CHAPTER 3.

ASSESSMENT OF PROPERTY.

2506. Cash value. Land and improvements separately. All taxable property must be assessed at its full cash value. Land and the improvements

thereon must be separately assessed. ['96, p. 426.

Property to be assessed according to its value in money, Con. art. 13, sec. 2.

2507. Bank stock. Verified statement. The stockholders in every bank or banking association organized under the authority of this state or of the United States, must be assessed and taxed on the value of their shares of stock therein, in the county, town, city, or district where such bank or banking association is located, and not elsewhere, whether such stockholders reside in such place or not. To aid the assessor in determining the value of such shares of stock, the cashier or other accounting officer of every such bank must furnish a verified statement to the assessor showing the amount and number of shares of the capital stock of each bank, the amount of its surplus or reserve fund or undivided profits, the amount of investments in real estate, which real estate must be assessed to said bank and taxed as other real estate, and the names and places of residence of its stockholders, together with the number of shares held by each. ['96, p. 426.

In the absence of express permission of congress, neither a national bank, nor U. S. bonds, constituting any part of its capital stock, can be taxed by authority of a state. Nor can a state tax a national bank which is the financial agent or public depository of the federal government. But a tax on the capital of such a bank is not the same as a tax on

the shares of which the capital is composed; and there is no provision of law which precludes the territorial legislature from taxing the banking franchise by taxing the individual shares of stockholders in national banks. S. L. C. Nat. Bank v. Golding, 2 U. 1.

2508. Id. Deductions. In the assessment of the shares of stock mentioned in the next preceding section, each stockholder must be allowed all the deductions and exemptions allowed by law in assessing the value of other taxable personal property owned by individual citizens of this state, and the assessment and taxation must not be at a greater rate than is made or assessed upon other moneyed capital in the hands of individual citizens of this state. ['96, p. 426.

2509. Id. In making such assessment, there must also be deducted from the value of such shares, such sum as is in the same proportion to such value as the assessed value of the real estate of such bank or banking association in which such shares are held, bears to the whole amount of the capital stock, surplus, reserve, and undivided profits of such bank or banking association. ['96, pp. 426-7.

Stock not to be taxed when property represented by such stock has been taxed, Con. art. 13, sec. 2.

2510. National banks not in Utah. The shares of the capital stock of banks organized under the laws of the United States, not located in this state, owned by residents of this state, are not subject to taxation. ['96, p. 427.

2511. Bank to pay tax on stock. Lien. All taxes levied under the provisions of this title upon the shares of stock of banking corporations or associations must be paid by the corporation or association and the amount of any such tax paid may be retained and deducted by the bank out of the dividends upon the stock or out of any other funds of the stockholder then or thereafter in its hands, and a paramount lien is hereby given to the bank against the stock upon which the tax is so paid to enforce the repayment or refunding of said tax; and no transfer or incumbrance of the said stock shall be made or permitted to be made by the bank, so long as the tax remains due and unpaid. [96, p. 427.

2512. Private bankers, brokers, and foreign banks. Statement. Every corporation doing a banking business in this state which is organized under the laws of another state or of any foreign country, and every private banker, broker, or dealer in stocks, must make out and deliver to the assessor, when

required to list personal property, a verified statement upon blanks furnished by the assessor, showing:

1. 2.

The amount of money on hand or in transit.

The amount of funds in the hands of other banks, brokers, or others,

subject to draft.

3.

The amount of checks or cash items, not included in either of the preceding items.

4. The amount of bills receivable, discounted, or purchased, and other credits due or to become due, and amounts receivable.

5. All other property appertaining to said business, other than real estate, which real estate must be listed and assessed as other real estate is listed and assessed under this title.

6. The aggregate amount of all deposits..

7. The amount of all accounts payable other than current deposit accounts. Such corporation, private banker, broker, or dealer in stocks shall be permitted to deduct from the credits the amount of his liabilities as provided in section twenty-five hundred and eighteen and the sixth subdivision of section twenty-five hundred and seventeen. The statement required in this section must be shown to be derived from the books of entry and account ordinarily in use in the business of the person furnishing the statement, and the amount shown therein must be an average of the corresponding amounts as shown by said books of entry and account for a period of ninety days next preceding the furnishing of such statement. The verification required must be made by the highest officer or employee in the county where the assessment is made, or by the banker, broker, or dealer in stocks in person. ['96, pp. 427-8*.

2513. Railroads, etc., operating in more than one county. Other Anunded franchises. All property and franchises owned by railroad, street railroad, car, telegraph, and telephone companies operating in more than one county in this state, must be assessed by the state board of equalization as hereinafter provided. Other franchises, if granted by the authorities of a county or city, must be assessed

chap.68

1899 in the county or city within which they were granted; if granted by any other authority, they must be assessed in the county in which the corporations, firms, or persons owning or holding them have their principal place of business. ['96, p. 428*.

Duties of state board of equalization, Con. art. 13, sec. 11; ?? 2559, 2565. Similar provisions, 2536. Assessment of capital stock and franchises, 2530.

