Evening Republican, Volume 15, Number 69, Rensselaer, Jasper County, 22 March 1911 — Tax Commissioners Board Holds gravel Road Bonds Taxable. [ARTICLE]

Tax Commissioners Board Holds gravel Road Bonds Taxable.

Indianapolis, March 21. —According to a decision of the state board of tax commissioners today all gravel road bonds authorized prior to March 4th this year, irrespective of what Interest they bear, are taxable, and all township and county assessors have been instructed by members of the board to list such bonds wherever found Following the passage of the Wells bill to exempt gravel road bonds from taxation, passed by the recent general assembly, the belief spread over the state that all gravel road bonds would be exempt from taxation. It is expected that a test case will be made of the Wells law under the aus pices of bond dealers who say that to tax these bonds would cripple the business.