The McCook tribune. (McCook, Neb.) 1886-1936, 1903-04-24
NEW REVENUE law
A Condensed View of the Taxa.
ton Measure
THE TAXABLE PROPERTY
Bill Defines Terms Used in Relation to
Taxation-Rea Property, Real Es-
tate, Lands, Personal Property.
Money, Etc, All Explained

lions Of all the terms used in relation
to taxation. Real property, real estate,
lands, personal property, money and
all other debatable terms are all ex-
planned.
Inc following property is taxable:
Sec. 12-An property in this state not
expressly exempt therefrom, shall be
subject to taxation, and shall be valued
at its actual value which shall be en-
tered opposite each item and shall be
assessed at 20 per cent of such actual
value. Such assessed value shall be
entered in a separate column opposite
each item, and shall be taken and con-
sidered as the taxable value at which 1t
shall be listed and upon which the levy
shall be made. Actual value as used
in this act shall mean it's value in
the market in the ordinary course of
trade.
The following property is exempt
from taxation:
Ffrst-All property CT the state, coun-
ties and municipal corporations.
Second-Such other property as may
be used exclusively for agricultural
and horticultural societies, for schools,
religious, cemetery and charitable pur-
poses. In the assessment of real es-
tate, encountered by a public ease
ment. any depreciation o%ccasioned by
such easement shall be deducted in the
valuation of such property. The in
creased value of lands by reason of
live fences, fruit and forest trees grown
and cultivated thereon. shall not be
taken into account in the assessment
thereof.
The following provisions are made
for tax liens:
Sec. 14-TaXes on real property shall
be a lien thereon from and including
the first day of April of the year in
which they are levied until the same
are paid.
Sec. 15-Taxes assessed upon per-
sonal property shall be a lien upon the
personal property of the person to
whom assessed from and after the first
day of October of the year in which
they are assessed, until paid.
Sec. 16-When property is assessed
to any person as agent for another, "
in a representative capacity, such per-
son shall have a lien upon such prop
erty, or any property of his principal in
his possession, for the taxes thereon
until he is Unidentified against the pay
ment thereof, if he has paid the taxes,
until he is reimbursed therefor.
Sec. 17-All general taxes due the
state, county, school district, town. road
district, city or village, shall be a first
lien on the real estate on which levied
and take priority over all other en-
cumbrances and liens thereon.
Sec. 18-All special assessments, reg
ularly assessed and levied by any
county or municipality, duly author
lied, shall be a lien on the real estate
on which assessed, as provided by the
statute authorizing the same, but shall
be subject to the general taxes men
toned in the last preceding section.
County assessors are to be elected at
the general election in 1903 and every
-four years thereafter. The first Thurs
day after the first Tuesday in January
is the date set for taking the office.
No assessor shall be eligible for cleo
ton for two consecutive terms and
shall hold office for four years.
The county assessor and the county
board shall determine the number of
deputies necessary in the different sec
tons of the county. The county as
SCISSOR must provide a bond for not less
than So, 900 more than $4,000. The
county assessors shall receive the fol-
lowing compensatiOn: In counties haV-
ing a population of 5000 or less, $3.50;
in counties having a population from
5 1000 to $1,000, $3.50; in counties having
a population of 10000 to 10000, $500;
in counties having a population from
80, 200 to $1,000, $500; in counties hav-
ing a population from $4,000 to 100, 900,
81, 200; in counties having a population
of over 100, 900, 1900.
The compensation of the deputy as
SCISSORS shall be So per day for the time
actually and necessarily employed. The
county superintendent must furnish the
with maps of the townships
or precincts, and must also supply the
deputies.
A penalty of not less than $40 nor |
more than S1C0 is provided for neglect
or duty on part of any assessor or
assessor.
PERSONAL PROPERTY.
Personal property shall be listed by
the following persons:
Every person of full age and sound
mind, being a resident of this state,
shall list all his moneys, credits, bonds. |
or stocks, shares of stock of joint stock
other companies, when the capital
stock of such company is not assessed
in this state. moneys loaned or in
anuities, franchises. royalties,
and all other personal property.
He shall also list all moneys and
other personal property invested.
or otherwise controlled by him
as the agent Or attorney. or OF account
Of any other person or persons, en-
pany or corporation whatsoever. and
all moneys deposited subject to his Or
der, check. or draft and credits due
from any person or persons. body or
Dorate or polite, whether in or out of
he county.
The property of a minor child shall
be listed by his guardian; if he have
no guardian. then the father, if living;
f not. by the mother. if living. and
f neither father of morther be living.
1y the person having such property in
The property of any other person I'M