| Show COUNTY valuations county assessor lynch has about completed his bis assess assessment meni work for the year 1896 the only precinct that has not noi been visited in ig alto alia where mr lynch says saya there la 18 still etall fifteen foet feet ol of snow however be will go up there here within a few days day and complete this portion of bis big work so ao as to close his books by june 1 asked by agnews a man as to what was the estimated valuation of the property of this county for the present year mr lynch replied abut 46 which will be an advance ol of over that of last year the increase is due principally to the taxa tion of mortgages mortgagee 9 then of course 00 said the newspaper man the public revenue will be in excess of what it was last year not at all or at least very little II 11 but how do you reconcile that statement with the one previously made that while the valuation will be several millions more than last year the revenue will be practically the same well I 1 mean that this mortgage taxation will not furnish the results expected land mortgages are being criven into the banks out of sight and placed and handled so as to be beyond the reach of taxation only the other day I 1 went into a bank in the line of business busi I 1 was received very cour and was politely and pleasant ly told I 1 was at perfect liberty to examine their mortgage records which 1 did and found that more than bad been transferred to a single london family who being foreigners are ex exempt the law is in a bad oue I 1 dont mean that this class of property should not be taxed but I 1 du do mean that hat the law falls far short or of what was intended anti ana that it to is U unjust 1 just in its operations As an illustration we hold bad the same kind of a law in force in ID 1890 91 during the first of those years less ionia than of mortgage money ws WAB collected it was not dot enough to pay the expenses incurred in collection only an a rule did the tbt poor people those hose holding small mortgages comply with the law the alc evaded it and it will be so again agaid 11 II the particular section under which the county assessors are guided in their mortgage assessment work is found in I 1 he revenue law passed by the state legislature it reads read as follows fol lowe to assist the assessor asae saor in the performance of his duties the county recorder must annually transmit to the assessor on or before the first monday in march a complete abstract of all mortgages deeds of trust contracts and other obligations bychich any debt is secured remaining unsatisfied on the records of his ofilia not barred by the statute of limitations limitation wat at 12 noon on the first monday la 10 march of said year such abstract mus be written under appropriate headd headings dr to embrace all information requisite wt or the assessor in a book or books to be furnished by the board of county booro missioners missi onera ners upon the requisition of tb the assessor if any such list be found to aft 1 7 tain any instrument relating to lands s sit bated in iii more than one county ic to is the duty of the assessor to transmit to ane 8 state board of equalization all inforM information OK relating thereto |
