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To the President of the Senate and the Speaker of the House:
We respectfully submit the following report in compliance with an order of the Legislature dated March 15th, 1909, "That the State Assessors be instructed to ascertain the actual value of all the railroad property in the State of Maine of all kinds, including franchises, real estate, bonds and stock and report to the next Legislature for the purpose of taxation."
We have endeavored to place a reasonable construction upon the direction contained in this order, and from the discussion which preceded its passage in both branches of the Legislature, and the fact that the avowed object of the order was for the purpose of taxation, we are led to believe that the Legislature did not intend to instruct the State Assessors to undertake the impossible task of ascertaining the actual value of this railroad property, but rather that we should, in the light of all the information and facts that we could obtain report what we believed to be a just and reasonable value of the property of each railroad corporation employed in the operation of its business; such a valuation as is defined by the Constitution and laws of the State as the proper basis of taxation.
State of Maine
railroad valuation, State of Maine, 1911
Maine Board of State Assessors, "Railroad Valuation: Report of the State Assessors to the 75th Legislature of Maine" (1911). Books and Publications. 166.