COMPILED CODE - Iowa Legislature - State of Iowa

319
Tit. XIV, Ch. 21. INHERITANCE TAX. §§ 4719-4720.
9 at the discretion of the court, and the court or judge thereof in vaca-
10 tion, may also in its discretion, either before or after the appoint-
11 ment of the regular appraisers, appoint other appraisers to act in any
12 given case. Vacancies occurring otherwise than by expiration of
18 term, shall be filled by the appointment of the court or by a judge in
14 vacation. No person interested in any manner in the estate to be ap-
15 praised may serve as an appraiser of such estate.
[S., '13, § 1481-a4 ; 39 G. A., ch. 38, § 6.]
SEC. 4719. Belief from appraisement.
1 All estates subject in whole or in part to the tax imposed by this
2 chapter shall be appraised for the purpose of computing said tax by
3 the regular inheritance tax appraisers; provided that estates liable
• 4 for the payment of the inheritance tax upon specific legacies, an-
5 nuities, bequests of money or other property the value of which may
6 be determined without appraisement, and estates which consist of
7 money, book accounts, bank deposits, notes, mortgages and bonds,
8 need not be appraised by the inheritance tax appraisers if the
9 administrator, executor or trustee or the persons entitled to or claim-
10 ing such property are willing to charge themselves with the full
11 face value of such bequests or property, together with the interest,
12 earnings or undivided profits which may be due on said properties, at
13 the time of death of the testator or intestate, as the basis for the assess-
14 ment of said tax, but in all cases the relief from appraisement for the
15 inheritance tax is dependent upon the consent of the treasurer of
16 state, and the subsequent approval thereof by the court or judge
17 thereof in vacation. In the event that the estate has been duly
18 appraised under the ordinary statutes of inheritance or the property
19 has been sold and such appraisement or selling price is accepted by
20 the treasurer of state as satisfactory for inheritance tax purposes,
21 the court or judge thereof in vacation may, upon proper application,
22 relieve the estate from the appraisement by the inheritance tax apprais-
23 ers; but in order to obtain such relief, the administrator, executor,
24 trustee or other party interested must file an application for relief
25 with the consent of the treasurer of state thereto in the office of the
26 clerk of the court before said clerk issues a commission to the in-
27 heritance tax appraisers. The court or judge thereof in vacation may,
28 upon application of the representatives of the estate or parties inter-
29 ested, relieve the estate of the appraisement for tax purposes if it be
30 shown to said court that the market value of the entire estate will not
31 exceed one thousand dollars ; provided that prior to the application to
32 said court or judge the written consent of the treasurer of state to such
33 relief is procured. In all cases where an estate is relieved from ah
34 appraisement for inheritance tax purposes, the order granting relief
35 shall be recorded in the clerk's office, and the fact of such relief and
36 reasons therefor shall be duly noted in the decree or order of final
37 settlement made by the court.
[S., '13, § 1481-a9; 39 G. A., ch. 38, § 7.]
SEC. 4730. Remainders in realty after term estates to exempted
persons—when appraised.
1 When any person, whose estate over and above the amount of
2 his debts, as defined in this chapter, exceeds the sum of one thousand