Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1903-06-24
POINTERS FOR ASSESSORS
SUPERVISOR GIVES INSTRUCT N To SUB
ORDINATES
Advises Them to Observe the New Mortgage Law
and Follow Closely Supervisor Gauper Issues
the Following Address;

In regard to assessment of tncumbered
real estate, assessing officers must per.
| form their duties strictly in compliance
| with chapter 37S laws of 1908 which
provide as follows;
Sec. 1. For the purpose of this act,
| the term mortgage shall be construed
to include every mortgage or other
conveyance of real estate and every lien
thereon created by contract given or in
| tended as security for the payment of
money, and shall also include the in
| debtedness secured TO DO paid by such
mortgage or other conveyance or lien.
| The tCrm mortgagee shall be construed
to include the holder of any such secur-
ity, and the term mortgagor shall be con
strued to include the owner of the real
estate subject, to such security or the
person entitled to redeem therefrom.
Sec 2. Whenever taxable real estate
| shall be subject TO mortgage such mort
gage for the purposes of taxation shall
be deemed an interest ia such real estate
and shall be assessed and taxed as such
interest. in the assessment district in
which the same is located and not other
wise and may be separately assessed
and taxed as hereinafter provided.
When so separately assessed, the inter
est of the mortgagor in such real estate
shall be assessed for only such value or
amount as shall remain alter deducting
the assessed value of the interest of the
MORTGAGE from the assessed value Of
the entire real estate.
Sec. 2. At the option of the mort
gagor both such interests may be asses sed
and taxed together without separate
valuation to the mortgagor or occupant
the same as unincumbered real estate.
Sec. 5. The interest of mortgage
in any real estate shall be separately
assessed and taxed as provided in this
act. The tax on such interest shall con-
stitute lien upon such real estate the
same as other taxes upon real
estate and the collection thereof NAV be
enforced the same as other taxes upon
real estate. Such tax if uncollected
shall be separately returned as delin-
quent, But at the tax sale, If unre
deemed, ghe interest of the mortgagor
and the interest of the mortgages shall
be sold together for the amount of taxes
on both interests and charges thereon,
and single certificate of sale shall be
issued thereon. The mortgagor NAV
pay the tax on the interest Of the mort
gagee, or may redeem the land from
the lien of such tax, after its return as
delinquent The amount so paid with
interest thereon at the rate specified in
the mortgage shall be lawful offset in
favor of the mortgagor against the in
debtedness occurred by such mortgage
and may be deducted from any amount
then due or thereafter to become due on
such Indebtedness But the law does
not provide any lawful offset in favor of
the mortgagor against the indebtedness
secured by such mortgage, if the inter
est O. the mortgagor and the interest
OF the mortgagee are not separately as
sessad. The law Dis iActiy states that
unless the mortgagor expresses his
option IS provided for in section three,
the mortgage must be separately as
sessed.
The duties Of an assessor under any
and all laws make ais position one Of an
inquisitorial character, and it is such
under the present law Il is incumbent
upon him 10 learn OF and find where
property subject to taxation is located
and situated. This is forced upon him
because the practice is common to avoid
the payment of just taxes at much as
possible.
The interest of the mortgage should
be assessed separately in all cases unless
the mortgagor should request or CON
sent TO the assessment of both interests
together, provided such separate as
sessment is not made contrary to Sec
ton 8