State averages.

Capital stock of associations.

termine such rates of addition to or deduction from the listed or assessed valuation of each of said classes of property in each county, or to or from the aggregate assessed value of each of said classes in the state, as may be deemed by the board to be equitable and just-such rates being in all cases even and not fractional; and such rates, as finally determined by said board, shall not be combined.

Railroad pro

perty.

107. In equalizing the value of personal property between the several counties, said board shall cause to be obtained the state averages of the several kinds of enumerated property, from the aggregate footings of the number and value of each; and the value of the several kinds of enumerated property in each county shall be obtained at those average values; and the value of enumerated property thus obtained, as compared with the assessed value of such property in each county, shall be taken by said board to obtain a rate per cent. to be added to or deducted from the total assessed value of personal property in each county: Provided, that whenever in the opinion of the board it is necessary, to a more just and equitable equalization of personal property, that a rate per cent. be added to or deducted from the value thus obtained in any one or more of the counties, said board shall have the right so to do; but the rate per cent. herein before required shall first be obtained to form the basis upon which the equalization of personal property shall be made.

1

§ 108. The state board of equalization shall assess the capital stock of each company or association, respectively, now or hereafter incorporated under the laws of this state, in the manner herein before in this act provided. The respective assessments so made (other than of the capital stock of railroad and telegraph companies) shall be certified by the auditor, under direction of said board, to the county clerk of the respective counties in which such companies or associations are located, and said clerk shall extend the taxes for all purposes on the respective amounts so certified the same as may be levied on the other property in such towns, districts, villages or cities in which such companies or associations are located.

109. Said board shall also assess the railroad property denominated in this act as "railroad track" and "rolling stock ;" and said board is hereby given the power and authority, by committee or otherwise, to examine persons and papers. The amount so determined and assessed shall be certified by the auditor to the county clerks of the proper counties. The county clerk shall, in like manner, distribute the value, so certified to him by the auditor, to the county and to the several towns, districts, villages and cities in his county entitled to a proportionate value of such "railroad track" and "rolling stock." And said clerk shall

extend taxes against such values, the same as against other property in such towns, districts, villages and cities.

$110. The aggregate amount of capital stock of railroad Aggregate am't or telegraph companies assessed by said board shall be dis- distributed. tributed proportionately by said board to the several counties in like manner that the property of railroads denominated "railroad track" is distributed. The amount so determined shall be certified by the auditor to the county clerks of the proper counties. The county clerk shall, in like manner, distribute the value, so certified to him by the anditor, to the county and to the several towns, districts, villages and cities in his county entitled to a proportionate value of such capital stock. And said clerk shall extend taxes against such values the same as against other property in such towns, districts, villages and cities.

§ 111. Lands shall be equalized by adding to the aggre- Equalization of gate assessed value thereof, in every county in which said lands. board may believe the valuation to be too low, such rate per centum as will raise the same to its proper proportionate value, and by deducting from the aggregate assessed value thereof, in every county in which said board may believe. the valuation to be too high, such per centum as will reduce the same to its proper value. Town and city lots shall be equalized in the same manner herein provided for equalizing lands, and, at the option of said board, may be combined and equalized with lands.

§ 112. When said board shall have separately considered Classes of the several classes of property as herein before required, the lated. results shall be combined into one table, and the same shall be examined, compared and perfected, in such manner as said board shall deem best to accomplish a just equalization of assessments throughout the state, preserving, however, the principle of separate rates for each class of property.

$113. In all cases of partial return from any county Partial returns. where the number of defaulting towns or districts do not exceed one-third of the whole number of towns or districts in the county, the board of equalization may estimate the valuation in the towns or districts from which returns have not been received, and may equalize the total valuation as in other cases. In cases where the defaulting towns or districts exceed in number one-third of the whole number of towns or districts in the county, and in all cases of failure on the part of any county clerk to furnish the proper returns of the assessment of his county to the auditor prior to or during the meeting of the board of equalization, in each year, said board may, by order, authorize the auditor to equalize the assessment of such county when full returns have been received by him.

tify to auditor.

114. When said board shall have completed its equali- Board to cerzation of assessments, for any year, the chairman and secretary shall certify to the auditor the rates finally determined

be published,

by said board to be added to or deducted from the listed or assessed valuation of each class of property in the several counties, and also the amounts assessed by said board; and it shall be the duty of said auditor, under his seal of office, to report the action of the board to the several county clerks, immediately after the adjournment of said board. Proceedings o § 115. A report of the proceedings of said board of equalization shall be published annually, in pamphlet form, and five thousand copies thereof printed, of which number each member shall be entitled to fifty copies, the auditor to five hundred copies, and the remainder thereof shall be distributed by the secretary of state to the several counties, in the proportion usual in similar cases. Said distribution shall be made by mail or express, immediately upon the receipt of said report from the public printer, the cost of such distribution to be paid by the secretary of state out of the appropriation for incidental expenses.

Pay of members, allowance for stationery, ete.

Rates of taxa

tion.

