The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1923-04-04
EW TAX LAWS
SHIFT BURDEN
OF TAXATION
continued from rage ~

essors are required to list the
perty at full value, and the as
sment is reduced rs percent by
nty auditors after the state board
completed its equalization. The
law wil. Apply to the assessment
de in 1928
he five classes of property on
ich partial exemptions were re-
we'd were farm machinery, dwell
houses, wearing apparel, house
Il furniture and working tools OF
mechanic.
Money and Credits
'ut little change was made In the
concerning money and credits,
$ class of property remaining cx-
pt as heretofore with the single
.eption that moncycd capital
ich is so invested and used as to
ne into competition with capital
ested i'm the stock of national
lks is to be assessed and taxes up
the same basis as bank~ stock, he
tes. adding that it is difficult to
mulate any definite rule by
ich to determine whether money
capital is so used or invested
It it comes into competition with
business of national banks. The
DIVISIONS laid down in this section
re prompted by the federal laws
ating to taxation of national
nix stock.
Slight changes in the inheritance
law, an increase in the gasoline
< and removai of the kerosene tax,
peal Of the capital stock tax, the
W income tax law, law taxing
Al reserves and mineral reserves,
!, county budget law, limitation of
levies law, the law to prohibit
uance of warrants in excess OF
nds on hands, requiring bond sales
be advertised in all cases, rcduc-
N of the flat tax for hail insur-
&c purposes from three to one-cent
acre, change in the penalty on
al estate taxes, repeal of the seed
d feed bonding law, and affecting
situs of range stock for taxation
rposes.
Property Levy Lower
The state general property levy
ii be distinctly lower because of
income and other taxes, Mr..
inverse said.
"a new income tax law was sub
ituted for the law which has been
effect since 1919" he said. The
W law discontinues the exemption
income from real estate loans
ID from bank deposits in the hands
residents of this state. The new
W also abolishes the personal pro-
rty tax offset and discontinues the
stinction which has hitherto been
effect between earned and social
unearned income. 1t does not at
mpt to tax income from North Da-
TIA investments in the hands OF
,nresidents. AS this law does not
come effective until next year, de-
lied discussion of it is not neces-
ry at this time.
"Much additional revenue will bt
rived from income taxes paid by
dividuals under the new law. The
creased revenue derived from thu
come tax and from the oil tax viii
,ducc the amount of revenue TO
ate purposes which must be raiset
direct property taxation, and TIT
ate levy will be substantially low
:"
The tax limitation law, Mr.. Con
rise said, could not possibly have
cen made to apply to every condi
on existing in different parts o
ne state, and it was for this rea
on that provision was inserted
laking it possible to authorize
IVY up to 40 percent in excess o
ne limitations contained in the sta
ate by majority vote and 80 per
ant in excess by a two-thirds vote
he statute applies to levies TO
1923. The statute applies to vii
ages, cities, townships, counties ant
chool districts, he added, but no
park districts, and counties wcr
mited only as to the amount whicl
lay be levied for road and bridg
imposes, the limitation being 2 l.
hills.
THE theory upon which othe
ounty expenditures were not Unite
as that county commissioner
ossess virtually no discretion as t
,ost county expenditures other tina
hose for roads and bridges, "sai
Ir. Converse. "They have absolute
no control over the amount O
curt expense which must be me-
r the amount of mileage whic
lust be paid to shcriffs and count
uperintendcnts. They have had n
ontrol over the amount required t
ay mothers pensions, and there ar
,any other items of county expen
iture over which they have littl
r no control. The support of tn
insane is another illustration.
,as, therefore, thought that in plac
ng limitation upon levies for roa
nd bridge purposes, limitatio
,as being placed upon expenditure
or the chief purposes concernin
vhich the county commissioners
re by law vested with discretion
Praises Legislature
In praising the record of the LEI
Stature the tax commissioner said
Zone sometimes hears disparagin
comments concerning the ability {
Intelligence of legislators; but
yas the general observation of thos
yho desired to be fair in the
riticism that the recent session I
he legislature not only accomplish
d an astonishingly large amount {
york in the short space. Of six
avs, but that, upon the whole, Il
Members managed, in some way I
mother, to give to most Of the pr
bosed legislation careful consider
ion; and it may we'll be doubt,
yhether any other legislative boz
N our country can show an equal
reditable record of accomplishing