Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1848-04-27
LAWS OF MARYLAND.
Passed by the General assembly Of MaryIand at then
session avhich commenced on the last Monday
of December, lS47.
No. 266.


session ,uhich commenced on the last Monday
of December, lS47.
N titled, can Act for the General Valuation and
Assessment of Property in this State, and to Pro-
vide a Tax to Pay the Debts of the State" passed
at March session, eighteen hundred and torty-one
chapter twenty-thrce.
Section l. Be it enacted by the General assembly
Of Maryland, That all persons and incorporated IN
Stitutions of this State, that IN the year elghteen
hundred and forty-eight and all succeeding years
shall paw their State or before the hrstd day
of September of the year for which the said taxes are
or may be levied shall be entitled to deduction OF
five per centum on the amount of said taxes, all
that shall nav the same on or before the first day
of October of the said year shall be entitled to re-
ducton of four per centum; and all That shal pay
the same on or before the first day OF November OF
the said wear shall be entitled TO deduction OF
three per centum; and at the time OF receiving the
said the collectors the treasurer as the case
NAV be, shall make the deductions aforesaid ana
note the same, upon the receipts gwen 10 the per-
sons or incorporated institutions SO paying as alofe
said hut nothing in this section contained shall De
construed to extend to the taxes Pad or payape OH
the public debt of Maryland. or the stock loans
OF the city or Baltimore, Wuith Shoi w
paid as is now provided by law.
SEC. 9 find be 1t enacted, That on all sums paid
by any collector to the treasurer, on account OF
State taxes for the year hundred and forty
eight, and all succeeding years, on or before the
fifteenth day of September of the year tor which
said taxes are or may be levied the said collector
shall he entitled 10 be allowed deduction OF five
per centum; on all State taxes paid by him on or
before the fifteenth day of October OF the said year,
deduction of four per centum; on all State taxes
Daid by him on or before the fifteenth day of Novem-
of the said year, a deduction of three per centum;
which deduction shall in each case he notedby the
treasurer upon the receipt given to SAID collector
and it is expressly declared to be the intent and
meaning of this section that the deductions atore
said shall be made from the gross amount of the
State taxes placed for collection in the hands OF
said collector and said deductions shall not be in
addition to those made under the provisions OF the
first section of this act.
Sec. 8. 4,d be 1t enacted, That the taxes due for
the year eighteen hundred and forty-eight, and sue
ceeding years shall be collected and paid into the
treasury as follows: two-thlrds OF the taxes tor
eighteen hundred and forty eight shall he paid by
the collectors on or before the first day of January
eighteen hundred and forty-nine, allowances being
made for the deductions on much of said taxes
ember the fifteenth day of October, aad the fifteenth
day of November respectively, according to the pro-
visions of the second section ofthis act and the other
third in full onthe first day ofApril eighteen hundred
and forv-nine and two-hrds of the taxes for eigh-
teen hundred and forty -nine shall be paid with the
allowances aforesaid on or before the first day of
January eighteen hundred and fifty, and the other
third in full on the first day of April, eighteen
hundred and fifty, and in the same manner for
the succeeding years and the taxes levied tor
eighteen hundred and forty-eight, shall be con-
sidered in arrear on the first Gay of January eigh-
teen hundred and forty nne and shall bear interest
from that date at the rate of six per centum per an
num- and so for succeeding years, but no tax payer
shall be charged with interest on his taxes by any
collector until the said collector shall have left with
said tax payer an account OF taxes due from MN
before the same shall be in arrear as aforesaid.
Sec 4. find be 1t enacted, That if any collector
shall fail to pay into the treasury the amounts due
from him according to the provisions OF the third
section of this act, at the times specified in said
section, he shall be charged with interest thereon
at the rate of six per centum per annum from the
times specified for the payment OF SAID amounts,
whether he has collected interest from the tax pay
ers or not; and in of any snch failure to pay.
the said collector shall be subject to all the provI-
sions of the fory-eighth section of the act to which
this is supplement.
Sec. 5. lind be it enacted That it shall be the
duty of the commissioners and levy courts of the
several counties, and of Howard district and of the
appeal tax court of the city of Baltimore, or be-
fore first dav of June next to assess at the full cash
value thereof the capital stock of all incorporated
institutions and companies chartered by this State
whose place of business may be situated within the
limits of said countless district or city, respectively
and before proceeding to fix the valuation OF the
capital stock of any such Institution company, the
said commissioners, levy courts or appeal tax court
shall give twenty days notice to the president or
other proper officers of the said Institution or COM
pany of the time of their meeting to fix said vaua
tion in order that the said president other proper
officer may produce before them such evidence In
regard to the true value of the said capital stock as
he may deem proper, and if any of said institutions
or companies shall refuse to appear or render such
evidence in regard to the value of their stock, 1t
shall be the duty of said commissioners levy
courts or appeal tax court, the best information
they can obtain to value the said capital stock OF said
institution or company to the utmost sum the same
may be orth in cash. and shall such nstltu-
ton or company according, and after said valuation
is fixed it shall be the duty of the said commission
ers levy court and appeal tax court to deduct from
the amount of the essment OF property In said
counties district and city, respectively the assessed
value of all real and personal estate belonging to the
said institutions or companies, ard the State, coun
ty or city taxes shall thereafter be levied on the value
of said capital stock fixed aforesaid; and the said
commissioners, levy courts and appeal tax court
shall send to the treasurer of Maryland an account
the assessment made under this act soon as the
same shall be completed
Sec. 6. find be 1t enacted That it shall be the
duty of the president other proper officer of the
banks, and of all other incorporated institutions and
companies chartered by this State, seml-annually,
on the first day of January and the first day of July
in each and every year, to pay to the Treasurer OF
Maryland the amount of the tax imposed upon the
the capital stock of said banks institutions or com
panes by the act of March session, eighteen hum
dred and forty chapter twenty three, and Its
supplements, whether such banks, institutions or
companies, or any of them. have or have not de-
clared any dividends or earned any profits, with
out regard to the place of residence OF the stock