The herald., 1912-10-17

Insurance bonding or surety corpa-
MES OF such other State or couutry, So
long as such laws continue III force
the same obligations and prohibitions
Of whatsoever Kind may be imposed by
the General Assembly OF tins State
upon insurance, bonding or surety COM
pdHles OF such other state or country
DONG business il this State.
- irrigation canals shall be taxed
on percentage not To exceed Two pei
cent OF their gross receipts, only such
real estate ana the buildings ana struy-
lures thereon, rights OF way, maCuIn-
cry, tools ana implements as are nee
essary to the operation OF any canal
snail be included III and covered by this
tax on gross receipts All other real
estate and personal property of tut
owner OF any canal shall De locally as
sessed and taxed.
5. All sugar rehnericS, rice mills,
cotton seed oil mills, cotton seed OIL
Tehnerles ana retnerlcs OF petroleum
and its products snail be assessed Oh
the lar market valuation.
J. Jntl otherwise provided by The
General Assem- bly, by vote of two
thirds of the members elected To each
house, all operating mines Of suIPuUT,
salt or other minerals, all oil or Eas
wells. all stone QuarrIeS, sand, gravel
ana shell pits shall be taxed upon Il
percentage OF the gross value of the
product at the mouth OF the mine, we'll,
quarry or pit. This percentage snail
not exceed tive per cent FOR sulphur,
three per cent for salt, TWO and one
nall per cent for oil and SaS, and Two
per cent for rock and other minerals.
inclusive Of gravel, sand and shells.
/ MS tax shall not apply 10 the product
OF any mines. quaTrleS or pits or OIL OF
gas wells, where the owner, other than
public service corporations, uses the
same Tor his personal purposes ana
does not sell the same or its products
or manufacture the same into another
product for sale. Where gravel. sand
or shells are taken from the beds OF
public waters. or from shores not sub
JeCt TO private ownership, the General
Assent bly, may levy special taxes pei
cubic yard of material taken out and
may levy a different special tax tuT
each of said objects of taxation. The
Government of the United States foI
any purposes, and contractors engaged
in the construction of any public work
Tor the State or for the United States
solely for the purposes of such public
work are authorized to take free from
taxation gravel, shell or sand from
the beds of public waters and the public
shores of the State. Every citizen OF
the State shall have a similar right 10
take such materials for his own per-
sonal use free from taXation,( unless
they are taken for sale. All real and
personal property of the owners OF
suCh mines, wells. quarries and pits
except machinery, tools and imple-
ments absolutely essential to the op-
GRAFTON of any mine, oil or gas well,
stone quarry, sand, gravel or shell pit
while in the hands of the producer,
shall be locally assessed and taxed
10. All real and personal property
reserved for local taxation shall be as
seSsed at such percentage not to eX-
coed 100 per cent of its fair market
value as each local governing author
ity may establish, and lower percent
age may be established for personal
than for real property or for the val
ueS OF improvements than for land
values.
IL. In all assessments of real prop
erty whether for local or for State pur-
poses, the value of the land shall be
assessed separately from the value OF
the improvements; but railroad, pipe
held in fee or under easement, may be
assessed separately from, or together
with, the improvements thereon as the
Tax Commission may deem most prac-
ticable.
II. Assessments shall be arranged
geographically as far as possible either
upon the roll or upon separate records
laws providing for the printing and
publication in pamphlet form of the
records, showing such geographically
arranged assessments, and for the sale
of such pamphlets at small price.
IL. Every taxpayer shall have the
right of testing the correctness of his
assessment in the Courts within such
time as the General Assembly may pre-
scribe; and no property shall be as
centage of it's fair market value, as
prescribed by the governing authority.
IA. State licenses and special State
taxes shall be due and payable at such
time as the General Assembly may pre-
scribe.