The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1909-07-15

appraiser TO ia the fair market vaIue al the
zane OF the Transfer tnereoI Oh the property
oI persons whose estate snail be Subject TO
Tue pa. hient VI any TAX imposed by tiis act.
| =. " Aenevei transIef OF property is
MADE upon which there is, or III any con
| AseDcy there may be, Tax imposed, sueh
| property sAail DC APPRAISED at It's Clear
| iharnet vaiue luiineaiate.y upon the trans
! Ter o. as SOON thereafter as practicaDe.
| 1 he value OF every fatufe OF limited estate,
| Income, Interest. OF annuity dependent upOA
any lie OF ives IN pelas, snail be de
i termined by the rule. metnod. and standard
! OF mortality aud vaiue employed by iAe
| commissioners OF Insurance "A ascertaining
| the yalue OF policies OF life insurance ana
! annuiies for the datermGaIOH OF habill'
! es OF lie INSURANCE companies except that
| the cate Of literest for making such com
| pntHton shall be five per centuin per an
| 5. In estimating rDe value OF any estate
| or interest 10 pi opcfty to the beneficial en-
| JoyIaent OF possession wdtreof there are
| pei SONS or corporations presently entitled
! thereto, no allowance sinai! be made in re-
spect Of any contingent incuIlbi anCe there
| on, nor ID respect u any contingency upon
the happening Of which tue estate or prop
| er'y OF Some part thereof. or interest there
| in might be abridged defeated, or dirnin.
| ished provided. hSwsver, that IN the event
| OF such incambfauce takins eject as al &c
tual burden upop The interest u the bepe
heiary or In tAe event Of the nbridgMent,
| defeat, or diminntiou of such estate or prop.
| erty ~ interest tuerelu as Aforesaid, re.
| turn snail be made to the person properly
| entitled thereto of a proportiopate amount
| Of such tax IN respect of the amount or
| value of the incuUbrance when TAX ny effect
| or ~ much as vii! reduce the same to
| the amount which wouid have been as
| scssed In tespec, OF the actual duration or
extent Of the estate or interest enjoyed.
! Sncb return OF tax shall be made 10 the
aianpsr provided In section l0S7-S.
| 1. Where any property shall after the
| passage of this act be transferred subject
to any Charge. estate. or Interest determih-
| able By tie death Of any person or ar any
period ascerta!habje only by reference to
| death the increase of benefit accruing to
ahy person OF corporation apon the rxiinc.
ton or determ IA ton OF such charge, estate
! or interest shai be deemed a transfer OF
property taxable under the provisions Of
this act In the same nianu"r q thougb lie
| person or corporation tenefcially entitled
thereto had then acquired such Increase Of
benefit from the person from wHom the title
TO their respective estates Interests Is
derived.
8, When property Is transferred In trust
| or otherwise, and the ghts, interests or
estates Of the trsnsferees are dependent
upon contingencies or conditions whereby
they may be wholly or In part created de,
feated. extended. or abridged, tax shall
b" imposed upon such trausfer Mt the lowest
rate which on the happening of any Of the
said contingencies II conditions would be
Possible under the provisions Of this act,
and such tax So imposed shall he due and
payable f0rthw tn ont Of the property trans,
ferred provided however. that on the hap.
rching OF any contingency OF condition
whereby the said property or any part
thereof Is transferred to person ar corpo
ration Which uuder the provisions of this
act Il required 10 pay tax at a higher
rate than the tax imposed then such
transf"r"e shall pay the difference between
the tax imposed and the TAX AZ the higher
rate, and the amonut of such increased tax
shall be enforced and collected as prov ded
IN this act.
i. Estates In expectancy which are con
nhsent or oeteasib,e and In wh.cA proceed.
'Lss fof uetcfuIilatiou VI the tag uApe not
Oteh tateh VI where the taxation thereof
mas Oeen He!d ID aOeyance sGaAi De appras
Ell at Their full uuiiin, HisAed clear value
when the PERSONS euulied thereto shall
cotne INTO the beneficial enjoyment or pos
session thereof without dlminntion for or
on account OF any valuation Heretofore
made OF tie particular esta ties for purposes
OF taxation upon which said estates IL sx-
pectahey naJ nave been limited Where
vested by the act or omission Of the iesa,
tee or devisee. II shall be taaed 30 + there
were no possibility Of such dves,log
-, section ., section lus'--l4 Of tue stat.
