihs, all VI
which shall be assessed and taxed like
other property according to the value
thereof: and provided. further, that all
mines or mining claims or possessory
rights therein that are not producing
gold, silver, lead, copper. or other pre-
clous or valuable metals or minerals.
shall be assessed aud taxed like other
property according 10 the value there
OF. and In nscertalnlng such value the
assessor shall, IN addition To the other
requirements OF ills net. take into con-
sideration the location thereof. the
proximity TO Other mines OF mining
claims. and any other matters which
may tend 10 assist him In arriving at
fair and equitable valuation NJ such
property; aud. provided. further. that
nothing IN this net contained shall b.
construed as giving the asSessos any
right 10 assess n n1D-ptodmcing mlnlhs
claim nt n greater sum per acre thln
is assessed per acrr against the lowest
producing mine ln the same locality.
In addition mn amendment was
adopted making more stringent the
rules 10 bc followed by the State Board
OF Equalization IN arriving Mt the ms.
sessnblc valuation of corporate prop.
orty. The board must take for basis
the market ynluc OF the stocks and
bonds but may deduct the value OF
holdings not used In the operation OF
the companies.