2514. Railway lands to be assessed by county assessor. road lands in this state not actually used as a roadbed or right of way, or for depot, yard, or other necessary railroad purposes, shall be assessed by the assessor of the county in which said lands are situated. ['97, p. 219.

2515. Property, when assessed. Land, how assessed. All taxable property must be assessed in the county, city, town, or district in which it is situated. Land must be assessed in parcels or subdivisions not exceeding six hundred and forty acres each, and tracts of land containing more than six hundred and forty acres which have been sectionized by the United States government, must be assessed by sections or fractions of sections. ['96, p. 428.

Property assessed where situated, ?? 2528, 2543.

DUTIES OF ASSESSOR.

2516. Property assessed as owned and valued first Monday in February. Mistakes. Mistakes. The assessor must before the first Monday of May in each year, ascertain the names of all taxable inhabitants and all property in his county, subject to taxation, except such as is required to be assessed by the state board of equalization, and must assess such property to the person by whom it was owned or claimed, or in whose possession or control it was at twelve o'clock m., of the first Monday of February, next preceding, and at its value on that date;

provided, that nothing herein shall be taken to prevent the assessor from assessing any personal property at any time before the first Monday in February in case he shall have cause to believe that the owner thereof is likely to avoid payment of the tax thereon by disposing of the property or by the removal thereof from the state. Credits must be assessed as provided in section twenty-five hundred and eighteen and subdivision six of section twenty-five hundred and seventeen. Νο mistake in the name of the owner or supposed owner of property renders the assessment thereof invalid. ['96, p. 428*.

Property brought into county after first Monday in May, 2558. Action of assessor if owner likely to dispose of property, etc., 2656.

2517. Assessor may require statement. Form. He may require from any person a statement under oath, setting forth specifically all the real and personal property owned by such person, or in his possession or under his control, at twelve o'clock m., on the first Monday of February. Such statement must be in writing, showing separately:

1. All property belonging to, claimed by, or in the possession or under the control or management of such person.

2. All property belonging to, claimed by, or in the possession or under the control or management of any firm of which such person is a member.

All property belonging to, or claimed by, or in the possession or under the control or management of any corporation of which such person is president, secretary, cashier, or managing agent.

4. The county in which such property is situated or in which it is liable to taxation, and, if liable to taxation in the county in which the statement was made, also the city, town, school district, road district, or other revenue districts in which it is situated.

5. A statement of all lands in parcels or subdivisions, not exceeding six hundred and forty acres each, and the sections and fractional sections of all tracts of land containing more than six hundred and forty acres, which have been sectionized by the United States government; improvements, and personal property, including all vessels, steamers, and other water craft, and all taxable state, county, city, or other municipal or public bonds, and the taxable bonds of any person, firm, or corporation, and the deposited money, gold dust, and other valuables, and the names of the persons with whom such deposits are made, and the places in which they may be found, all mortgages, deeds of trust, contracts, and other obligations by which a debt is secured, and the property affected thereby. 6. All solvent credits, secured or unsecured, due or owing to such person, or to any firm of which he is a member, or due or owing to any corporation of which he is president, secretary, cashier, or managing agent, deducting from the sum total of such credits only such debts, secured or unsecured, as may be owing by such person, firm, or corporation; provided, that mutual benefit building societies incorporated under the laws of this state or of the territory of Utah, shall be allowed to deduct from their taxable credits the amount due to the members (stockholders) of such societies. ['96, pp. 429-30*.

2518. What debts deductible from credits. In making up the amount of credits which any person is required to list he will be entitled to deduct from the gross amount of such credits the amount of all bona fide debts owing by him, but no acknowledgment of indebtedness not founded on actual consideration, and no such acknowledgment made for the purpose of being so deducted, must be considered a debt within the intent of this section; and no person is entitled to a deduction on account of an obligation of any kind given to an insurance company for the premium of insurance, nor on account of any unpaid subscription to any institution or society, nor on account of a subscription to, or instalment payable on, the capital stock of any company or corporation; and no liability of any person or persons, company or corporation, as surety for another must be deducted; and no other liability of any person or persons, com

pany, or corporation, on any bond or undertaking must be deducted; and no deduction must be made in any case unless the party claiming such deduction discloses to the assessor, under oath, the name or names of the persons to whom such party is indebted, and the amount of such indebtedness to each, and also that such indebtedness is not barred by the statute of limitations, or, in case such indebtedness is so barred, acknowledges such indebtedness in writing, duly subscribed. No debt is to be deducted unless the statement shows the amount of such debt, as stated under oath in the aggregate. Whenever one member of a firm or one of the proper officers of a corporation has made a statement showing the property of the firm or corporation, another member of the firm or another officer need not include such property in the statement made by him; but this statement must show the name of the person or officer who made the statement in which such property is included. The fact that such statement is not required, or that a person has not made such statement under oath, or otherwise, does not relieve the property from taxation. ['96, pp. 425-6, 430.

A deduction of debts from credits may be authorized, Con. art. 13, sec. 3.

