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

The Senate committee OH 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 AZ
mines shall be divided into two classes.
producing and non-producing. All
whose gross production shall exceed
st, 600 n year being in the former class.
Between the 1st and 10Th of January
in each year mine owners shall deliver
to the assessor of their county Il state
ment showing:
First-The name of the mine or min
ing claim. 1871
Second-The name or names of the
owner or owners thereof.
1'hird-The number of acres contain.
ed in such mine or mining claims.
Fourth-The number Of tons of ore
extracted during the preceding year.
Fifth-rhe 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 transpoIta-
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 at "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 new
er be less than the highest amount that
any non-producing mine in the same
district is assessed at. Surface i'll
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 mt 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 reprt
sent the value of its capital stock :or
the purpose of taxation: provided. that
the manner OF assessmelt'aLh taxation
in the sections hereiliD)va Sc. fortl
shall apply orly to mines AID mining
claims bearing and producing GOLD sill
yer, lead. copper or other precious or
valuable metals or minerals, and shall
not be construed to apply TO mines of
iron, COAL asphaltum. Huarries aud
lands valuable because containing 9th
er metals. minerals. or earths, all of
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-
cious or valuable metals or minerals.
shall be assessed and taxed like other
property according to the value there
of. and in ascertatning such value the
assessor shall. in addition to the other
requirements Of this act. take into con-
sideration the location thereof. the
proximity to other mines or mining
claims. and any other matters which
may tend to assist him In arriving at
n fair and equitable valuation of such
property; and. provided, further. that
nothing in this act contained shall he
construed as giving the assessor any
right to assess a non-producing mint.
claim at greater sum per acre thIn
is assessed per acre against the lowest
producing mine in the. same locality.
In addition an amendment was
adopted making more stringent the
rules to be followed by the State Board
of Equalization in arriving at the as
Sessable valuation of corporate prop
erty. The board must take for basis
the market value OF the stocks and
bonds but may deduct the valua Of
holdings not used in 'le operation af
the companies.