The daily star-mirror. (Moscow, Idaho) 1911-1939, 1912-01-16

wise one and that only in isolated in
stances will there be such changes in
value during any four years of the
future as to work hardship on either
a vital matter, however, and changes
if deemed necessary can be made with
out impairing the efficiency of the bill
in it's entirety
Assessment of Banks.
Section II of the proposed revenue
law provides the method of assessing
banks by adding undivided profits and
surplus to the par value Of the shares
and deducting the assessed value of
the real estate belonging to the bank
The present method of permitting the
deduction of debts owed is abolished
and no fairer way can be found for
assessing this class of property A
has heretofore been exempt practically
from payment of taxes by reason of
the present law authorizing the stock
holders to offset obligations due by
Delinquent Taxes.
Title 10 of the main bill, sections
12S to 1854 inclusive, treats of the i'm
portant subject of delinquent taxes
and provides an entirely new method
nj 10 Ind
present system our citizens are in con-
tinual danger of losing their property.
Through inadvertence and care1essness
in the payment of their taxes and many
year of peculiar hardship and clearly
proving that a reform should be had.
The main danger under our present
system is due to the fact that the
purchaser of the tax title can obtain
deed in three years to the property in
issue without notice to the real own
er. This is remedied in the bill by
providing for foreclosure proceedings
in a court, and this compels summons
to be issued and notice given and the
usual time for redemption after judg-
ment and execution. I commend the
system as being a happy solution of
the present difficulties growing out of
the loose methods now prevailing.
Taxes Payable Half Yearly.
An innovation has been made by the
provisions of section 1872 of the main
bill in that taxes are to be payable |
twice year. l believe this wise and |
reform and that it should |
itself to your favorable con-
and Washington contain similar pro-
visions and I understand have worked |
out well in their practical operation.
Exemptions.
Section ~ of the proposed revenue
aw treats of exemptions and is
worthy in it's new provisions of your
most careful consideration. The inn
)ortant changes are:
LIST. Exemption of improvements on
and actually occupied or used as
home by it's owner, in the sum of
$500.
l believe the principle involved is
the welfare of the state re-
luires as many home owners as posi-
de. Our poorer citizens should be en-
outraged to build and own their homes.
Nothing can facilitate this in greater
legree than proper exemption from
axation of such homes. The amount
# the exemption cuts but small figure
n comparison with the principle in
'olved. The correctness of that pr1n-
iple 1 strongly urge upon you; the
mount exempted should be finally de-
after full and careful con-
liberation. .
I'd. The household furniture, mus ,
cal instruments and jewelry in actual
Sc is exempted ;
These are proper subjects for ex- {
mption in my judgment as no income /
an be had from them, they are not I
nd their exemption will mean in many t
asses the acquisition of comforts and !,
that would not be indulg- q
d in if their ownership and use was &
ccompanied by the payment of taxes t
n their value. a
Sd. Besides growing crops, fruit and t
ut bearing trees are exempt for four Q
ears from the time of their planting i
| orchard form and grape vines for
Tree years after planted as vineyards. a
These l believe are proper subjects a
exemption. While the value of such C
improvements soon exceeds the value
the lands upon which planted, it v
ust be rendered that no income is v
from the orchard or vine p
ard during the time for which eX
nDtod and an OnerOuS burden of taxa a