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Show Iron County Assessed Valuation For 1943 Shows Slight Decrease Hillman Dalley, Iron County Assessor, As-sessor, announces that In spite of increased Industrial activity In this section the total asse sed valuation In Iron County Is lower this year than it wag In 1942. The reduction Is a result of a. decrease In public utility assessed valuations, Mr. Dalley Dal-ley states, particularly In the case of the Columbia Iron Mining Co. The total as essed valuation for the county for 1943 is (9.521,468, as compared with $9,723,301 in 1942, a decrease of (201,833. According Accord-ing to Mr. Dalley's report valuations set by the County Assessor this year, which Includes all property except publb utilities, was (4,530,858, while the valuation of public utilities util-ities Is (4,990,610, for the total of (9,521,408. In 1942 the Assessor's valuation was, (4,404,377. and the Public Utilities, (5,318,924, for a total of (9,723.301. Thua there Is a decrease In public pub-lic utilities values for 1943 over those of 1942 of (328,314, while there was an Increase of (126,418 on other oth-er property. The Columbia Iron Mining Co. valuation this year Is (327,371. as compared with (797,-503 (797,-503 last year. An explanation of the reduction In the company asses men t. by R. E. Hammond of the State Tax Commission Is given as follows: "There are three reasons for the reduction In assessed valuation of the mine based upon net proceeds this year: ' "(1) The first one has to do with the output of the mine. In 1941 there were 352,916 tons of ore mined. In 1942 there were 815,-820 815,-820 tons of ore mined. This Is a reduction of about 37,000 tons. . "(2) The deductions from gross yield " in "arriving at net proceed ,. during the calandar year 1941 was (131.279.00. The deductions covering cover-ing the production In 1943 amounted amount-ed to (242.102.00. This, you will observe, Is an increase of about (110 000.00 in the allowable deductions. deduc-tions. "(3) The last reason for the reduction re-duction in the assessed valuation is found In the value of the ore Itself. During the past few years we have held that the ore which was mined was worth (125 per ion The company has vigorously protested pro-tested this price and, I thelnk paid its taxes "Under protsrt". We had no certain way of determining Just what the ore was worth because be-cause It was sold to a subsidiary of the taxpayer. The price at which it was sold was materially lower than the price we had fixed, but In 1943 a material amount of ore was sold by the taxpayer to a com-petaltor, com-petaltor, the Colorado Fuel and Iron Company, for (1.00 per ton. Again, the company protested our Initial value of (1.25 per ton and we finally agreed to a basis of $1.00 prr ton, because this amount represented rep-resented an a:tual sale. "In the above flRures, the production pro-duction records and the deductions for the year 1941 are represented In the 1942 assesment and, similarly, simil-arly, the production records for 1942 and the costs incurred during that year are reflected In the 1943 valuations." |