The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1917-03-16

lation enacted by the Fifteenth as
sembly affects the tax commission
and the taxation system in force in
North Dakota.
Assessment Bank Stock.
Senate Bill 40 provides for the as
sessment of bank stock, amending the
compiled laws Of 1913 so as to bring
trust companies under the operation
of the law. The bill repeals
the provision allowing deduc-
ton of 5 per cent of the loans and
discounts and provides, that the as
sessed value of the stock shall be as
certained by adding together the cap
ital stock, surplus and undivided prof
it's, and deducting therefrom the net
investment in real estate; provided,
however, that such net investment in
real estate shall not exceed sum
equal to so per cent of the capital
stock, surplus and undivided profits
Of the bank.
The bill further provides that any
solvent bank by making a written re-
quest may have the assessment here
tofore levied against the individual
shareholder levied against the bank
in it's corporate name, and such taxes
paid by the bank as other expenses
of the bank are met. By this provi-
sion banks will be permitted to have
deduction of the amount Of their
taxes from their net income, whereas,
heretofore when the tax was paid by
the individual shareholder, no such
deduction accrued. The statement
heretofore furnished by, the bank
must now be made in duplicate, one
copy to be delivered to the county
auditor, and the other to the tax
commission. l,.' ,.,
Classification Property. ',. ~
Senate Bill 40 provides for the class.
ification of property for assessment
and fixes 4 percentage Of the full and
true value at which property shall be
assessed. Lands, railroad property
and bank stock constitutes Glass /
to be assessed at 80 per cent Of its
actual value;,livestock. machinery, au
tomobiles, stocks of merchandise, -four
mills, elevators, gas and electric light
plants constitute Glass 2, To 'be valued
and assessed at 30 per cent Of it's act
ual value; household goods, wearing
apparel, Improvements upon farm
lands and money and credits not 9th
erwise assessed constitute Class 3
and are to be assessed at 5 per cent
Of their full value.
Abatement Taxes.
Senate Bill 80 provides for the
abatement of taxes. Under the pres
ent law of the state and decisions OF
the supreme court, there is no way
of securing abatement of taxes after
the assessment has passed the local
board of review. This bill provides
that application may be made to the
board of county commissioners for an
abatement, whereupon, if it is favor
ably acted upon, it is ultimately GER
titled to the North Dakota tax com
mission, when, if the commission ap
proves, the abatement can be made
This alw will do away with many &C
tons continually brought by taxpay
ers where they have been unjustly as
sessed. The bill provides that the
tax may be abated in full or in part
tax may be abated in full or in part
as equity may justify it.
.-.-..;a Moneys and Credits. .M
The assessment of money and cred
it's at three mills on the dollar is pro
vided for in Senate Bill IS, which
Classics moneys and credits and fix
es a fiat rate thereon. The same law
is in effect in Minnesota, where it is
giving satisfaction Statistics show
that a larger amount Of revenue is Sc
cured from this class of property by
three-mi]l levy than where it is as
sessed under the general property tax
and i naddition, the revenue comes
from larger number of persons, and
is more uniformly administered
Duties Of Commission.
Additional powers and duties for
the tax commission are provided by
Senate Eill g. 1t is a combination of
the present North Dakota law with
many sections interviewer from the
Minnesota statutes. Some of the
leading features give the tax commits
sion power to appoint special asses.
sors in districts where, in the opinion
of the tax commission, assessments
have not been properly made, and pro-
vide for a reassessment of the dis.
tricts in whole or in part.