The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1919-08-28
STATE MUST RAISE
S5,000,000 IN TAXES
Auditor Kositzky Has So Notified the
State Board of Equalization
Other Levies Are Needed.

Bismarck, N. d., Aug. 27.-NOrtn
Dakota must raise nearly $4,000, 900
by taxation to cover it's running ex-
penses, State Auditor Kositzky to-
day notified the state board of equal
ization.
This amount is in addition to the
cash balance on hand July l, 1919,
and to the fees which may be col
lected from miscellaneous sources
during the year.
For the general fund, Mr.. Kositzky
advised the board. North Dakota must
haye for the fiscal year $3,463, $685. 80.
In addition to this large sum, the
state must raise $521, ,304 to pay in
terest and sinking fund charges on
it's bonded indebtedness.
Several millions in state bonds is
sued for the Bank of North Dakota
and the mill and elevator association
will cost the state $350,O0O this year.
Interest and sinking fund charges on
it's bonded indebtedness. -,
Several millions in state bonds will
be $16,49O. The principal payments
on bonds maturing this year will be
$4,000, and $24,824 is allowed as a
margin in the interest and sinking
fund to provide for tax collections
which may not be made.
Last year the levy for the general
fund was $1,572, ,255.46; for interest
on state indebtedness, 500, 300; for
the state bond sinking fund. $78,6O0,
a total sum of 81 900, 0,155. .46.
This year the state must raise by
general taxation $2,294,833.99 more,
advises Mr. Kositzky.
Other Levies Are Needed.
There is question: whether an in
terest and sinking fund levy must
not be made to provide for the $10,-
100000 issue of real estate bonds pro-
vided for by the last assembly to
finance farm loan operations through
the Bank of North Dakota. If it is
found that the levy must be made, it
will mean $5O0,000 more in taxes, or
a total of $4,484,989.30 for the cur
rent year, as compared with $780,
1886 last year
If a 33 per cent increase over last
years assessed valuations is carried
out generally ,as the new tax laws
would seem to contemplate, North
Dakota will collect taxes on $1,2O0,.
100000 worth of property this year
A levy Of 3.5 mills on this assessed
valuation would produce $4,200,000 in
taxes, or enough to take care of the
general, interest and sinking funds
providing no levy for the $10,000,O0c
in real estate bonds is found neces-
sary. On top of this will come state
wide one-half mill levy for the sol
diers' bounties, which will add $780,
900 to the states tax bill, and which
would make the general state levy
about four mills.
Hail Insurance, Too.
In addition to these several levies
every acre of farm land in the stats
will pay into the hail insurance func
a fiat tax of three cents, expected tc
aggregate S75O,000 and approximately
35 cents per acre will be paid by own
ers of 7,500,OOO acres Of farm land.
which were not withdrawn from the
operations Of the hail insurance ac1
prior to June Is, which will mean 3
total of S3,375,0O0 more. ConlbineC
with other levies there is shown the
necessity Cor raising for various state
purposes, through special or genera
direct taxation Of approximately S9,
100000 for the current year.
Would Raise Valuations.
Tax Commissioner George e. Wal
lace seems inclined to insist on a still
further increase in the states assessed
valuation as a means of reducing thu
mill levy. The result Of increasing ths
assessed valuation and reducing thu
mill levy would be the same amount il
taxes paid, although by levying low