Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1923-06-07
Taxpayers Can Exempt
Land Recently Cleared
STATE TAX COMMISSION ISSUES
INSTRUCTIONS TO WISDOM
SIN ASSESSORS

The tax commission issued instruc-
tions to assessors of the state today
advising them that as a result of a
new state law enhanced land values
due to clearing of lands of stumps,
stones or growing timber should not
be considered. This law covers five
year period until January /, 1928.
"The law undoubtedly contemplates
that in the assessment of 1923, de-
duction should be made in assessing
all lands which have been cleared of
stumps, stones or growing timber dur
ing the three. years Immediately pre-
ceding the assessment season" the
commission statement said. 1.-THE de-
duction hall be equal to the difference
between what could ordinarily be OBJ
tanned for such lands at private sale
at the time of the assessment and in
the condition they are then in, and
what could have been obtained there
for on that date if the stumps, stones
or growing timber had not been re-
moved
"The privilege is limited to lands
used for agricultural purposes. Lands
used for any other purpose cannot
claim the exemption
"The exemption is not restricted to
so-called wild lands" although it will
have it's chief application to such
lands which have been cleared of
stumps, stones or growing timber with
in the preceding three years. Any
lands used for agricultural purposes,
which shall have had it's value enhans-
ed by the removal therefrom of stumps
stones or growing timber within the
three-year period, can undoubtedly
claim an exemption to the extent such
lands have been increased in value by
such removal.
'sThe rule is that exemption must
be strictly construed as against the
taxpayer Hence any increase in val
ne, by cultivating or otherwise subdu-
ing wild lands or other lands, is not
entitled to exemption. The exemption
is limited to the enhanced value due
to clearing only"
National and state banks in Wis
consin will be taxed this year the same
as previous years due to a recentsact
of cesagress and the assured pasSEge
of a bill meeting federal requirements
the tax commission says in a bulletin
of instructions to assessors issued to-
day.
"The uncertainty as to the right of
the state to tax national banks has
been practically removed by the act
of Congress of March 4, 1923, auth
orizing the states to tax national
banks either upon their shares of
stock or the income therefrom or
the dividends distributed to share
holders" the statement said. "As the
income tax in this and all other
states is merely supplemental to the/
property tax and produces less than
one-tenth of total revenue, the appli-
cation or that system TO banks would
produce a wholly inadequate tax. For
that reason it is not expected that
this method of taxation will be adopt
ed.
In view of this fact the state is
quite certain to continue to tax banks
stock on the property basis substan-
tally in the same manner as hereto
fore. The statutes authorize that
course except as to slight modifica-
lions required by the recent act of
congress and a bill is pending to meet
these requirements.
This will allow the taxation of
both state and national banks in the
same manner as heretofore, by taxing
their real estate in the same manner
and on the same basis as other real
estate in the assessment district and
by assessing their shares of stock,
according to their actual value to the
individual stockholders in the district
in which the bank is located"