NOV 3 0 1935 Mac Gregor Library (sub. for Worn Copy)

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HT 902

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LETTER OF TRANSMITTAL.

WISCONSIN STATE TAX COMMISSION,

MADISON, DECEMBER 10, 1902.

To the Honorable, the Governor,

and the Legislature of the State of Wisconsin:

In compliance with the provisions of Chapter 206, Laws of 1899, and Chapter 220, Laws of 1901, the Second Biennial Report of the Wisconsin State Tax Commission is respectfully submitted,

NORMAN S. GILSON,

GEO. CURTIS, JR.,

NILS P. HAUGEN.

TABLE OF CONTENTS.

Act creating the tax commission....

Summary of tax laws enacted by the legislature of 1901..

CHAPTER I.

ADMINISTRATIVE WORK OF THE Tax COMMISSION

Purpose of laws of 1899 and 1901.....

Meeting of county supervisors of assessment..

Assessor's desire to comply with the law..

Increased interest in assessments....

Success of the county supervisor plan.

CHAPTER II.

PAGE

1

2

5-8

5

6

7

8

8

Formula for ascertaining land values in counties.

Tables showing state board's assessments..

Tables showing assessments by local assessors

Portion of state tax borne by each county..

Land sales of 1900 and 1901 equal to 12 per cent. of all real es-

tate....

15

16

18

26

Increase in assessments from 1899 to 1902..

33

36

Number of children of school age in the state in 1962...

42

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vi

TABLE OF CONTENTS.

THE ONE-MILL TAX-continued.

School districts accumulating a surplus....

The university tax....

The normal school tax..

Danger in maintaining present mill tax.

A definite sum for school tax recommended.

Tables showing apportionment of school fund income,.

CHAPTER IV.

PAGE

42

42

42

43

44

44

Table showing rates and exemptions in different states...

Dr. Ely's advocacy of inheritance tax........

52-53

54

Table showing income from inheritance tax in various states.

Table showing income from inheritance tax in United States.

Probate fees in Wisconsin....

Decision of Wisconsin supreme court in Black v. State.

Table showing rates, exemptions and classification of persons

Chief provisions of proposed law discussed.....

Refund of taxes paid under unconstitutional act of 1899.

How amount of credits to be determined for assessment..

Efforts to secure better assessment of credits..

90

90-93

Part II. Statistics and Comment

93-114

Tables showing assessment of credits since 1888.

Reason for greatest increase in 1902.

95

104

Only a small portion yet reached..

106

Vast quantity impossible to ascertain

107

Difficulty of making exemption for debts ...

Credits on public records about only ones reached

Inequality between different portions of the state..

Tables showing discrepancies between sections..

Table comparing Milwaukee with other cities.

Milwaukee most uniform in assessing credits..

Part III. Fundamental Principles

Taxation of credits as property generally condemned.......

Primary propositions on which condemnation rests

107

108

108

109

112

113

114-140

114

115

Are credits property" in economic consideration?.

Above question discussed......

116

116-118

Injustice of taxing credits as property..

118

Shall the state continue to tax credits and allow deduc-

It is a question whether certain other stocks are exempt..

Law exempting certain stocks should be amended.....

Should apply to stocks in all corporations otherwise taxed...

145-149

145

146

147

147

148

149