The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1918-02-11
UNIFORMITY new
SLOGAN OF TAX
BOARD OF. STATE
Every Taxpayer in Wayne
County Concerned in In
structions to Tax Assessors

owners and building and loan associa
ton shareholders. are contained in in
structions sent out yesterday by the
state board Of tax commissioners te
assessing officers, who will begin worl
all over the state March I.
Uniformity all over the state is the
slogan Of the tax board this year as
never before. One of its first steps
along this line was to prepare a seized
nle of assessment standards for auto
mobiles. After consulting with auto
mobile manufacturers. automobile in
surace companies. assessing Officers
and owners and users of machines the
board arrived at the conclusion that in
expensive machines deterioI ate less In
early use and more In later use and
that expensive machines deteriorate
more in early use and less In later
use. Then 1t issued the schedule and
placed in Glass / cars costing less
than 800; Glass 2. cars costing $500 to
$500. inclusive: Class 8, cars costing
more than $1,000.
Classification Of Values
The true value Of the cars Is arrived
at as follows:
First year OF use, 80 percent of or
iginal cost: Second year Of use. 60 per
cent. Of original cost; Third year OF
use, 40 percent of original cost;
Fourth year of use, 25 percent OF Or
iginal cost: Fifth year of use, 20 per
cent Of original cost.
Glass 2
First year Of use. IS percent. OF or.
iginal cost; second year OF use. % per
cent Of original cost; third year OF
use, IS per cent. of original cost;
fourth year Of use. 40 per cent OF or
iginal cost; fifth year OF use. 20 per
cent Of origina! cost.
Class 8
First year Of use. rs per cent. OF Or
iginal cost; second year OF use, ~ pes
cent OF original cost; third year OF
use, 50 per cent of original cost;
fourth year Of use. so per cent. OF or
iginal cost; fifth year Of use, 40 per
cent Of original cost.
The true values fixed in the above
table are subject to the customary dis
count of Is per cent. for equalization
purposes. Motorcycles are subject 10
the same rules for determining value
and to the same discount for equall'
cation
assessment Ov StopsSS'
The suggestions turn to the evalua'
ton of such staple products as wheat,
corn, rye, oats and the like. On this
subject the instructions state:
There should be practical uniform.
ity here. for the local market prices
(what dealers are paying) on March l,
less % per cent for equalization, should
be the absolute rule. Irregularities
here will not be overlooked by this
board, and unless corrected by boards
of review may subject whole county
to horizontal increase, the RESPONSE
bility for which must rest upon the
local assessing officers. The item OF
corn is an uncertain one this year,
owing to the condition of the crop, and
will require special attention when 1t
comes to determine value"
On assessing personal property OF
farmer and householder the board pre-
pared cards to assist the assessor In
arriving at correct valuation OF each
principal farm implement and Of each
principal household furnishing. Thus
the board seeks to discourage the COM
mon practice Of Jumping Off the
property.
A popular idea about the taxability
Of shares in building and loan associa.
lions may be changed somewhat by
the following from the boards instruct
ions on the subject:
Shares in buckingham associations
are taxable to the owners. Associa-
lions themselves are exempt from taxa.
ton. except on their real estate. Build
inc.loau shares on which loans have
been made are exempt from taxation.
but other shares whether paid,up or
running shares are taxable to the hold.
err. Every person who puts money into
an association o. this kind is stock
holder. and his holdings should be list
ed according to the value Of his invest.
ments."
Stock in Corporations.
Stock in foreign and domestic corp
oratious and the method to be en-
ployed in assessing them and corporate
property as dealt With as follows
Attention is also called to shares OF
stock in foreign corporations, and do
nestle corporations conducting their
business outside the state. All such
stock Is a5sessable TO the holder. A
foreign corporation is defined as one
which takes out its charter In another
state although it may conduct lis bdsi- |
ness in ths state. \ domestic corpora |
tlos is defined a one which takes out
its charter in Indiana but may conduct
It's business in another state. All stock
IL foreign corporation is assessaElc |
70 tho holder of the same. regardless !
~ whore the company does business,
but stock in domestic corporation is !
net assessable to the holder, unless |
,no company conducts its business out
side the state.
In closing, the board fixed the time |
for the township assessors to report to
county assessors with the following
statement:
Township assessors should report
as usual to county assessor the aver
age OF certain classes Of personal prop
erty on the following dates: March 9
and c3 and April 6. From compila-
ton Of these reports the county assess
,rs should report to the state tax board
not later than March Is and 20 and