The Glasgow courier. [volume] (Glasgow, Mont.) 1913-current, 1919-03-07
new TAX COMMISSION
BILL CUTS VALUATION
MOST h EVOLUTIONARY MEASURE THAT HAS
BEEN + %ACTED BY EITHER A TERRITORIAL
OR STA4% LEGISLATURE; ACTUAL CASH
VALJ %NO LONGER IS BASIS FOR
EVY OF TAX

Valuation Of property for assess
ment purposes, under the terms of one
of the tax commission bills that went
into effect last Friday afternoon when
Governor Stewart approved it, will no
longer be based on full cash value.
Household goods, farm implements
and such goods will be assessed at
only 20 per cent of their full cash |
value; livestock, agricultural products,
stocks of merchandise and fixtures
will be assessed at one third their full
value; land, town and city lots with
improvements, at 80 per cent of their
full value; moneys and credits at seven
per cent of their full value; shares of
national banks and moneyed capital
of all banks at 40 per cent of their
value; net proceeds of mines 100 per
cent of their value.
The tax commission which framed
the law, basing it's assertion on study
of the classification system of other
states, believes millions of dollars
worth of property will be returned
for assessment that has escaped in
the past, because the inducement to
escape taxation is no longer as great
as it was under the old system when
property was supposed to be assessed
at full cash value.
The classification of property, to-
gether with the percentage to be taken
as basis for the imposition of taxes,
is as follows:
Class One-The annual net proceeds
of all mines and mining claims, after
deducting only the expenses specified
and allowed by 1865 of the Revised
Codes of Montana, 100 per cent of it's
true and full value.
Glass Two-All household goods and
furniture, including clocks, musical in
struments, sewing machines, wearing
apparel of members of the family and
all personal property actually used by
the owner for personal and domestic
purposes or for the furnishing of
equipment of the family residence;
all agricultural and other tools, imple-
ments and machinery, gas and other
engines and boilers, threshing ma
chimes and outfits used Herewith, au-
tomobiles, motor trucks and other pow
er driven cars, vehicles of all kinds,
boats and all water craft, harness,
saddlery and robes, 20 per cent of it's
true and full value.
Glass Three-Livestock, poultry and
all agricultural products; stocks of
merchandise of all sorts; together with
furniture and fixtures used Herewith,
33 1-3 per cent of it's true and full
value.
Glass Four-All land, town and city
lots, with improvements, manufactur-
ing and mining machinery, fixtures
and supplies, except as otherwise pro-
vided by the constitution of Montana,
80 per cent of it's true and full value
Glass Five.-All moneys and credits,
secured or unsecured, including all
state, county, school district and other
municipal bonds, warrants and secur-
tiles without any deduction or offset;
provided, however, that the terms,
moneys and credits as herein used
shall not embrace the moneyed capital
employed in the banking business by
any banking corporation, association
or individual in this state, seven per
cent of its true and full value.
Glass Six-The shares of stock of
national banking associations, and the
moneyed capital employed in conduct
ing banking business by any other
banking corporation, association or in
dividual, the amount of the deposits
and any Indebtedness representing
money borrowed for use in said busi-
ness, and the value of the shares of
any national banking association, to be
ascertained by deducting the value of
all real estate of such association, 40
per cent of it's true and full value.
Glass Seven-All property not in
cluded in the six preceding classes, 40
per cent Of its true and full value.
While this new law will have the
tendency to reduce the valuation con-
siderable in some counties, it will
change the assessed valuation of VAL
ley county but very little.
N-E,Uv cnI1NTy TREASIIPER