2519. Blank statements, how furnished to assessor. The state board of equalization must furnish the assessor of each county with blank forms of statements provided for in section twenty-five hundred and seventeen, affixing thereto an affidavit, which must be substantially as follows: “I,do swear that I am a resident of the county of and that my postoffice address is ; that the above list contains a full and correct statement of all property subject to taxation, which I, or any firm of which I am a member, or any corporation, association, or company of which I am president, cashier, secretary, or managing agent, owned, claimed, possessed, or controlled, at twelve o'clock m., on the first Monday of February last, and which is not already assessed this year; and that I have not in any manner whatsoever transferred, or disposed of any property, or placed any property out of said county or out of my possession for the purpose of avoiding any assessment upon the same, or of making this statement; and that the debts therein stated as owing by me are justly due and owing to others.'' The affidavit to the statement on behalf of the firm or corporation must state the principal place of business of the firm or corporation, and in other respects must conform substantially to the preceding form. The time when taxes become delinquent, and the time of the meeting of the county board of equalization must be stated in such form. ['96, p. 430*.

2520. Id. To taxpayer. Return. Corrections. The blank form of statement must be furnished to the taxpayer by mail, or left at his residence or usual place of business, or may be delivered to him personally. The assessor may fill out the statement at the time he presents it, or he may require the taxpayer, within an appointed time not less than twenty days to return the same to him, properly filled out. The assessor must, either in person or by mail, deliver to the person making the statement a copy of the same, if corrections are made, showing such corrections. ['96, p. 431.

2521. Assessor may require affidavit. Every assessor has power:

Witnesses.

Penalty.

1. To require any person found within such assessor's county to make and subscribe an affidavit respecting his property, giving his name and place of residence, and postoffice address.

2. To subpoena and examine any person in relation to any statement furnished by him, or which discloses property which is assessable in the county; and he may exercise this power in any county where the person whom he desires to examine may be found, but has no power to require such person to appear before him in any other county than that in which the subpoena is served. Every person who wilfully refuses to furnish the statement herein before required, or to make and subscribe such affidavit respecting his name and place of residence, or to appear and testify when requested so to do by the assessor, as above provided, for

each and every refusal, and as often as the same is repeated shall forfeit to the county the sum of one hundred dollars, to be recovered by action brought in the name of the assessor in a justice's court. In case such affidavit shows the residence of the person making the same to be in any county other than that in which it is taken, or the statement discloses property in any county other than that in which it is made, the assessor must file the affidavit or statement in his office, and transmit a copy of the same, certified by him, to the assessor of the county in which such residence or property is therein shown to be. All money recovered by any assessor under the provisions of this section must by him be paid into the treasury of his county. ['96, p. 431*.

2522. Refusal to make statement. If any person, after demand made by the assessor, neglects or refuses to give, under oath, the statement herein provided for, or to comply with the other requirements of this title, the assessor must note the refusal on the assessment book opposite his name, and must make an estimate of the value of the property of such person, and the value so fixed by the assessor shall not be reduced by the board of county commissioners. ['96, pp. 431-2.

2523. Absent owner. Estimate. If the owner or claimant of any property not listed by any other person, is absent or unknown, the assessor must make an estimate of the value of such property. ['96, p. 432.

2524. Id. Where known. Where unknown. If the name of the absent owner is known to the assessor, or if it appears of record in the office of the county recorder where the property is situated, the property must be assessed to such name. If unknown to the assessor, and if it does not appear of record as aforesaid, the property must be assessed to "unknown owners. ['96, p. 432*.

Cal. Sup. 1893, p. 249, 23636.

2525. Statement of property in other counties. The assessor, as soon as he receives a statement of any taxable property situated in another county, must maké a copy of such statement for each county in which the same is situated, and transmit the same, by mail, to the assessor of the proper county, who must assess the same as other taxable property therein. ['96, p. 432.

2526. Goods consigned. All personal property consigned for sale to any person within this state from any place out of the state must be assessed as any other property. ['96, p. 432.

2527. Person assessed as agent, etc. When a person is assessed as agent, trustee, bailee, guardian, executor, or administrator, his representative designation must be added to his name and the assessment entered on a separate line from his individual assessment. ['96, p. 432.

Property in litigation, 2543.

2528. Firm or corporate property, where assessed. The property of every firm and corporation must be assessed in the county where the property is situated, and must be assessed in the name of the firm or corporation. ['96, p. 432.

Property assessed where situated, ?? 2515, 2532.

2529. Decedents' estates. The undistributed or unpartitioned property of deceased persons may be assessed to their heirs, guardians, executors, or administrators, or any one of them, and the payment of taxes made by either binds all the parties in interest for their equal proportion. ['96, p. 432. Tax on estates must be ordered paid, ?? 2613, 3956.

2530. Corporate franchise and stock, where assessed. The capital stock and franchises of corporations and persons, except as may be otherwise provided, must be listed and taxed in the county, city, town, or district where the principal office or place of business of such corporation or person is located; if there be no principal office or place of business in the state, then at the place