Evening Republican, Volume 21, Number 30, Rensselaer, Jasper County, 13 February 1918 — TAX ASSESSORS RECEIVE ORDERS [ARTICLE]

TAX ASSESSORS RECEIVE ORDERS

SEVERAL CHANGES ARE NOTABLE IN THIS YEAR’S INSTRUCTIONS. Suggestions of concern to every taxpayer in Indiana, especially farmers, householders, corporations, automobile owners and building and loan association shareholders, are contained in instructions sent out yesterday by the state board of tax commissioners toaSjjfefcsing . officers, who ’will begin work all over the state March 1.

Uniformity all over the state is the slogan of the "tax board this year as never before. One of its first steps along this line was to prepare a schedule of assessment standards for automobiles. After consulting with automobile manufacturers, automoble insurance companies, assessing And owners and users of machines the boayd arrived at the conclusion that inexpensive machines deteriorate less in. early use and more in later use and that expensive machines deteriorate more in early use and less in- later use. Then it issued the schedule and placed in Class 1 cars costing less than $700; class 2, cars costing S7OO to SI,BOO, inclusive’; class 3, care costing more than SI,BOO. Classification of Value. The true value of the cars is arrived at as follows: Class 1 Ist year of use, 80 pct, of original cost. 2nd year of use, 60 pct. of original cost. 3rd year of use, 40 pct. or original cost. 4th year of use, 25 pct. of original cost. Sth year of use, 20 pct. of original cost. Class 2 let year of use, 75 pct. of original cost. 2nd year of use, 65 pct or original cost. 3rd year si use, 55 pct. of original cost. 4th year Of use, 40 pct. of original cost. sth year Of use, 25 pct. of original cost. Class 3 Ist year of use, 75 pct. of original cost. 2nd year of use, 70 pct. of original cost. 3rd year of use, 60 pct of crlglnaljaoat4th year of use, 50 pct. of original cost. sth year of use, 40 pct of original cost. The true values fixed in the above table are subject to the customary discount of 25 per cent for equalization purposes. Motorcycles are subject to the same rules for determinig value and to the same discount for equalization. The suggestions turn to the valuation of such staple products as wheat, corn, rye, oats and the like. On this subject the instructions state:

“There should be practical uniformity here, for the local market prices (what dealers are paying) on March 1, less 25 per cent for equalization, should be the absolute rule. Irregularities here will not be overlooked by this board, and unless corrected by boards of review may subject a whole county to a horizontal increase, the responsibility for which must rest upon the local assessing officers. The item of corn is an uncertain ong this year, owing to the condition of the crop, and will require special attention when it comes to determine value.” On assessing personal property of farmer and householder the board prepared cards to assist the assessor in arriving at a correct valuation of each principal farm implement and of each principal household furnishing. Thus the board seeks to discourage the common practice of “lumping off” the property. A popular idea about the taxability of shares in building and loan associations may be changed somewhat by. the following from the board’s instructions on the subject: “Shares in building-loan associations are taxable to t the owner*. Associations themselves are exempt from taxation, except on their real estate. Building-loan shares on which loans have been made are exempt from taxation, but other shares whether paid-up or running ( shares are taxable to the holder. Every person who puts money into a association of this kind is a stockholder, and his holdings should be listed according to the value of his investments.”

Stock in foreign and domestic corporations and the method to be employed.in assessing them and corporate property are dealt with as follows: “Attention is also called to shares of stock in foreign corporations, and domestic corporations conducting their business outside the state. All such stock is assessable to the holder. A foreign corporation is defined as one which takes out its charter in another state although it may conduct its business in this state. A domestic corporation is

defined as one which takes out its charter in Indiana but may conduct its business in another state. All stock in a foreign corporation is assessable to the holder of Same, regardless of where the company does business, but stock in a domestic corporation is not assessable to the holder, unless the company conducts its business outside the state.” In closing, the board fixed the ttane for the township assessors to report to county assessors with the following statement: , 1 < “Township assessors should report as usual to county . assessors the averages of certain classes of personal property on the following dates: March 9 and 23 and April 6. From a compilation of these reports the county assessors should report to ! the state tax board not later than March 15 and 29 and April 12.”