- Livery such appraiser sinai. forthwith
give notice by mail to all persons tao.n to
nave claim or interest In tue property
ministrator - anu to aucn persons 40 the
county court may BY order direct of the
time and place when he VIII apprslss such
property. lie shall. at such time and place
appraise the sans al Its fair market value
az herein prescribed, and for thai purpose
the said appraiser is authorized to Issue
OF witnesses before him and 10 take the eyi.
dence al such witnesses under oath concern
ing sucb property and the value thereu.
and he shall make report thereof and OF
sueh value In writing, TO the said county
court, together With the depostiOhs OF the
witnesses examined. aud such athsr facts Ia
reietfon thereto and TO the said matter 81
the said county cour1 may order or require
every appraiser shall De paid on the cert.
hcats Of the county court a, the rate Of
three dollars per day for every day actually
NJ rti l.
and his actual and necessary travelling
expenses and the fees paid such witnesses.
which tees shall be the same as those now
paid to witnesses subpoepa&d TO attend In
courts of record, by the county treasurer
out OF any funds he usy have In hts hands
on account of any tax Imposed qnder the
section . section ios7--1o OF tn. ,t.t.
utes Is amended 10 read Section tos1-
ID The report Of the special appraiser
shall BE- msds 10 duplicate. one OF which du.
couuty court ard the other In the o~c. Of
the attorney general Upon glins such
report, the county court sosll forth
with give twenty days notice ~ mail to ell
persons known to be interested in the
estate estate iocindina the attorney geosr,i and
pubic administrator " the time ana
place for the bearing In tire matter Of sucn
report, and the county court from such re-
port aud ether proofs tslsttrs to an, u,rcb
estate shal forthwith at tho time 80 asrd,
determine the cssh vsIp< OF slcb essa,s aud
liable.
2 Or the county court without appoint
ing n'ch appraiser upon giving twenty
days nottrr BY mall 10 ell p-rsons known 10
be Interested 10 the estate, including the
attorney general and public admit oistrs tor
80. 81 the tim. and place of h-srinx. may
ct the time 90 hIc5 hear evidence and
determine the cash value Of such .ttsts aud
the sM"rat of TAX 10 which the sans Ia
,iabse, II the residence or p<rstoifice address
Of any person Interested in any ~.tAte 10 IN
Known 10 the executor. adniini strnfor or
trost"e notice Of the hearing In the mat
notice that The county court without ap
pointing such aprrala%r will determine
the cnah value NJ az sstate, shall " given
to ~ such parsons By pubiscs alton of s.ca
PRIOR 20 the time 6.el for sucb hearing
or determination II pich newspaper pub
lishe'i within the county ~ the court shall
direct.
g. II the county court without aps-,int
ing snch sprrist Appraiser decide to hear
evidence AS to the cash vaiue Of the estate
Tor tnbrrfthhcr tar pury,osss the court msy,
81 the time of the sp,,oin,urn' Of the seru
lar appraiser. u the esyat. or u own mo
ton, designate ar Additional third appra ser
to represent the esrIbt, ard s'a,s ard snce
sdat'ionai &pprsi-~. shalI report the ,n,~u
'nry snd arrrslss' Of ss'd pr-r~rt, VIA
titled 70 compensation af hr-~ toli.r. Der
1sy for each lay n-r~.satti, ,papa,As Ia
rach 'pprs's.l ana his ,s'rass Which fees
county fuds~ ~ the co'srt, treasurer Oh, Of
say II Is. s'-tr', ,nh.vi,s.es tan FINDS
he msI hr@- In sis p .s~~s'na
The cnTna isSionsr N insurance shall
on application Of any e-unty ~ourf deter
mine he ysin- Of snY such rsJrvrr o, ron
tinsent estates ineame, interests there
IN lim'red, contingent, dependent. or deter
m'nnh'e upon the Ute or ltse, Of the person
nor "a "a aI,sl