River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1909-07-15

the payment OF any lkOpJSSu " bL1p d(I
q Whenever a transfer of property Is
made upon which there is, or In any con-
tingeney there may be, tax Imposed, sucn
property shall be appraised at its clear
market value Immediately upon the trans
fer or as soon thereafter as practicable
The value OF every future or limited estate,
income, interest, or annuity dependent upon
any life or lives In being, shall be de-
termined by the rule, method, and standard
OF mortality and value employed by the
commissioner Of insurance IN ascertaining
the value Of policies of life insurance and
annuities for the determination of liabili-
ties of life insurance companies except that
the rate of interest for making such COM
putation shall be five per centum per an
3. In estimating the value Of any estate
or interest in property TO the beneficial en-
Joyment Of possession whereof there are
persons or corporations presently entitled
thereto, no allowance shall be made in re-
spect Of any contingent incumbrance there
on, nor in respect Of any contingency upon
the happening of which the estate or prop
erty or some part thereof, or interest there
Ia, might be abridged, defeated, or dinlin-
tshed provided, however, that In the event
OF such incumbrance taking effect as an ac-
tual burden upon the interest of the bene-
hciary or In the event of the abridgment
defeat, or diminution Of such estate or prop
erty or interest therein as aforesaid, re-
turn shall be made to the person properly
entitled thereto Of a proportionate amount
OF such tax In respect Of the amount or
value Of the incumbrance when taking effect
OF 50 muC0 as Will feQuce the same u
the amount which would have been as
sessed In respect of the actual duration or
extent OF the estate or interest enjoyed.
manner nam FeS provIdsd in section 1 loss
4. Where any property shall after the
passage Of this act be transferred subject
to any charge, estate, or interest determin-
able By the death of any person or at any
period ascertainable only by reference to
death, the increase of benefit accruiDg to
any person or corporation upon the eztlnc-
@HrWT AAku fwsok - EDn Cfo4
or interest shall be deemed transfer of
property taxable under the provisions OF
this act In the same manner as though the
person or corporation beneicially entitled
thereto had then acquired such Increase OF
benefit from the person from whom the title
70 their respective estates or interests is
derived.
s. When property is transferred In trust
or otherwise, and the rights, interests. or
estates Of the transferees are dependent
upon contingencies or conditions whereby
they may be wholly or In part created, de-
feated, extended, or abridged, tax shall
be imposed upon such transfer at the lowest
rate which on the happening OF any of the
said contingencies or conditions would be
possible under the provisions of this act.
and such tax so imposed shall be due and
payable forthwith out Of the property trans
ferred; provided, however, that on the hap
pening Of any contingency or condition
whereby the said property or any part
thereof is Transferred to q person or corpo-
ration, which under the provisions of this
rate than the tax imposed, then such
transferee shall pay the difference between
the tax Imposed and the tax at the higher
rate, and the amount of such increased tax
shall be enforced and collected as provided
In this act.
@. Estates In expectancy which are CON
tlngent or defeaSible and in which proceed
lngs for determination of the tax have not
been taken or where the taxation thereof
has been held In allegiance shall be apprais-
ed at their full undimiDished clear value
when the persons entitled thereto shall
come into the beneficial enjoyment or pos
session thereof without diminution for or
on account of any valuation heretofore
made OF the particular estates for purposes
OF taxation upon which said estates In ex-
pectancy may have been limited. Where
an estate for life or for years can be di-
vested by the act or omission OF the lega-
tee or devisee, 1t shall be taxed as If there
were no possibility Of such diYesting.
Section 5. Section 10S7--14 Of the stat
utes 10 amended to read: Section 1857
IA Every such appraiser shall forthwith
give notice by mail to all persons known to
nave claim or interest in the property
to be appraised, including the public ad-
ministrator and to such persons as the
time and place when he will appraise such
property. He SHALL at such time and place,
appraise the same at its fair market value,
as herein prescribed, and for that purpose
the said appraiser is authorised to issue
subpoenas and to compel the attendance
OF witnesses before him and to take the evil
dence OF such witnesses under oath concern
Ing SUCH property and the value thereof !;
and he shall make report thereof and OF
such value In writing, to the said county
court, together with the dispositions of the
relation thereto and to the said matter as
the said county court may order or require
Every appraiser shall be paid on the certi-
ncate Of the county court at the rate Of
three dollars per day for every day actually
and necessarily employed In such appraisal
and his actual and necessary travelling
expenses and the fees paid such witnesses,
which fees shall be the same as those now
paid to witnesses subpoenaed to attend In
courts OF record, by the county treasurer
out OF any funds he may have In his hands
provisions Of this act.
Section 0. Section 109T-15 Of the. stat
utes Is amended to read: Section 1857
10 b. Tss report e IF the special sgPgsr
piicateS shall be hled In the Office of the
county court and the other in the once OF
re e sf fhs countv Upon hning sgSs
with give twenty days notice by mail To all
persons known to be interested In the
estate Including the attorney general and
place for the hearing In the matter OF such
report ana the county court, from such re-
port and other proofs relating to any such
estate, ahall forthwith at the time 10 6xed,
determine the cash value OF such estate and
the amount OF tax to which the GaEne In
liable.
2. Or the county court without appoint
Ing such appraiser upon giving twenty
days notice by mail to all persons known to
be Interested In the estate, including the
attorney general and public administrator
OF the time and place OF hearing. may
at the time 50 Axed hear evidence and
determine the cash value OF such estate and
the amount OF tax TO which the same is
liable II the residence or postoflce Address
OF any person Interested In any estate IL I'M
known 90 tho executor, administrator. or
trustee notice Of the hearing In tho mat
ter OK the report Of tho appraiser or
notice that Gnc county court Without APP
pointing such appraiser will determine
to all such pergons By publication Of Euch
notice not less than three successive weeks
prior b the time fixed for zach hearing
or d9eerntnAtton In such R0wEpaper pub
lisheo wxthm tne county - tho court shan
g. II the county court without appoint.
ing such special appraiser decide 70 hear
evidences as to the cash value OF the estate
at ehe time Of the appointment OF the reKu.
lar appraisers Of tue esEatN, on its own mo-
ton, designate an additional third Appraiser
to represent the .county and state. and such
tory Ana spprsissi Of said prspsr t viii
tie OtAez eppraisers; %. in case % failure
tdtssa to eonpensatten ct fares dellars pm
scSA spvSaiaal ana his niissxa wSiSA ices
nh&n be paid on the certificate Of the
eensy S1ass sE O. esSHtz neasursr cut e
4 The csmmissioasr e lnsuraaes man
en apEfiestica Of any eounky court deter
mine he valus Of any sucA futnre o. con-
tinssnt sst2tsa income, or interests there
mIna6ls upon the lie o. lives a he psrson
Or peEeoDs In beGng upon tn facts contained
a such special appseisss.s report % upon