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The State Board of Equalization, created in 1867, was responsible for lowering or raising the total assessed value of property in any county to make property in that county bear a just relation to the assessed values of property in other counties of the state (L. 1867, p. 105).
The board met annually to examine abstracts of assessments of real and personal property which were prepared by the Auditor of Public Accounts from the assessment returns of each county clerk. The board examined and compared the assessed valuations presented by each county, determined if the valuations were too high or too low based on statewide valuations, and set a uniform rate for each county by which both real and personal property valuations would either be increased or reduced to their proper values. If reports of more than one-third of the townships in a county had not been received in time for the yearly meeting of the board, the Auditor of Public Accounts was empowered to equalize the assessments for that county upon full receipt of the reports.
In 1872 the board's equalization authority was extended to cover the property of railroad and telegraph companies and the capital stock of all companies or associations incorporated under the laws of Illinois (L. 1871, p. 1). Railroad property so assessed included real estate, railroad track, and rolling stock. In 1905 the board was directed not to assess the capital stock of companies and associations organized for purely manufacturing or mercantile purposes, for mining and sale of coal, for printing, for the publishing of newspapers, and for the improving and breeding of stock (L. 1905, p. 353). The State Board of Equalization was abolished in 1919 and its powers and duties were transferred to the newly created State Tax Commission (L. 1919, p. 718).
See also STATE TAX COMMISSION, RG 413.000.
401.001
PROCEEDINGS OF ANNUAL BOARD MEETINGS. 1867-1873; 1877-1908. Fair copy: 5 vols. Rough copy: 2 vols. No index.
Proceedings of annual board meetings concern the selection of officers, a secretary, and other assistants; the appointment of members to various committees including those which concern assessment of personal property, land, town and city lots, and general equalization; and, after 1872, assessment of railroad and telegraph company property and the capital stock of companies incorporated under the laws of Illinois.
Bulk of record consists of reports from Auditor of Public Accounts to board, reports of the board's various committees, and the board's actions on these reports. Reports concerning assessment of personal property include tables enumerating total assessed value of specific categories in each county (i.e., horses, cattle, mules and asses, sheep, hogs, carriages and wagons, clocks and watches, pianos, goods and merchandise, banker's property, manufactured articles, monies and credits, stocks and bonds, capital stock of banks, unenumerated property, and, after 1872, steam engines and boilers, fire- and burglar-proof safes, billiard tables, sewing or knitting machines, melodeons or organs, franchises, annuities, patent rights, steamboats and sailing vessels); deductions; total assessed value of personal property in county; and aggregate value of personal property in county.
Reports concerning assessment of land include for each county tables enumerating total number of acres of improved land, total assessed value of land, total assessed value of improvements on land, average value per acre, total number of acres of unimproved land, total assessed value of unimproved land, average value per acre, total number of acres of all land, total assessed value of all land, and average value of all land per acre.
Reports concerning assessment of railroad property include for each railroad tables enumerating name of railroad, number of acres of right-of-way, assessed value of right-of-way, assessed value of improvements other than buildings on right-of-way, number of miles and total assessed value of main track, number of miles and total assessed value of side section or turnout of track, total assessed value of all track and rolling stock, and average value per mile of track.
Reports concerning assessment of stock of corporations other than railroads and telegraph companies begin after 1872 and include tables enumerating county in which company located, name of corporation, location, and assessed value of capital stock.
Other reports variously concern names and locations of national banks within the state and amount of capital stock paid up by each and the percentage of each railroad's property located in each county and amount of tax to be distributed to each county based on such percentage. Proceedings also contain tables showing final determination of adjustments to be made in each county's assessment of real and personal property including name of county, assessments as returned to Auditor from that county, percentage to be added or deducted from total assessed value, and the equalized value of property within county as a result of adjustment.
401.002
RECORD OF ASSESSMENTS AND EQUALIZATIONS OF CORPORATIONS. 1888-1889; 1894-1901. 4 vols. No index.
Yearly tabulated summaries for each incorporated company and association, arranged by county in which located, were presumably prepared by the Auditor of Public Accounts based on actions of the State Board of Equalization. Entries for each corporation include name of corporation; city in which located; amounts of assessments for capital stock, personal property, land, town or city lots; and equalized value of capital stock.
401.003
RECORD OF AUTHORIZED CAPITAL STOCK. 1887-1889. 1 vol. No index.
Tabular summary of the amount of authorized capital stock for incorporated companies or associations, arranged by county in which located, was presumably prepared by the Auditor of Public Accounts for the use of the State Board of Equalization. Entries for each corporation include name of corporation, city in which located, amount of capital stock authorized, and remarks (e.g., not yet in operation, consolidated, sold out, out of business).
These records are available at the Illinois State Archives, Office of the Secretary of State.
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