Great Falls daily tribune., 1919-02-11
FIVE SISTER TAX BILLS GET THRU HOUSE

, 100 per cent of its true and full value.
covers the annual net proceeds OF all
mines.
Glass :, to be assessed at 20 per cent.
covers all household goods, personal
wearing apparel, agricultural and other
tools and implements. automobiles,
trucks and vehicles of all kinds, boats,
harness and saddlery
Glass s. to be assessed at % Is per
cent. takes in livestock. poultry, all agri-
cultural products and stocks of merchan-
disc. including furniture and fixtures.
Class 4. to be assessed at 80 per cent,
takes in land. city property and improve
ments, manufacturing and mining ma
chinerv.
Class 5. to be assessed at per cent,
takes in all moneys and credits. bonds
and warrants, not including capital en-
ployed in the banking business.
Glass 6. to be assessed at 40 per
cent. includes the shares Of stock Of
national banking associations and money
ed capital employed in conducting a
banking business by any other banking
corporation. association or individual,
such capital to be ascertained by deduct
! ing from all moneys and credits Of banks
| the amounts of deposits and indebtedness
representing money borrowed for use in
said banking business. and the value of
! shares of any natioal banking association
/ is to be determined by deducting the
value of all real estate of the associ
/ alton fThs latter clause was amended
| on motion Of Sharnikow, tn read "as-
sessed value Of all real estate,
| Glass Z, to be assessed at 40 per cent.
covers all property not included in the
/ six preceding classes.
4 Crouch sought to have personal wear
ing apparel stricken out. but Kelly in
1 formed him that the constitution pro-
vided that all property should be taxed
and that TO strike wearing apparel out
of this class, where it would be taxed
20 per cent, would merely subject il tn
40 per cent assessment under class 7
covering all other property.
Fails TO Amend.
Brandiord failed to get favorable
action upon an amendment changing the
percentage On moneys and credits from
seven to 10 per cent, while failure at
tended the efforts of McAfec 10 sub
stitute ID per cent for % per cent, as
the basis of assessment upon class >.
| live stock, agricultural products and
stocks of merchandise.
The effort to change the rate IN
money and credits hrot forth d state
ment by Kelly that under the present
system but little over S2.WN.0o0 has
| been returned in the entire state OF
Montana as money, whereas there is
Oh deposit III the banks about S115.oOO..
600. He said that in Lewis & Clark
county about the only money assessed as
such is that belonging to widows and
orphans in estates in process Of probate
that under the Helena taxes they have
to pay about 41s per cent On this
money. while it is drawing but per
cent in the banks. resulting in virtual
confiscation of part of the principal
Result of Two Years Study
In resisting an assault by Seharnikou
upon the classification Of lands and city
| property upon the grounds that it woult
result in loss of revenue because city
property was generally assessed at q
higher percentage than provided by the
| BILL Higgins said this bill was the result
cf two years work upon the part Of
| the commission. which had taken into
consideration the assessments of tbs
various cities and he held that this woult
Lot result in much of a change from
present revenues. He admitted that ir
Missoula some property was assessed al
\ 10 per cent Of its true value, but held
that much better property was listet
as low as 30 per cent. He held il would
get to some of the fine residences in
Missoula, Helena and Deer Lodge where
are now Persian rugs. fine paintings ana
furniture which are practically escaping