§ 116. The secretary of state shall furnish such printing, fuel, lights and rooms as may be necessary for the transaction of the business of said board. Each member of said board shall receive for his services the sum of five dollars per day during its sessions, and ten cents per mile for each mile necessarily traveled in going to and returning from the seat of government, to be computed by the auditor of public accounts, and no other allowance or emolument, directly or indirectly, for any purpose whatever, except the sum of ten dollars per session to each member, which shall be in full for postage, stationery, newspapers, and all other incidentals and perquisites. The pay and mileage allowed to each member of said board, and the pay allowed to its secretary and employees shall be certified by the chairman of the board to the auditor of public accounts, who shall issue his warrants on the state treasurer therefor. Said board may employ one page, at two dollars per day; two secretaries, at five dollars per day each; and one janitor or doorkeeper, at three dollars per day. Two-thirds of the whole number of members shall constitute a quorum, and said board may adjourn from time to time until the business before it is disposed of.

RATES OF TAXATION.

§ 117. All rates for taxes, hereinafter provided for, shall be extended by the county clerk on the assessed valuation of property, as equalized and assessed by the state board of equalization.

For state pur

poses, rate per cent.

FOR STATE PURPOSES.

118. The governor, auditor and treasurer shall, annually, on the completion of the assessment and equaliza

tion of property, ascertain the rate per cent. required to produce the amount of taxes levied by the general assembly.

$119. There shall be annually assessed and collected, at the same time and in the same manner as other state taxes, such rate of tax on the equalized valuation of the property of this state, as is or may be provided by the laws concerning free schools, which tax shall be denominated the "State school tax," and the moneys arising therefrom be distributed in such manner as is or may be provided by the laws of this state concerning free schools; and no part of the fund raised by the aforesaid tax shall be diverted to or used for any other purpose than the support and maintenance of free schools in this state.

tax.

State school

per cent.

rates

120. The auditor shall, annually, compute and certify Auditor to to the county clerks such separate rates per cent. as will compute produce the net amounts of state taxes authorized to be levied

First-For revenue purposes, to be designated "Revenue fund."

Second-For interest purposes, to be designated "Interest

fund."

Third-For state school purposes, to be designated "State school fund."

Fourth-For such other taxes as may be required by law to be levied by him.

The "Interest fund" tax shall be levied so long only as the same may be necessary, and shall be applied to the payment of interest only.

FOR COUNTY PURPOSES.

121. The county board of the respective counties shall, For annually, at the September session, determine the amounts purposes. of all taxes to be raised for county purposes, the aggregate amount of which shall not exceed the rate of seventy-five cents on the one hundred dollars' valuation of property, except for payment of indebtedness existing at the adoption of the present state constitution, unless authorized by a vote of the people of the county. When for several purposes, the amount for each purpose shall be stated separately.

FOR ALL OTHER PURPOSES.

county

§ 122. The proper authorities of towns, townships, dis- For all other tricts, and incorporated cities, towns and villages, shall, an- purposes. nually, on or before the second Tuesday in August, certify to the county clerk the several amounts which they require to be raised by taxation.

Collectors'

books.

Congressional

ganized

ships.

town

COLLECTORS' BOOKS-EXTENDING RATES.

§ 123. The county clerk shall, annually, make out for the use of collectors, in books to be furnished by the county, correct lists of taxable property, as assessed and equalized. § 124. In counties not under township organization, such townships, or book shall be made up by congressional townships-but parts or fractional townships, less than full townships, may be added to full townships, at the discretion of the county board. In counties under township organization, said books shall be made to correspond with the organized townships. Separate books may be made for the collection of all taxes within the corporate limits of cities, towns and villages. This section shall not be construed to interfere with the tax book provided for in this act, for the use of county collectors, for collecting all taxes charged against railroad property and the capital stock of telegraph companies.

tors.

Books to be § 125. The respective county clerks shall cause the collec ruled for collectors' books to be properly ruled for the several classes of property, providing for each class three columns for valuesthe first to show the assessed valuation; the second to show the valuation as corrected and equalized by the county board; and the third, to show the valuation as equalized or assessed by the state board of equalization. Said books to contain proper columns for the extension of the several kinds of taxes, and other purposes.

$126. Said clerks shall extend the rates of addition or deduction ordered by the county board and state board of equalization, in the several columns provided for that purpose. The rates per cent. ordered by the state board of equalization shall be extended on the assessed valuation of property, as corrected and equalized by the county boardexcept, that in the case of railroad property denominated "railroad track" and "rolling stock," said rates shall be extended on the listed valuations of such designated property. In all cases of extension of valuations, where the equalized valuation shall happen to be fractional, the clerk shall reject all such fractions as may fall below fifty cents; fractions of fifty cents or more shall be extended as one dollar.

127. The said clerks shall estimate and determine the rate per cent. upon the valuation of property in the proper respective towns, townships, districts and incorporated cities, towns and villages in their counties, that will produce, within the proper divisions of such counties, not less than the net amount of the several sums that shall be required by the county board, or certified to them according to law.