Valuation, depreciation and the rate base

Bibliographic data

Monograph

Identifikator:: 174667931X

URN:: urn:nbn:de:zbw-retromon-119897

Document type:: Monograph

Author:: Grunsky, Carl Ewald http://d-nb.info/gnd/10180959X

Title:: Valuation, depreciation and the rate base

Edition:: 2. ed., revised and extended

Place of publication:: New York

Publisher:: Wiley

Year of publication:: 1927

Scope:: X, 500 Seiten

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XIII. The valuation of mines and oil properties

Collection:: Economics Books

THE VALUATION OF MINES AND OIL PROPERTIES 251 by the owner). In 1915, the assessed value was fixed at 25 per cent of the gross annual proceeds or the net annual proceeds whenever this exceeds 25 per cent of the gross proceeds. Im- provements are assessed at the same rate as other property in the vicinity is assessed. It is claimed in Colorado that this law permits the owner of a large idle group of claims to pay no greater tax than a prospector actually working a single claim. Idaho, Montana, Nevada, New Mexico and Utah tax the net proceeds of mining properties. In Idaho the net proceeds are used as a basis for the assess- ment. Improvements are assessed at full cash value. The ground of undeveloped claims is taxed on the prices paid to the U. S. Government when they were purchased. Montana bases its mine tax on the net proceeds. The surface is assessed at the price paid to the U. S. Government ($5 per acre for metal mines and $2 per acre for coal). If the sur- face is more valuable for other purposes, it is assessed at the market value of such property. Surface improvements are taxed at market or local value. Nevada assesses all patented claims at $500 unless it can be proved that over $100 worth of work has been done during the year. Improvements are assessed at local value. A tax is levied on the net proceeds of all operating mines. By deduct- ing such charges for operation, transportation and reduction or sale of output as the State Tax Commission permits, from gross value of the production, the net proceeds are estimated. No deduction for office expenses other than those of operating offices are permitted. The salaries of mine officials are limited. The investment in surface plant is not depreciated nor is the redemption of any investment in mine ground or prior develop- ment permitted. By an agreement between the Tax Commis- sion and operators, future levies were to be made only on 6o per cent of the net profits or the same percentage which is applied in assessment of other property. During 1913, this percentage has been raised to 70 per cent by the Tax Commission. New Mexico has placed its mine taxation in the hands of a

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