Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1915-01-08

der the terms OF the proposed bill
VIII have broad powers. 1t will be
vested with the authority to raise or
lower valuations and assessments of
particular pieces OF property as well
as 10 equalze between classes of prop
erty and between property in differ
ent counties Hearings will be pro-
| Vlded for at which both the taxpay-
err aud the taxing authorities will have
| the right 10 state their case.
| The method Of selecting the mem
bers of the commission is likely To
| bring on the stiffcst fight that Will
arise over the adoption of the bill.
| Whether the commissioners shall be
appointed by the governor chosen by
the legislature or elected by the people
Is matter that is sure to cause a
hot argument. AS planned ut present.
they Will be appointed by the govern
or, but must be confirmed by tho
senate before they can hold office.
The provision that all property
must be taxed at its full cash value is
one of the most radical changes made
by the bill. owing to the fact that
values of real estate change very
slowly IN this state, II will probably
be provided that retaliation of this
in three or four years. Intangible per-
sonal property, such as stocks. bonds.
mortgages and notes will be taxed at
little more than a nominal rate. In
regard TO mortgages. there Is a strong
sentiment against any taxation at all
on this class of securities. it being
pointed out that as the land on which
the mortgage Is held pays its quota
of taxes. to tax the mortgage would be
in the nature of double taxation.
Taxation of Mines.
The bill will doubtless provide for
the classification of livestock each
year for taxation purposes; one. two
and three-year-old cattle, for instance,
being taxed at different rate.
A tax on mining property Is sure to
be laid but whether this will take the
form of an output tax or a tax on
gross or net income is one of the mat
tiers that is yet TO be determined.
There is strong chance, however.
that an output tax will be decided on
as the best means of reaching this
class of property.
All public utilities will be brought
under the control of the commission
Ii the bill becomes law. but II pres
ent plans are carried out there Will be
no attempt 10 separate sources OF
county and state revenue. as at one
time was contemplated
Will Not Play Politics.
The foregoing is q brief outline of
the essential features of the bill as
agreed upon by the leaders. Minor
changes may be made before the IN
PRODUCTION of the measure, but II will
not be materially altered The bin
will be introduced on the opening day,
according to present plans. and will
be pushed TO passage IT'S promptly as
possible.
The men who are hack of the bill |
declare that under no circumstances |
will they allow political considerations !
10 influence them in putting it through |
and assert that their only object is to /
give New Mexico the best possible sys- |
tenn of taxation which will he suita BILE /
to the needs OF all the people of the !
state In framing the proposed law
he tax systems Of practically every
state in the union have been studied
md the effort mas been made to se- I
ect the best features of the laws OF
he older states and to adapt them to
conditions existing in this state.