Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1917-07-26
How Shall Property Be Valued for Taxa
tionl

The above is live question. The
only correct answer is: According to
law. Many officers, however, do not
know what the law ia; therefore, how
can the citizen he blamed for not
knowing the law?
The State Tax Commission, for
handy reference, has made terse alb
stract Of the law on the one point Of
valuation" Here is that abstract.
II contains all the law there is on the
subject in the Missouri statutes. The
sections are cited serially, and are as
follows:
Sec. 1874 requires assessor to take
oath that he will 'assAss all property
at what he believes to be its actual
cash value"
Sec. 1l34s requires the person list
ing property to make "a true and
correct statement of his property and
its cash value"
Sec. 1851 provides form of oath
made by person assessed to be "trne
and correct in his statement OF all
property and its value.
Sec. 1854 provides for the county
board of equalization ascertaining the
true amount and value Of all property
on each list, and If list made be found
false "such person shall be required
to pay treble the amount OF taxes"
sscertained to be chargeable, and the
maker OF any false list is liable to
punishment for perjury.
Sec. 1857 provides that bank prop
erty ''shall be valued and assessed as
other property at it's true value in
money"
Sec. 1853 provides that owners OF
building and loan association stock
"shall give just and true list OF the
same to the assessor with the actual
cash value OF each share on the first
day Of June in each year"
Sec. 1884 provides that "the asses
sor shall value and assess all the prop
erty on his books according to its true
value in money at the time Of the as
sessment." Again, in the came SEQ
tion, is repeated the assessors duty to
"vslue property at the cash price Of
such property OF the time and place
Of listing the same for taxation"
Sec. 1892 provides that when the
assessor has completed his book he
shall verify 1t by affidavit stating that
the book "contains all the taxable
property correctly set forth In the
manner and OF the value stated there.
in according to the mode required by
law"
Sec. 114o3 in setting forth the duties
ofths county board Of equalization,
after requiring that the members
shall take On oath to "iairly and i'm
partially equalize the valuation OF oil
taxable property" enjoins them to re-
quire that each tract Of land shall be
entered on tho tax book at Its true
value"
Sec. 1l404 In fixing definite rules for
the county board Of equalization to
observe says, "first, they shall raise
the valuation Of all property returned
below its real Va lue, according to the
rule prescribed by law for valuation;
second, they shall reduce the valus'
tlon Of property returned above III
true value"
Sec. 1l4l2 In giving the duties OF the
state board Of equalization requires
''such per csntum added to the valua.
tion Of property valued below Ito real
value ~ will increase II to its true
value; snd such per centum deducted
from valuations returned above real
value in money as will reduce inc
same to IT. true value"
4 Sec. 2ooi the State Tax Commission
ACT makes assessment oI property IN