§ 260. Determination and apportionment by the state tax commission.\nWhen the real property covered by a mortgage is situated in more than\none tax district, the state tax commission shall apportion the tax paid\non such mortgage between the respective tax districts upon the basis of\nthe relative assessments of such real property as the same appear on the\nlast assessment-rolls. If, however, the whole or any part of the\nproperty covered by such a mortgage is not assessed upon the last\nassessment-roll or rolls of the tax district or districts in which it is\nsituated, or is so assessed, as a part of a larger tract, that the\nassessed value cannot be determined, or if improvements have been made\nto such an extent as materially to change the value of the property so\nassessed, the tax commission may require the local assessors in the\nrespective tax districts, or the mortgagor, or mortgagee, to furnish\nsworn appraisals of the property in each tax district, and upon such\nappraisals shall determine the apportionment. If such mortgage covers\nreal property in two or more counties, the tax commission shall\ndetermine the proportion of the tax which shall be paid by the recording\nofficer who has received the same to the recording officers of the other\ncounties in which are situated the tax districts entitled to share\ntherein. When any recording officer shall pay any portion of a tax to\nthe recording officer of another county, he shall forward with such tax\na description sufficient to identify the mortgage on which the tax has\nbeen paid, and the recording officer receiving such tax shall note on\nthe margin of the record of such mortgage the fact of such payment,\nattested by his signature. The tax commission shall make an order of\ndetermination and apportionment in respect to each such mortgage and\nfile a certified copy thereof with the recording officer of each county\nin which a part of the mortgaged real property is situated.\n When the real property covered by a mortgage is partly within the\nstate and partly without the state it shall be the duty of the tax\ncommission to determine what portion of the mortgage or of advancements\nthereon shall be taxable under this article. Such determination shall\nbe made in the following manner: First: Determine the respective\nvalues of the property within and without the state, and deduct\ntherefrom the amount of any prior existing mortgage liens, excepting\nsuch liens as are to be replaced by prior advancements and the\nadvancement under consideration. Second: Find the ratio that the net\nvalue of the mortgaged property within the state bears to the net value\nof the entire mortgaged property. Third: Make the determination of the\nportion of the mortgage or of the advancements thereon which shall be\ntaxable under this article by applying the ratio so found. If a\nmortgage covering property partly within and partly without the state is\npresented for record before such determination has been made, or at the\ntime when an advance is made on a corporate trust mortgage or on a prior\nadvance mortgage, there may be presented to the recording officer a\nstatement in duplicate verified by the mortgagor or an officer or duly\nauthorized agent of the mortgagor, in which shall be specified the net\nvalue of the property within the state and the net value of the property\nwithout the state covered by such mortgage. One of such statements\nshall be filed by the recording officer and the other shall be forthwith\ntransmitted by him to the state tax commission. The tax payable under\nthis article before the determination by the tax commission shall be\ncomputed upon such portion of the principal indebtedness secured by the\nmortgage, or of the sum advanced thereon, as the net value of the\nmortgaged property within the state bears to the net value of the entire\nmortgaged property as set forth in such statement. The tax commission\nshall on receipt of the statement from th
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