Albuquerque morning journal., 1910-11-22

power to provide for the lew and col
lection OF license, franchise. excise
income, collateral end direct inherit
ance, legacy ana succession taxes. ~
20 graduated income taxes, graduated
Icollateral and direct inheritance tax
es. graduated legacy and succession
taxes. and other specific taxes, IL.
Guiding production and output al
mines Of lands and forests; but M
double taxation shall be permitted.
Sec. .. Tho enumeration Of sub
jects Of taxation In section two Of this
article shall not deprive the legisla-
ture of the power 10 iequire other
Iaubiects 10 be taxed In such manner
az mas be consistent with the prin-
ciples OF taxation fixed In this consti-
ltntion.
See. q There shall be levied annu-
ally for state revenue tax not 70
exceed four mills on each dollar O.
the assessed valuation ol the property
IN the state, except for the support
4 OF The educational. penal and chait-
| able Institutions OF the state. pay
lnent Of tho state debt and interest
thereon. For the first two years az
| ter this constitution goes into effect
| HE total annual tax levy for all state
| purposes exclusive Of necessary lcvies
! for the state debt shall not exceed
/ twelve mills; ana thereafter IL shall
not exceed len mills.
/ Sec. 8 a state board Of equaiza-
| tion is hefeby created which shall
consist 0i the governor. travelling au-
ditor. state treasurer. secretary OF
etate and attorney general. Until
| otherwise provided, said board shall
have and exercise all tho powers now
vested In the Territorial Board Of
1cquallza ton.
Sec. 6. The legislature shall have
no power to release OF Discharge amy
county, city, town. school district or
other municipal corporation or sub
division ef the state, from ~ proper
tlonate share Of taxes levied for any
purpose
Soc. T. The property Of the United
states, the state and all counties,
towns cities, and school districts and
other municipal corpOrnlons public
libraries community bitches and all
laterals thereof. all church property,
all property used for educational or
charitable purposes. All cemeteries
not used or held for private or cor
poiate profit. and all bonds OF the
state OF New Mexico, and Of the coun-
ties, municipalities and districts there
Of shall be exempt from taxation.
Sec. s. The power tC license ana
crty shall not be rolinQuished or sus-
pended by the state or any subdivls-
ion thereof: provided that tne legis-
Iaturc may BY general law, exempt
new railroads from taxation for not
more than six years, from and after
the completion OF any such railroad
and branches, such railroad being
deemed TO be completed for the pur-
pose OF taxation, rs 10 any operative
division thereof, when the same Is
opened for business to the public and
new suPar factories. smelters, rednc-
ton and refining works, and pumping
plants for irrigation purposes and ir-
rigaticn works, for not more than six
years from and after their esta blish-
ment.
Sec .. All property within the ter.
ritcrial limits OF the authority levy
ing the tax, and subject to taxation,
shall be taxed therein for state, coun
~ municipal and other purposes; pro-
vided, that the state bonrd of equal
cation shall determine the value 0f
All property OF railroad, express,
sleeping Cur. telegraph, telephone and
other transportation or transmission
companies used by such companies
IN the operation OF their railroad, cx-
press, sleeping car. telegraph, or tele-
phone lines. or other transportation
or transmission lines, and shall Ger
tify the value thereof as so dctermin-
ed to the county and municipal taxing
authorities.
Sec. 0. Any public officer max
Ing any profit out OF public moneys.
or using the same for any purpose not
authorized by law shall be deemed
guilty Of a felony ana snail be punish
ed as provided by law, and shall he
disqualified TO hold public office All
public moneys, not invested in inter-
est bearing securities, shah be de-
posted in national banks or In banks
or trust companies Incorporated un-
der the laws OF the state, and the in
terest derived therefrom shall be mp
piled in the manner prescribed by
law.
Sec. /. The legislature may ex-
empt from taxation property OF each |
head Of Il fnmily 90 the amount Of
two hundred dollars.
See. H. Lands held in large tracts |.
shall not be assessed for taxation at |
any lower value per acre than lands |
81 the Same character or quality and |
situated. held in smaller |
tracts. The plowing of land shall not |
be considered as adding value there
to FOR the purpose OF taxation.
See. ] 3. No execution shall issue |
upon any judgment rendered against |
the board OF county commissioners OF |
any county. or against any city, In |
town or village, school |
district or board of education; or |
against any officer OF any county, |
city school district or hoard of edu-
cation, upon any Judgment recovered |
a sainst him in his official capacity |
and tor which the county city incor
porated town or villugc school dis |
trict or board OF education. is liable, |
but the same shall be paid out OF the /
proceeds of a tax levy as other lia-
hllitics OF counties. cities, incorpornt- I
ed towns or villages, school districts
or boards OF education, and when so |
collected shall be paid hy the county |
treasurer 10 the Judgment creditor,
ARTICLE TX.