Iron County news. [volume] (Hurley, Wis.) 1913-1950, 1923-06-02
CLEARED FARM LANDS EXEMPT
FROM TAXATION
Wisconsin Assessors Receive Instruc-
tions From State Tax Commits
sion Regarding Taxing
improvements

Madison-The tax commission
issued instructions to assessors of
the state today advising them that as
result of a new state law en-
HANGED land values due to clearing
of lands of stumps, stone or grow
ing timber should not be considered.
This law covers a five-year period
until January /, 1923.
The law undoubtedly eontem-
plates that in the assessment of 1928,
a deduction should be made in as
sessing all lands which have been
cleared of stumps, stones or grow
ing timber during the three years
Immediately preceding the assess
ment season." the commission state
ment said. "The deduction shall
be equal to the difference between
what could ordinarily be obtained
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
therefor on that date if the stumps,
stones or growing timber had not
been removed.
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 its chief application to
such lands which have been cleared
of stumps, stones or growing timber
within the preceding three years.
Any lands used for agricultural
purposes, which shall have had its
value enhanced by the removal
therefrom of stumps, stones or grow
ing timber within the three-year
period, can undoubtedly claim an ex-
emptiOn to the extent such lands
have been increased in value by
such removal.
"The rule is that exemption must
be strictly construed as against the
taxpayer. Hence, any increase in
value, by cultivating or otherwise
subduing wild lands or other lands,
is not entitled to exemption. The
exemption is limited to the enhanced
value due to clearing only"
Banks Taxation.
National and state banks in Wis
consin will be taxed this year the
same as previous years due to a re-
cent act of congress and the assured
passage of a bill meeting federal re-
quirements the tax commission says
in a bulletin Of instructions to as
SCISSORS issued today.
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,
authorizing 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. Gas
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 APP
plication of that system to banks
would produce a wholly inadequate
tax. For that reason it is not ex-
pected that this method Of taxation
win be adopted.
In view Of this fact the state is
quite certain to continue to tax bank
stock on the property basis substan-
TALLY in the same manner as hereto
fore. The statutes authorize that
course except as to slight modifica-
tions 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