North Park union., 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 all
mines shall be divided into two classes.
producing and non-producing. All
whose gross production shall exceed
$1,000 year being in the former class.
Between the 1st and 10Th of January
in each year mine owners shall deliver
ment showing:
First-Tbe name of the mine or min
ing claim.
| SecOnd-The name or names or the
owner or owners thereof.
Third-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
| snme 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-'rhe 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 Il 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
or lie less than the highest amount that
any non-producing mine in the same
| district Is assessed at. Surface I'M
| provements and machinery shall be
separately valued and taxed at fulI
cash value If owners neglect to make
the required statement the mine snail
be assessed Mt full cash value. The
assessors have power to examine
books and accounts in order to verify
owners statements, and if The latter
are found false the assessment shall
be Mt full cash value.
Section S2H provides:
And the property owned by any min
ing corporation shall be held to repre-
sent the value of its capital stock tvr
| the purpose of taxation. provided. That
| the manner OF assessment aIu taxation
| in the sections herei.laD)vA set forth
| shall appiy Orly TO mines lLd 'r: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 "f
iron. coal asplialtum. quarries and
lands valuable because containing 9th
| err metals, minerals, or carths, all VI
which shall he 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 ascertaining 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
Il fair and equitable valuation OF such
property; and. provided. further, that
nothing in this act contained shall be
| construed as giving the as.sesso" any
right to assess Il non-pi reducing mimi.
claim Mt 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 he 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 value OF
holdings not used in the operation of
the companies.
| In case an assessor wilfully max IS an
erroneous assessment and the Board
of Equalization so certifies to the gov
ernor, the latter shall summons the
derelict official before him and investi-
gate the charges. In case the assessor
Is found guilty he shall be removed by
the governor and his successor named
by the Board Of County Commission
ers. s-t
The House amendment giving the
county commissioners power to re-
view the findings of the assessor is
stricken out and provision inserted
compelling the aggrieved taxpayer to
appeal to the courts.