Salt Lake Telegram | 1931-05-12 | Page 11 | Valuation of Mines Shows Huge Decline

VAlUATION JALU Of MINES SHOWS HUGE Properties Assessed at 80 Million Dollars Under Figure for 1930 Predictions that the 1931 tax tax- value of Utah prop property would be 00 bethe bethe the lowest in years were realized realised Tuesday when th the state tA tax commission commission com corn mission announced its mine a assessment assess e s. s men ment at aboUt under the 1930 or this class of property 4 The 1930 total valuation of or the tho state was placed at Bythe By Bythe Bythe the time deductions arc are made because of lower assessments by county assessors and the value of ot banks Is wiped of off the general property property property prop prop- erty register the total assessment forthe for forthe forthe the state will b be about under the 1930 figure the ta tax commissioners com corn mL missioners loners estimate There arc are three items taken into consideration when mines mine are assessed as as- as the thc ed the value fe of or patented claims claim at 5 an acre the value of the Im Improvements Improvements Im- Im and machinery the tha value of the mine based upon three times tunes the net proceeds PROCEEDS SHOW snow DROP The value alue based upon net proceeds proceed for 1930 1030 was but only in 1931 The Improvements improvements improvements Improve improve- ments and machinery value held fairly steady at approximately 26 for each cach year car and the value of mining claims increased slightly In III 1931 to Salt Lake county showed ed the biggest big gest decrease In mining proceeds In 1930 the thc net proceeds for the mines In the county were but butIn butin butin in 1931 only Wasatch county dropped from to nothing in 1931 Tooele values were werD In 1930 only In lii 1931 Summit declined from to Juab values were In 1930 and only In 1931 Salt SnIt Lake county v valuations placed Continued on 00 Pare Pace a c Sixteen VAlUATION or OF MINES SHOWS HUGE DECliNE Continued from Pa Pare Pace e Eleven Ceren i ia ii 1930 at have hav drop dropped d dt t t tc with indications of or n n further drop of oC several millions rA l MAY Y BOOST LEVY There are nrc also aho Indications that th the state district school le levy lefor for the year yea ear will m be increased from 48 mills t to 5 52 2 mills Further increases ases in local levies will be necessary local loca officials make major cu cuts in n The commission is Ia still Ull working upon the assessment of public ties tes The value RIlle placed on these thee last las year was about It Itis Is iz not estimated that the variation Inthis in inthis this figure will materially change the grand crand total of the r ton The tax ta commission has add add- utilities to assess now row but additions made to the total tola R. R ascertained b by the tax commission will be reflected in corresponding decreases de de- de- de creases on county a assessors assessors' ors ors' reports While the tax commission h has made madeno no statement as to the probable worth of ot the utilities as M compared with last year financial statements flIed filed by these groups with the public pub pub- lie lic utilities commission indicate only minor changes in lu value