15-6-131. Class one property -- description -- taxable percentage.
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15-6-131 . Class one property -- description -- taxable percentage.
(1)Class one property includes the annual net proceeds of all mines and mining claims except bentonite, coal, and metal mines.
(2)Class one property is taxed at 100% of its annual net proceeds after deducting the expenses specified and allowed by 15-23-503 or, for talc, as provided in 15-23-515 or, for vermiculite, as provided in 15-23-516 or, for limestone, as provided in 15-23-517 or, for industrial garnets and associated byproducts, as provided in 15-23-518 .