All personal property in the possession or under the control and management of any person, corporation or company engaged in the intrastate transportation by water of goods or commodities of any sort or description shall in the event that said personal property is in transit have as its situs for purpose of taxation the residence of the owner thereof, and it is hereby made the duty of every such individual, company or corporation to file with the forwarding agent or warehouse proprietor for delivery to the assessor of his county, a copy of the bill of lading or manifest for all goods in transit or on board on the first Monday of March, showing description and value of such personal property together with name of consignor and consignee thereof, or if such personal property be delivered for transportation by other persons it shall then be the duty of said person, company or corporation to report same to the county assessor of the county from which such property was received. Act of the Legislature of California, approved Section 1415-SHARES OF STOCK IN CORPORATIONS.Shares of stock in corporations possess no intrinsic value over and above the actual value of the property of the corporation which they stand for and represent. The assessment and taxation of such shares, and also of all corporate property would be double taxation. All property belonging to corporations shall be assessed and taxed, in the manner provided by law; but no assessment shall be made of shares of stock in any corporation except as prescribed in the constitution of this state and the laws enacted pursuant to such provisions of the constitution. Act of the Legislature, approved May 11, 1917; in effect July 27, 1917. Section 1416.-ASSESSMENT AT FULL CASH VALUE.— All taxable property must be assessed at its full cash value. Land and improvements thereon shall be separately assessed. Cultivated and uncultivated land, of the same quality, and similarly situated, shall be assessed at the same value. Act of the Legislature, approved May 11, 1917; in effect July 27, 1917. Except as otherwise provided in the constitution of this state, all taxable property shall be assessed in the county, city, city and county, town, township, or district in which it is situated. Land shall be assessed in parcels, or subdivisions, not exceeding six hundred forty acres each; and tracts of land containing more than six hundred forty acres, which have been sectionized by the United States government, shall be assessed by sections or fractions of sections. Land sold by the state for which no patent has been issued, shall be assessed the same as other land, but the owner shall be entitled to a deduction from such assessed valuation in the amount due the state as principal upon the purchase price. The assessor must, between the first Mondays in March and July of each year, ascertain the names of all taxable inhabitants, and all the 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 persons by whom it was owned or claimed, or in whose possession or control it was, at twelve o'clock meridian of the first Monday in March next preceding; but no mistake in the name of the owner or supposed owner of real property shall render the assessment thereof invalid. In assessing solvent credits, not secured by mortgage or trust deed on real estate, a deduction therefrom shall be made of debts due to bona fide residents of this state. Act of the Legislature, approved May 11, 1917; in effect July 27, 1917. Section 1417.-STATEMENT OF PROPERTY OWNED.The assessor must exact from each 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 in March. Such statement shall 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. 3. All property belonging to, 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 is made, also the city, town, township, school district, road district, or other revenue districts in which it is situated. 5. An exact description of all lands, in parcels or subdivisions, not exceeding six hundred forty acres each, and the sections and fractional sections of all tracts of land containing more than six hundred forty acres, which have been sectionized by the United States government; improvements and personal property, including all vessels, steamers, and other watercraft; and all taxable state, county, city, or other municipal or public bonds, and the taxable bonds of any person, firm, or corporation, and deposits of money, gold dust, or other valuables, and the names of the persons with whom such deposits are made, and the places in which they may be found. 6. All solvent credits, unsecured by deed of trust, mortgage, or other lien on real or personal property, due or owing to such person, or 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 such debts only, unsecured by trust deed, mortgage, or other lien on real or personal property, as may be owing by such person, firm, or corporation to bona fide residents of this state. No debts shall be so deducted unless the statement shows the amount of such debt as stated under oath in 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 his statement must show the name of the person or officer who made the statement in which such property is included. Act of the Legislature, approved May 11, 1917; in effect July 27, 1917. Section 1418.-FERRIES.-A ferry boat is a vessel traversing across any of the waters of the state, between two constant points, regularly employed for the transfer of passengers and freight, authorized by law so to do. Where ferries connect more than one county, the wharves, storehouses, and all stationary property belonging to or connected with such ferries, must be assessed, and the taxes paid, in the county where located. The value of all watercraft, and of all toll bridges connecting more than one county, must be assessed in equal proportions in the counties connected by such ferries or toll bridges. Act of the Legislature, approved May 11, 1917; in effect July 27, 1917. Section 1419.-WATER DITCHES.-Water ditches constructed for mining, manufacturing, or irrigation purposes, and wagon and turnpike toll roads, must be assessed the same as real estate by the assessor of the county, at a rate per mile for that portion of such property as lies within his county. Act of the Legislature, approved May 11, 1917; in effect July 27, 1917. Section 1420.-STATEMENT OF TAX RATE SENT TO CONTROLLER. When the board of supervisors of each county, and city and county shall have fixed the rate of county, or city and county taxation, the clerk of the board of supervisors must, within three days after such rate has been fixed, transmit by mail, postage paid, to the controller, in such form as the controller shall direct, a statement of the rate of taxation levied by the board of supervisors for county, or city and county taxation. If the clerk fails to transmit such statement in the time herein provided for, he shall forfeit to the state one thousand dollars, to be recovered in an action brought by the attorney general, in the name of the controller. Act of the Legislature, approved May 11, 1917; in effect July 27, 1917. Section 1421.STATEMENTS FROM "ASSESSMENT BOOK." The auditor must, on or before the second Monday in August in each year, prepare from the "assessment book" of such year, as corrected by the board of supervisors, duplicate statements, showing in separate columns 1. The number of acres of land. 2. The total value of all property. 3. The value of real estate. 4. The value of improvements thereon. 5. The value of personal property, exclusive of money. 6. The amount of money. 7. Such other information as the state board of equalization may require. Act of the Legislature, approved May 11, 1917; |