The circle banner. [volume] (Circle, Mont.) 1914-1939, 1918-12-13


/ the report, (which is always assessed
and taxed at 100 per cent. Mortgages
are taken in the names of non-residents
or transferred by them, because Of the
non-taxation Of holders of nonresident
holders Of mortgages.
The commission recommends and
presents bill for the establishment of
members, non-political in character,
who shall devote all their time to the
work. They shall assist the county
boards of equalization and the state
board of equalization; advise the coun-
ty assessors, direct proceedings, action
and prosecution to enforce laws relat-
ing to taxation and to direct county
flee any assessing or taxing officer for
failure to perform his duty. The COM
mission or one or more members are
required to visit each county in the
state during each year.
The commission is strongly of the
opinion all public utilities should be
assessed by a central body and not
ny dScCSSOlS liidt Tic dSStSSllcHt
should be apportioned to counties ON
a mileage basis and that all real es-
tate not included in the right of way,
buildings, improvements, dams and
power houses, depots, stations, shops,
and other buildings erected on the
right of way, shall be assessed by
assessors in various counties, as is
done now.
One of the most important recon-
mendations of the commission is the
one relating to the classification of
property. A bill has already been
drawn and approved by the attorney
general. The different classes and the
percentages to be applied are:
Glass Annual net proceeds of
mines and mining claims, after de-
Quoting only the expenses specified
and allowed by section 1866, 100 per
cent of true and full value.
Glass 2-All household goods, furni- |
ture, sewing machines, musical in |
struments and furniture, all agricul- |
tural tools and machinery, power
driven cars, vehicles of all kinds, |
boats and water craft, 20 per cent.
Glass 3-Livestock, poultry and all
agricultural products, stocks of mer-
chandise and all sorts, together with
furniture and fixtures, 80 per cent.
Glass 4--All land, town and city lots
with improvements, manufacturing
and mining machinery, fixtures and
30 per cent.
Glass 5-All moneys and credits Sc
cured and unsecured. including all
state, county, school district and other
bonds, warrants and secur-
ties, without any deduction or offset,
provided, however, that the terms,
moneys and credits shall not embrace
noneyed capital employed in the
business by any banking cor
)Oration, association or individual in
his state, 20 per cent of full value.
Glass 6-Shares of stock in national
'anking associations and moneyed
apital employed in conducting bank
ng business by any other banking cor
'oration, association or individual in
he state. Such moneyed capital to +
re ascertained by deduction from the
moneys and credits of such banking
orporation, association or individual
he amount of the deposits and any in
ebtedness representing money borrow
d for use in the business and the
alue of the shares Of any national
anking association to be ascertained
Y deducting the value of all real es-
ate of such association, 40 per cent.
Class 7-All property not included
l the six preceding classes, 40 per
emit of true and full value.
The commission says that it has at
,mpted in it's classification to follow
recedent in the so-called classified I
on of states, that the property which
reduces the smallest income should
ear the lowest tax rate.