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r % Mr. W. R. Bracken* Mr. Frank strong Mr. E. E. Bennett Mr. Leo A.McN&mee Los Angeles, March 11, If46. r <* 1 0 2 0 Mr. A. H. Scribner: Om^ Re Nevada taxes: there will be inoreases in the 1946 taxes on the \ properties of the LVL&W and of the Railroad in Las Vegas. \ the probable amounts of these increases cannot be estimated at this time. It is represented that the County, City and School \ organisations will not be able to satisfactorily operate on the revenues available at the maximum tax rates allowable by statute from the present assessment roll which has recently been substantially reduced by the loss of the valuation here* tofore assessed against the Basic Magnesium plant. Under pressure from the Chamber of Commerce, the County Assessor will undertake to increase the assessment roll by the equal!- \ zatioa of local real property assessments, and by the assessment of certain railroad property heretofore assessed by the State Tax Commission, namely the leased portions of the yards along Main Street. He may undertake to increase the Cosnais-sion* s recommendation of the valuation at which the LVL&ffl water plant should be assessed. It should be understood that the local real estate assessments in many cases have been unchanged for several years and that the roll should be equalised. Under whatever process of equalization applied by the Assessor, the valuation of the LVLAST town lots and the acreage of both companies will be increased; these properties are among many the assessments of which have not been changed during recent years. The extent to which the valuations of these properties may be increased is not determinable at this time. The Assessor apparently proposes to assess at 100^ of full value - much property is probably sot assessed at 10 to of its value. It le improbable the Commission will sustain our protest against assessment by the Assessor of those portions of the railroad yards leased for warehouse or Industrial purposes. In view of the substantial improvements now existing on many of these leased sites the Assessor nor the,Commission will be convinced those properties axe considered by the Railroad as being necessary at any near future time for operative purposes. The Assessor has mentioned only the Main Street frontage.