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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (May 1, 1957)
Wadnwday. May 1, 1957 MEDFORD (OREGON) MAIL TRIBUNE WOW THERE'S ONE IN EVERY FAMILY Honey, a Pennsylvania black bear, has trouble getting her fourth cub to line up at the Glenwood Park Zoo in Erie, Pa. For the sec ond year in a row. Honey gave birth to quadruplets. According to the experts, triplets are a rarity for bears and quadruplets are practically a phenomenon. The cubs are 3V4 months old. Property Taxpayers Have Until May 18 to File for Corrections- Salem Oregon's property taxpayers have until May 18 to file petitions with county boards of equalization for correction of property assessments, Samuel B. Stewart, State Tax commission chairman, has announced. Taxpayers who feel their property is assessed too high should obtain necessary peti tions from the county assessor or county clerk, Stewart said. All county boards of equali zation will convene on Monday, May 13, to make the annual re view of assessments in their re spective ceunties. Oregon law ! true cash value using this post- provides that a property owner ed ratio, can test the assessment may appear in person or may be represented by his attorney before the board of equalization when it considers petitions for reductions of assessments. Jackton Rati The posted ratio in Jackson county this year is set at 30 per cent, according to Ray Schu macher, county assessor. County assessors are required to post the ratio used in assess ing property. Taxpayers, by converting assessed value to Majority Reports on Inheritance, Gift Taxes Go To House Salem (U.R) Majority re ports by the committee on taxa tion recommending that two Democratic tax bills boosting in heritance and gift taxes should pass were accepted by the House Tuesday after minority reports were defeated. The bills were virtually as sured of passing the House to day. Vote killing the minority re port on the inheritance bill was 39-19 and 38-20 on the gift tax bill. Rep. Clarence Barton, Coq- uille Democrat and chairman of Mother, Son Meet After 32 Years Miami Beach (U.R) Lester Lee, 56, of Pensacola, Fla., said it was "like a voice from the dead" when his 82-year-old mother spoke to him on a tele phone after a 32-year separa tion. Lee and his mother, Mrs. Mae Lynch, each thought the other was dead until chance led to their reunion here. Lee said he came here to at tend a mosquito control conven tion and decided on the spur of the moment to call an aunt, Mrs. Stella Radenbush. Another woman answered the telephone and he asked for his aunt. At first she was unbeliev ing, but finally gasped: "Do you know who you just talked with? It was your mother." Then Lee gasped. He explained he left Pensa--cola about 1925, traveled ex tensively for about 10 years, and returned to Pensacola to find his mother gone. Her property had been sold under circum stances indicating she had died. Mrs. Lynch said she moved to New Jersey while her son was traveling and wrote letters to him in care of Pensacola general delivery. When the mail was not picked up, she said she assumed he was dead. Oregon Students Win Scholarships Evanston, 111. flJ.R) Nine Oregon students were named to day by the National Merit Schol arship Corporation which chose 830 brilliant teen-agers as win ners of college scholarships. The 830 winners and the col leges they have chosen to attend will share more than $4 million in scholarship aid provided by 57 companies and foundations. Oregon winners included John Trenholme, Eugene, California Institute of Technology; J o h n Champion; Pendleton, California Institute of Technology; Sandra Anderson, Portland, Reed Col lege; Jo Anne Gevurtz, Portland, Stanford; Irene Gordon, Port land, Swarthmore; James Grew, Portland. Stanford; James Wirth, Portland, Notre Dame; William Richter Salem, Willamette, and Marjorie Simila, Salem, Ore gon State College. the House Taxation Committee, said both bills were designed to bring about equality among all taxpayers of Oregon. Rep. Vernon Cook, Gresham Democrat, explained the maj ority view of the tax committee on House bill 797 which would raise about $Z million dollars in new inheritance tax revenue. Cook said the heart of the bill was not rate changes but the fact that insurance of more than $60,000 was taxed and also any real property of more than $25,- 000 owned jointly by a husband and wife. , Comparing Oregon rates with California and Washington, Cook said Oregon was still " the best nlace to live and to die on the West Coast." California starts taxing insur ance at $50,000 and Washington at $40,000. Rep. Wayne Giesy, Monroe Republican, opposed taxing in surance in his minority report. He said insurance was the only way young businessmen could srotect their businesses, adding that rate schedules in the bill would compound taxes and cause liquidation of many estates. Rep. George Layman, New berg Republican, went with the Democratic majority in asserting that the inheritance tax was rea sonable. "A responsible minority can't be against all new sources of revenue if the rates aren't unreasonable,"" Layman said. Rates At Maximum Barton said Oregon rates reached their maximum of 23 per cent at $1,500,000 while Washington's maximum of 25 per cent was effective at $25,000. On the gift tax bill, House bill 798, Giesy said the rates doubled up depending on wheth er or not the person receiving the gift was a close relative or not. Cook said the purpose of the gift tax was to prevent wealthy persons from giving away their money to avoide the inheritance tax payments. He said not much revenue was involved, but the bill was important as a protect ive measure. Under the bill $5,000 a year could be given to a relative tax free. on the property he owns. True cash value by law is set at 80, per cent of the market value for real property, but for personal property such as mer chandise, livestock, and farm equipment, true cash value is usually 100 per cent. To test the value placed on the- property by the assessor, the taxpayer would -have to make two calculations, first, to find the true cash value, and second, to find the market value. First Computation The first computation is to di vide the assessed value as shown on the tax roll by the posted ra tio. This will jndicate the true cash value of the property. Sec ond, he must divide the true cash value by 80 per cent to ob tain the market value. Then, with the market value calculat ed, he can readily make the comparison between his idea of the valuation of the property and the assessor's market value. For example, if the assessed value of a home is shown on the tax statement or the assessment roll as $2,000, and the posted ratio is 25 per cent, then divid ing $2,000 by .25, a true cash value of $8,000 is found. This true cash value, figure is then divided by 80 per cent to deter mine the market value of the property which, in this case, would be $10,000. Posted Ratio t . This use of the posted ratio will enable property owners to make a simple comparison of their assessments. If, after mak ing these calculations, they find they are assessed too high, they have a case for appeal to the board of equalization for adjustment. Any taxpayer planning to ap peal to the board of equaliza tion should first review his as sessment with the county asses sor. If the assessor makes no ad justment, the taxpayer has the privilege of placing his case, prior to May 18, before the county board for further consideration. If the board of equalization does not give the requested re lief, the taxpayer can then con tinue his appeal at a later date to the State Tax commission, thence into the courts.. County boards are not re quired to consider appeals that are filed after the May 18 dead line, Stewart pointed out 50 DIFFERENCES Washington (U.R) Rep. Glenn Cunningham (R-Neb.) to day told his constituents in a newsletter about an "unfortun ately but true" saying making the rounds here: If you owe $50. you're a piker; if you owe $50,000, you're a businessman; if you owe $o0 million, you re a tycoon; and if you owe $50 bil lion, you re the government. "I'm city's MISPLACED MELODY Sioux Falls, S.D. U.R) from Sioux Falls," the new official song, was written by Lloyd Norling, who's from Evanston, 111., It was announced Tuesday. PACIFIC ; IHDUSTRIAIT" 16 S. Central Phem SP 3-5308 ortlaiidI I4Mn-'T I MSTCORST. 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