Staunton spectator and vindicator. [volume] (Staunton, Va.) 1896-1916, 1908-03-27
Timber Must Yield Taxes.
Sterrett Bill Passes Which Will Add
Greatly to the Treasury.

Delegate S. w. Sterrett of Highland
county, Ibelieves that the Common
wealth willgderive thousands and thou
sands of dollars in the way of increased
revenue from bis emergency bill amend
ing chapter % of,the Code, in! relation
to the assessment of lands, etc. The
measure changes the law so as to make
it provide for the assessment of. stand
timber trees. .-It reads..ssin part as fol-
lows:
A"The several commissioners of the
revenue Of. the States.shall, on Or before
the,15th day of May, ssl9OS, and each
year, thereafter, separately assess. at the
fair market value all mineral lands and
the improvements, fixtures and machi-
merry thereon, ends' all standing mer-
chantablei timber trees heretofore or
hereafter sold andsconveyed. to. parties
not owningsthe surfaceswithinEt heir ire
spective districts, and shall enter the
same on the land books of their respec-
tive districts separately from other
lands charged thereon, and shall extend
the taxes ssupon said lands, improve
ments, fixtures and machinery, and
said standing;.:ss ssmerchantable timber
trees, assessed.as. aforesaid at the rate
fixed by law upon tangible.property.
"The commissioner, in assessing
mineral lands, shall set forth.upon the
handbook the area and the fair market
value thereof, sfirst, of..such. portion Of
each tract as is improved and under de-
velopment; second, .the5 fairEmarket
value of the Improvements, fixtures and
machinery upon each tract; and third,
The area. and ,thesfair marketa value Of
such sportion of each tract as shall not
be under Development; and in assessing
standing merchantable. treess he shall
set forth the fair marketavalue. thereof.
Ifsthe surface. of the landi is SHIELD Shy
one person, and the standing merchant
able. timber..trees, sor.. ..thescoal, iiron and
other minerals, mineral j. waters, gas
or oil underIthessurface be held by an
otherIperson, sthe estate.therein of each,
and the relative. air..markets value of
their respective interest, shall be ascer-
tanned by the commissioner.
'TThesseveral commissioners shall, on
or before the!l5th day of May in every
year, certify copy of such assessments
made in theirsslrespective districtss of
mineral landssand minerall rights as
aforesaid to the State Corporation Com
mission, with .thesname and postofice
address of eachsperson,s sfrm.-or corpora
ton inswhose name any such lands. or
interest therein shall have been assessed
upon. ..the.land book fshis district. with
the amount of tax extended thereon.
Upon.receivinglthe copy aforesaid the
Corporation Commission shall examine
into the Justice of any such assessments,
and if it shall appear tol:the commits
sion that any tractsof land or anyspart
thereof, ..or.the Improvements, Fixtures
or machinery thereon, or any right or
interest in the same, ..or any part there
Of. has not been assessed at its fair
market value, the said commission
shallSdirect -thesattorney for the. Com
monwealth for the county or corpora
ton wherein such land or interest
therein sc. assessed isisituated, or any
other special attorney it may designate,
to apply in the name of the common
wealth to the circuit court of the county
or corporation.court of a city to have
said assessment corrected, which court
shall have jurisdiction for the purpose
Any person feeling himself aggriev-
ed by the assessment Of his timber or
lands or interest therein hereunder may,
at any time prior TO the 1st day of Feb
ruary next succeeding, apply to the
circuit court of the county or corpora
ton court of the city in which the land
lies to have said assessment corrected. I"
The bill goes into effect at once.