Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1909-08-13

! t'ngepey there may be- TAX iaDose1i' sttcn
| properly shali be appraised at It's clear
MatAet Valuf immediately upon the trans
Ter on as soea thereafter as practicable,
Inc value OF every future or limited estate,
income interest, or annuity dependent upon
any Ate Oh lives in icing. snail be de-
termined by the rule, method, and standard
| OF mortality and value employed by lie
ttP Pn OF insurance "A ascertaining
anhn1lies for the determination Of liabili-
les les OF llfe insurance companies except that
n rn+ rae q I1ksfest Tor making snch COM
putatlon shau be five per centum per an
:, In estimating the value Of any estate
or interest in property to the beneficial en-
joyment Of POSSESSION whereof there are
pbessohs or enrporaEions presently entitled
spect OF any contingent incompetence there
| on, ner IN respect of any contingency upon
the happening Of which the estate or prop
tipty or some part thereof or interest there
| III, might be abridged, defeated or dinin-
lshed provided, however, that in the event
OF such incunbranee taking effect as an ae-
tual burden upon the interest of the bene-
nciaty or In the event of the abridgment,
defeat, or diminution OF such estate or prop
| efty or interest therein as aforesaid, a re-
turn shall be made to the person properly
entitled thereto of a proportionate amount
| or such tax in respect Of the amount or
value of the REMEMBRANCE when taking effect
| or so much as will reduce the same to
| the amount which would have been as
| sessed in respect OF the actual duration or
extent OF the estate or interest enjoyed.
manner provided in section 1OS7--S.
a. Wnefe any property shall after the
passage OF this act be transferred subject
| 20 any charge, estate, or interest dctermin-
aoie bY the death of any person or at any
| period aseertainable only by reference to
aeath, the Increase OF beneht accPuing to
any person or corporation upon the extine-
ton or determ ination of such charge, estate
or interest shall be deemed a transfer of
property taxable under the provisions of
tnlS act IN the same manner as though the
person or corporation benefcally entitled
| thereto had then acquired such increase of
benefit from the person from whom the title
| derived.
3. When property is transferred in trust
| or otherwlse, and the rights, interests or
| estates of the transferees are dependent
upon contingencies or conditions whereby
ff a3yo may be wholly or ia part created, de,
! Ieated, extended, or abridged, o tax shall
| De imposed upon such transfer at the lowest
rate which on the happening of any Of the
Snsu hGen1ingencies or conditions would be
and such tax so imposed shall be due and
! payable forthwith out of the property trans
pen1ng of any contingency or condition
whereby the said property or any part
raereof IS transferred to person or eorpo-
! ration, which under the provisions of this
| act is required to pay a tag at higher
| 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
| in this act
g. Estates IN expectancy which are con-
| tIngent OF defeasible and in which proceed.
lngs Tor determination Of the tax have not
| Deen taken or where the taxation thereof
| has been held in allegiance shall be apprats-
| ed at their full undiminished 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 tn ex-
| an estate for life or for years can be di-
| vested by the act or omission Of the lega-
| tee or deVisee, it shall be taxed as if there
Section s. Section 1097-14 of the stat
qtes is amended to read; Section 1857
| Il. 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-
county court may by order direct, of the
time and place when he will appraise such
| appraise the same at its fair market value,
| as herein prescribed, and for that purpose
| the said appraiser is authorized to Issue
| suopG snas ana 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;
anu Ne Snat maze report tnereot ana or
| court, together with the dispositions Of the
| witnesses examined, and such other facts in
| relation thereto and to the said matter as
| the said county court may order or require.
| Every appraiser shall be paid on the certi-
| ficate of the county court at the rate of
and necessarily employed in such appraisal,
and his actual and necessary. travelling
ga and 9th the fees paid such witnesses
! paid to witnesses subpoenaed to attend in
| courts OF record, by the county treasurer
| out Of any funds he may have in his hands
| on account of any tax imposed under the
| provisions OF this act.
Section 9. Section 1876 of the stat
| utes is amended to read: Section 1887
| 10. /. The report Of the special appraiser
| shall be made in duplicate, one Of which du-
| plieates shall be fled in the office of the
| the attorney general = Upon fling such
| report. the county court shall forth
with give, twenty days notice by mail to all
| persons known to be interested Ia the
| estate, including the attorney general and
| public administrator of the time and
| report, and the county court. from such re-
port and other proofs relating to any such
| estate, shall forthwith at the time SO fixed,
| determine the cash value Of such estate and
| the amount of tax to which the same Is
| liable.
! ing such = appraiser upon giving twenty
| days notice by mail to all persons known to
| be, interested in the estate, including the
at the time so feed hear evidence and
F! determine the cash value Of such estate and
! the amount of tax to which the same is
| of any person interested in any estate is un-
| known to the executor, administrator, or
| trustee, notice cf the hearing In the mat
| ter of the report of the appraiser or
notice that the county court Without ap-
! pointing such . appraiser viii determine
| the cash value of an estate, shall be given
| 10 all such persons by publication OF such
! notice not less than three successive weeks
| prior to the time fixed for such hearing
! or determination in such newspaper pub
| lished within the county as the court shall
direct.
| g. II the county court without appoint
! ing such special appraiser decide to hear
/ evidence as TO the cash value Of the estate
| for Inheritance tax purposes, the court may,
| at the time of the appointment Of the regu-
lar appraisers Of the estate, on its own mo-
| fion. Designate an additional third appraiser
| to represent the county and state. and such
| additional appraiser shall report the fnven-
/ tory and appraisal OF said property with
| the other appraisers; or, in case of failure
/ to agree. In separate report. and be en-
| titled to compensation of three dollars per
! day for each day Necessarily employed In
] such appraisal and bis mileage, which fees