The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1919-11-20
BOND AND WHEELER
TALK ON TAXES
Delives Interesting Addresses Before
~ SRotary-BonA Says Csst q
As Building Doubles in Fear
.% &8 Years M %A @@

Walter Bond and H. E. Wheeler,
Ward County tax supervisor, were the
speakers at the Monday meeting Of
the Rotary Club. Mr.. Wheeler has
made an exhaustive study Of taxation
and he showed the cause forl the big
increase in taxes both in the city and
in the country.
Mr.. Bonds address follows, III
ma Real Estate and Taxes
Nearly every Rotarian at this. board
deals in real estate to some extent,
and comment by me, as. to ways of
handling properties, could be gone in
to at some length In fact, one agen-
cy Of which I am a member has is
sued book showing in, detail seven
ty-eight different plans whereby real
estate sales may be made,
/ am not going to infict these upon
you, but will say that the business
is interesting, and sometimes pays ex-
penses; new situations coming up each
week which cannot be handled by any
set rule or plan. ..a
During the past year, our City has
seen very healthy market, and many
people, who heretofore had been ten
ants, are now owners. Practically
all transfers of houses have been at
the old price, and at SO to 5000 less
than the same could be built for to-
day. The advance Of material Of all
kinds, and the increase in wages, will
bring the cost of a home in 1920 to
nearly double what it was in 1916.
Today, there al> more actual home
owners in our city than ever before.
This condition has been brought
about, principally, by the increase in
rents and the new exemption law
passed by the last legislature, which
allows $1,000 exemption on the value
Of improvements to owners who re-
Side therein, but which does not apply.
to owners of tenant property. The
increase, in taxes, brought about by
The new tax laws, further, makes
owners of tenant property anxious to
sell. VA
z Never in the history Of our State
Legislature were so many drastic tax
laws passed, as during the last ses-
sion, and one Of these new laws, which
is not generally undertood, is the
State Income Tax for the calendar
year, of 1919 and subsequent years.
This is patterned somewhat after the
Federal Law, and is Senate Bill, No.
81 providing for. a tax on incomes OF
all, persons, corporations, joint stock
companies, and associations in, the
State, being both for earned and IN.
earned income. ,S,I,, A. s..s4f,,se,,F Cd
EARNED TN INCOME, under this act,
means any, income received, as wages,
salary or fee for personal services,
and is assessed at one-fourth of Ia,
on the first $1,000 or fractional part
thereof. .and AN, increase, of one-fcurth
of 10 on each additional $1,000 up to
$4,000 ts. !. .irs s. s.l&!e
UNEARNED INCOME means the
income from rents Of land or property,
interest on mortgages, notes and
bonds, dividends on shares Of stock, or
interest in any business or industry
not personally conducted by the tax
payer.
EXEMPTIONS. The necessary ex.
penses actually paid in carrying on
any business or trade, not including
family expenses. All interest paid,
debts due the taxpayer and charged
off during the year. Taxes, paid with
in the year, imposed by the Federal
Government OF State, County or any
tax subdivision. Of any State, includ-
ing those assessed against local bene-
fits; also. all taxes paid under the
Moneys and Credits Tax and Capital
Stock Tax. 9g3a m