Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1909-07-14

ItulE OF Inc EEalS4tE lAtEEOL o. NlG property
OF persons whose estate snail be subject 10
the payment OF any tax imposed by this act.
=. Whenever q transfer OF property is
made upon which there is, or IN any con
urgency there may be, tax imposed, such
property shall be appraised at its clear
marEet value Immediately upon the trans
dsF OF as soon hereafter as practicable
The value OF every future or limited estate,
income, interest, or annuity dependent upon
any life or lives ia being, shall be de
termined by the rule, method. and standard
OF mortality and value employed by the
commissioner Of insurance N ascertaining
the value Of policies Of life insurance and
snnuities Ter the determination OF liabih-
les OF 4lfe INSURANCE companies except that
the rate OF interest TO- lassrg such COM
patation shall be five per eent>'m per an
or interest in property TO the beneat ial en-
loynent Of possession whereof thele are
persons or corporations presently entitled
thereto. M allowance shall be made In re-
speet Of any contingent ineumbrance there
on, nor in respect OF any contingency upon
the happening OF which the estate or prop.
efty o. some part thereof, or interest mere
in. might be abridged. defeated. or dlnin-
ished provided. however, that in the event
OF such lncambrance taking effect rs an &C
tual burden upon the interest OF the bene-
heiary or in the event Of the abridgment,
defeat, or diminution Of such estate or prop
erty or interest therein MS aforesaid, a re-
turn shall be made 70 the person properly
entitled thereto Of a proportionate amount
Of such tax in respect Of the amount or
value of the incumbFance when taking effect
or 50 much as will reduce the same 10
the amount which would have been as
sessed in 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 10ST---S
Z. Where any property shall after the
passage OF this act be transferred subject
10 any charge, estate, or interest deterTnin-
able by the death of any person or at any
period ascertainable only by reference 10
death, the increase OF beneft accruing TO
any person or corporation upon the exttnc-
tion or determination of such charge estate
or interest shall be deemed a transfer OF
property taxable under the provisions Of
this act in the same manner as though the
person or corporation benehcially entitled
thereto had then acquired such Increase of
beneft from the person from whom the title
to their respective estates or interests is
5. When property is transferred in trust
or otherwise, and the rights, Interest or
estates OF the tTansferees are dependent
upon contingencies or conditions whereof
they mag be wholly or 10 part created, de
feated, extended, or abridged a 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
9hd 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 person or corpo
ration, which under the provisions of this
act is required to pay tax at a 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
Snail be enforced and collected as provided
In this act.
&. Estates In expectancy which are CON
tngent or defeasible and In which proceed
ings for determination Of the tax have not
been taken or where the taxation thereof
has been held ia allegiance shall be apprais-
ed at their full undimln;' he'd 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 eK-
pectancy may have been limited. Where
an estate for life or for years can be d.
vested By the act or omission of the iega-
tee or devisee, It shall be taxed as If there
were no possibility Of such diyesting.
Section S. Section 1OST-I4 of the stat.
utes is amended to read Section LOST
Il Every such appraiser shall forthwith
give notice by mail to all persons known to
nave claim or interest in the property
10 be appraised including the public au-
Illustrator and TO such persons as the
county court may by order direct. of the
time and place when he will appraise such
property. He shall. at suci, 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
subpoenas and to compel the attendance
OF witnesses before him and to take the evi.
usIce OF suc4 witnesses under oath concern
ing such property and the value thereof
ana he shall make report thereof and of
such value in writing, to the said county
court, together with the dispositions of the
witnesses @"9mined, and such other facts In
relation fLereto 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
ana necessarily employed In such appraisal
ana his actual and necessary travelling
nuid sr.nh rr#tTv
which fees shall be the same as those now
paid to witnesses snbpoenaed to attend in
courts OF record, by the county treasurer
on account of any tax imposed under the
provisions of this act
Section 8. Section 1os7-15 Of the stat.
uIes Is amended to read: Section 1857
10. l. The report of the special appraiser
shall be made in duplicate, one Of which tiu-
piicates shall be fled in the office OF tie
county court and the other in the once OF
the attorney general Upon filing such
report e the county court shall forth
with give twenty days notice by mail to all
estate, including the attorney general and
public administrator . 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. shall forthwith at the time SO fixed
determine the cash value o. such estate and
Liable. - y "'A '"e SAAe -
2. o. me COMFY court without appoint
ing such appraiser upon giving twenty
days notice by N all to all persons Known to
be interested In tire estate. Including the
attorney general end public administrator
OF the time aud place of hearing, may
at the time 30 fixed hear evidence and
determine the cash value u such estate and
the amount of tax to which the same Is
Liable. II the residence or postoffce address
OF any person interested In any estate ia I'M
known to 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 ap-
pointing such . appraiser will determine
the cash value Of an estate shall be given
TO all such persons by publication Of such
notice net less than three successive weeks
prior to the time fixed for such hearing
or, determination In such newspaper pub
lished within the county az the court shall
direct
3. 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-
ton, designate an additional third appraiser
10 represent the county and state, and such
additional appraiser shall report the inven-
tory and appraisal of esfd property with
the other appraisers; or, In case of failure
20 agree, In a separate report, and be en-
titled to compensation Of three dollars per
such appraisal and HIS mileage, which fees
shall be paid on the certificate OF the
county judge BY the county treasurer out OF
any OF the states Inheritance sax funds
he may have in his possession.
4 TIE commissioner OF Insurance shall
on application Of any county conrt deter
mine the value OF any such future or con-
tngent estates income, or interests there
in, limited, contingent, dependent, or deter
Dinabie upon the fife or lives Of the person
-. L~ln 4. a.