Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1909-07-08

Of persons whose estate shall be subject 70
the payment Of any tax imposed by this act
2. Whenever a transfer Of property IS
made upon which there is, or in any con
t!ngency there may he, tax imposed, sacA
property shall be appraised at It's clear
market value Immediately upon the trans
fer 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 5y me
commissioner Of Insurance IN ascertalning
the value Of policies Of life insurance ana
annuities for the determination Of Iiabil-
ties Of life insurance companies except Lhat
the rate Of interest for making such com
putatiou shall be five per centum per an
mum
g. In estimating the value Of any estate
or interest in property to the beneficial en-
joyncut Of possession whereof there are
persons or Corporations presently entitled
thereto no allowance shall be made in re
gpCCt Of any contingent Incunbrance there
on nor in respect Of any contingency upon
the happening Of which the estate or prop
crty or some part thereof, or interest there
In, might be abridged, defeated, or dimin-
ighed provided, however, that in the event
Of such inCumbrance taking effect as an &C
tual burden upon the interest Of the bene-
HCary or IN the event Of the abFidgment,
defeat, diminution Of such estate or prop
erty or interest therein as aforesaid, a re-
turn shall be made to the person properly
entitled thereto of a proportonate amount
of such tax in respect Of the amount or
value Of the incumbrance when taking effect
the amount which would have been as
Bessed Ia respect Of the actual duration or
extent Of the estate or interest enjoyed.
Such return Of tax shall be made in the
manner provided In section 1OS7--S.
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 Escertainable OuIy by reference to
death, the increase Of benefit accruiDg to
any person or corporation upon the eEtlnc-
tion or determination Of such charge, estate
or interest shall be deemed q transfer of
property taxable under the provisions Of
this act In the same manner as though the
person or corporation benefcially 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 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
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
pcning Of any contingency or condition
whereby the said property or any part
thereof Is transferred to a person or corDO-
ration, which under the provisions Of this
act Is required to pay tax at higher
transfeTee 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 PC provided
IN this act.
g. Estates in expectancy which are con
tingeut or defeasibe 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 undiminisDed 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 or the particular estates Tor purposes
OF taxation upon which said estates in eX-
pectRnCy may have been limited. Where
an estate S for life or for years can be di-
vested by the act or omission of me lega-
tee or deVisee, 1t shall be taxed as IL there
were 10 possibility Of such divesting
Section 5. Section 1O87-14 Of the stat
uJes Is amended to read: Section 1857
IL Every sach appraiser shall forthwith
give notice by mail to all persons known to
nave a claim interest In the property
10 De appraised, including the public adj
ministTator and to such persons as the
county court may by order direct, of the
time and place when he will apDraise 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 authorized to Issue
Eubpoenas 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
witnesses examined, and such other facts in
relation thereto and TO the said matter
the said county court may order or require
Every appraiser shall be paid on the cert
hcdte 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 subpOenRed 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 8. Section 1O87-l5 Of the. stat
utes Is amended 10 read: Section 1857
10. l. The report of the special appraiser
shall be made in duplicate, one of which du-
plicates shall be fled in the office Of the
county court and the other in the Office of
the attorney general Upon diing such
report, the county court shall forth
with give twenty days notice by mail to all
estate, including the attorney general and
public administrator 1" of the time and
place for the hearing in the matter Of such
report, and the county court, from such re-
port and other proofs relating to any such
estate, Rhall forthwith at the time so axsd
determine the cash value OF such estate and
liable
2. Or the county court without appoint
Ing such appraiser upon giving twenty
days notice By mail to ell persons known 70
be interested In the estate, including the
attorney general and public administrator
or the time and place Of hearing, may
determine the cash value Of such estate Rad
the amount OF tax TO which the same Is
liable. II the residence or postoIdce address
or any person interested In any estate In IN
known 20 the executor, administrator, or
trustee, notice Of the hearing In the mat
ter OF the report Of the appraiser or
notice that the county court without APP
pointing such " appraiser will determine
the cash value of an estate, shall be given
to all such persons by publication on such
notice not less than three successive weeks
prior to the time fixed Tor such hearing
or determination IN sUch Newspaper pub
direct
8. II the county court without appoint
ing such special appraiser decide to hear
evidence as TO the cash value OF the estate
foC lnbcEttAr ce tax purposes, the court may,
at the time Of the appointment OF the regu-
lar appraisers OF the estate, on itE OWE
ton, designats an additional third appraiser
to represent the county and state and such
additional appraiser shall report the Iavsr-
the othcz Appraisers; er, In case OF failure
20 agree, In separats report sBS be ca
dtlsS 70 compensation of three dollars per
d&y Sor each day necessarily employed In
Euca appraisal and ais nailssge, which tess
shall be paid on the certificate Of TIC
c0uzty judge ~ the eeuaty treasurer cut of
any OF the stkbs's iahsritSncs TAX runSs
be may have IL his posgeSSLoe.
4 The ecurizstcuer Of Insurance shall
on application OF any county SQUIRT deter
mine the value Of any such future er con-
ttngent estates. Income. or interests there
in, limited, contingent, dependent or deter
minRble upon the life or lives OF the person
or persons In being upon thu facts contained
In such special appraisers report or upon
the facts contained in the county courts
finding ard determination and certify the
same % the county court, and his certid-
cate ghSu be presumpttye evidence that the
method Of computation adopted therein is