street railways according to the valuation in substantially the manner as in the act for the ad valorem valuation of steam railroads. All other public service companies not so operated come under the general assessment laws, and taxes therefrom are turned over to the localities. The entire tax from this source is paid to the state treasurer, and 85 per cent is audited and paid back to municipalities. Fifteen per cent (15%) of the tax is retained by the state and 85 per cent is distributed to the localities through which the lines are operated in proportion to property located and business transacted within the several towns, villages and cities, through which the lines run. Street railways are also taxed at the same rate of taxation as railroad property.
Income Tax
Under its administration have been placed the new income tax law as well as the graduated inheritance tax law. Both of these acts have special expert men for the sole purpose of enforcing them. The income tax deserves some slight mention.
This law (chapter 658, laws of 1911) is now exciting much discussion in the state, and public opinion is quite evenly divided as to its wisdom, but seems to be slowly becoming friendly—perhaps as quickly as can be expected for an act of this kind in an American community. It is an honest attempt to supplant the personal property
