The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1916-03-28

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Property Converted Into T. S. Bonds
Taxable property cannot be convert
ed into United States bonds and there
by escape taxation. If moneys, credits
or other effects have been invested in
bonds of the United States within the
year, the amount so invested should
nevertheless be returned for the pro-
portionate time the same was held be-
fore such investment; to illustrate: If
$4,000 returned for taxation in 1915
was held months and then invested
in United States bonds, the return for
1916 should be for one.half of the
amount or for $4,000.
Listing Property
Listing Day-All property except
that of banks and public utilities is to
be listed as of the day preceding the
second Monday of April.
Listing by Administrator, Guardian,
Etc.-Property in possession or con-
troll of a person, as parent, guardian,
trustee, executor, administrator, receiv.
er, accounting officer, factor or agent,
must be listed separately in the name
of such parent, guardian, ETC., in each
instance giving the name Of the estate
or person for whom he is acting.
Property of Wife-The property of a
wife is separate and apart from that
Of her husband and should be so listed.
Oath-Each person listing property
is required to take and subscribe an
oath that the statement which he
makes Is true. The assessor is required
to actually administer the oath in ev-
cry case, and persons claiming to have
no property in excess of 100000 are re-
quired to take and subscribe an oath
to that effect.
Refusal to List or Swear-Where
persons refuse to list, or listing, re-
fuse to be sworn, the assessor must re-
turn the property himself at it's true
value and indicate on the return the
refusal to list or refusal to be sworn.
The county auditor is then required to
add so per cent. to the value so re-
turned by the assessor.
New Buildings and improvements
Any new building or structure con-
structed or begun since listing day last
year, and all such buildings or struc-
lures which were in process of con-
truction last year and were not as
sessed at their full value in money,
must be reported to the assessor.
Buildings estroyed-Buildings des-
troyed must be reported to the asses
sor or no deduction can be allowed.
Pawnbrokers-All property held in
pawn as security for money or other
thing advanced to the pawner, must
be listed by the pawnbroker at the
true value thereof on the day pre-
ceding the second Monday of April
All Questions Must Be Answered.
Each question in the blank forms for
listing personal property must be an
swered fully and accurately, and each
item therein must be filled out. Where
the word None" truly and completely
states the fact respecting any item or
question In such blank forms, it may
be given as the answer thereto.
Rules For Valulng Personal Property
All personal property must be listed
at its true value in money.
Merchants Stocts-Stocks of mer-
chandise are to be listed at their aver
age monthly value. To the stock on
hand April l of the previous year add
the purchases for the month and de-
duct the sales for the same time, less
the gross profit thereon; the balance
will represent the amount of goods on
hand May |. The monthly average
will be obtained by continuing this
process to April l of the current year
and dividing the aggregate of the
monthly invoice thus obtained, by the
number of months in the year in
which the person, firm or company
has been engaged in such business,
Manufacturers Stocks - Manufac,
turers must return under item 12;
(a) The average value OF all raw
materials on hand during the year end
ing April /,
(b) The average value or materials
in process of manufacture for the same
period
(c) The average value Of finished
products for the same period
The monthly averages Of items a, b
and are to be obtained by dividing
the aggregate of the amounts of each
of such items on hand at the end OF
each month of the past year by the
number OF months in the year in which
the person, firm or company has been
engaged In such business.
(D Tools and machinery not as
sessed as part of the real estate.
Assessors to Fix Nalues-rhe as
sor is not bound to accept the value
placed by the property owner upon his