New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1911-05-03
the NEW TAX LAw
Moneys and Credits Must be
Listed With Assessor Under
Oath on. Separate Blanks.
Three Mills on Each Dollar:
Assessors of County in New
N =
Ulm.

The assessors OF cities, villages and
townships OF Brown Comfy met last
Thursday at the court house. Emil
Rasmussen of Evan presided and
Chas. Grussendorf of New Ulm acted
@ secretary. A complete list of the
connty's assessors is found elsewhere
In this issue.
County Attorney Erickson, who
attended the meeting Is legal advisor,
was instructed to obtain an opinion
from the state tax commission on the
provision of the new tax law, relating
toa mans debts whether they are
exempt from the special tax or not.
The new tax law was thoroughly
discussed and many new features came
TO light which will be great surprise
to number Of people when the
assessor makes his annual visit. We
advise our readers to carefully study
the new law which will be found in the
Supplement to this issue, chapter 285.
page II. r..
According to this new law all
'smoney", cash on hand or in the
bank and 'Credits" are subject to an
annual tax of three mills on each
dollar. Thus, if you are in Il position
to call 81 ,OGO (money or creoits) your
own, you will be taxed So, the posses
sion of $500 will extract S1.5O from
you, while 500 will be as cheap as
thirty cents. These taxes are in ad-
dition to your personal property. All
money and all credits must be listed
upon > seperate blank from that upon
(which other personal property Is
listed. The assessor must give
reasonable notice to tho inhabitants
of his district requiring each in
dividual, co.partner, company, asso.
citation or corporation to bring in,
not later than the first day of July q
true list of all their Moneys and
"Credits" taxable under this law.
And in all cases the assessor must
require the person furnishing the list
to make oath that it is as nearly
correct as he is able to make it and
this oath will be attached to and be
part of such list Now, be careful
and "fess up" how much money and
credits you possess. Again we advise
you to read chapter 285.
This new tax law ought to serve as
an incentive for people who indulge
in the bad habit OF calling money and
q bank account their own, but con-
sistently refuse to pay their debts.
The new act does not allow any
assessor to deduct the amount OF q
mans debt from his credits. There
fore, if you pay your debts your cash
will be smaller and your taxes less.
The revenue received on moneys and
credits are proportioned as follows:
One sixth to the state revenue fund;
one sixth to the county revenue fund;
one third to the city, village or town
and one third to the school district in
which the property is assessed.
Debts Can Not be Deducted.
LATER-Since the above was written
we are now i'll q position to publish
the decision of the State Tax Com
mission relative to deductions of debts
from moneys and credits. The in
structions, sent to County Auditor
Vogel are:
Hon. l.. G. Vogel, County Auditor,
New Ulm, Mimi.
Dear Sir:-In reply to yours of April
9th relative to the deductions OF debts
from credits for taxation purposes
you are advised that in the opinion OF
this commission the provisions OF
section 1876, Revised Laws, 1905 do not
adply to money and credits taxable
uluOr tQ0 new law. 1uC ChCoiy VI oHc
new law is that by reason of the low 3
mill tax rate upon money and credits
a much larger return of such property
will be obtained than was found under
the old law.
Yours truly
O. NJ. HALL,
Chairman.
In accordance with the opinion OF
The Tax Commission Auditor Vogel
sent to each assessor of the county the
instructions:
The Minnesota Tax Commission is
Of the opinion that the tax payers
deduct debts from the
credits which he may list under the
new law. You will govern yourself
accordingly.
Respectfully
LOUIS G. VOGEL.