The herald., 1912-10-03

insurance, bonding or surety compa-
MES OF such other State or country, 50
long as suCh laws continue III fierce
the same obligations and prohibitions
OF Whatsoever Kind may be imposed by
me General Assembly OF tins State
upon insurance, bonding or surety com
pdnlCS OF SuCu other state or country
uOInS business III this State.
1" irrigation canals snail be taxed
ON Il percentage not 10 exceed Two pei
cent OF their gross receipts, only SuCu
real estate ana the buildings and SJruC-
lures thereon, rights of way, macnIn-
cry, tools ana implements as are nee
eSSdry 10 the operation of any canal
small DC included IN and covered by this
TAX on gross receipts. All other real
estate ana personal property Of The
owner OF any canal shall be locally as
sessed ana taxed.
5. All sugar refinerieS, rice mills.
cottoh seed OH mlIIs, cotton seed UII
LehAeIles anu reHnerIcS OF petroleum
ana ats products snail be assessed Oh
tne TAR market valuation.
>. OntI otherwise provided by the
General Assembly by Il vote OF Two
lAliuS OF the members elected 10 each
mouse, all operating mines OF sulphur
SAT- or other minerals, all oil or gas
wells, all stone quarrIes, sand, gravel
anu shell pits shall be taxed upon Il
percentage OF the gross value OF the
product at the mouth of the mine, well,
quarry or pit. THIS percentage shall
not exceed nVe per cent for sulphur,
nalI per cent for oil and gas, and two
per cent for rock and other minerals
inclusive of gravel, sand and shells.
ms tax shall not apply 10 the product
Oh any mines, quarrIeS or pits or oil OI
gas wells, where the owner other than
public service corporations, uses the
same for his personal purposes and
uoeS 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
pubic waters, or from shores not sub
Ject TO private ownership, the General
Assembly may levy special taxes pei
cubic yard OF material taken out and
may levy different special tax for
each OF said objects of taxation. The
Gov eminent of the United States fuI
IN the construction of any public work
Tor the State or for the United States
solely Tor 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 tC
take such materials for his own per-
sonal use free from taXation,( unless
they are taken for sale. All real ana
personal property of the owners oil
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 OF, shell pit,
anu SACSpl the themselves
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 a 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
line and canal rights of way, whether
held in fee or under easement, may be
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
ana the General Assembly shall pass
laws providing for the printing and
in pamphlet form of the
showing such geographically
arranged assessments, and for the sale
Of such pamphlets at a 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
SeSSed for sum in excess or the per-
,entage of its fair market value, as |
prescribed by the governing authority |
IA. State licenses and special State |
axes shall be due and payable at such |
lime as the General Assembly may pre- |
scribe.