Evening star. [volume] (Washington, D.C.) 1854-1972, 1860-07-21

THK CORPORATION TAX LAW FOR Is6O-This
! law provides substantially as follows:
Sec. L. That there shall be imposed for the
year lo6O tax at the rate of SIS cents on every 100
OF the assessed value of all real and personal
property in the city Of Washington; of an stoc ks
which may be owned and possessed ~ adv person
whaievefi IN any banking Insurance, or iBcorpo-
fateo or nnlncorporated company of said city; Of
all bonds and mortgages; of all stoc ks: Of all
kinds of public securities and of every d-scri D.
ton Of property in said city, or which NAV be
held or owned by the inhabitants thereof accord
Ing to the assessment and valuation of the same
as made and returned by the Board of Assessors
2 That 1t shall be the duty of the Collector Of
Taxes TO deposit to the credit of the general fund
all money which may be received by him for
taxes on all stocks which may be owned and
possessed by any person whatever, in any banking
Insurance, or other incorporated or unincorporated
company In the city of Washington, under the
nrst section of this act the money received by
him for taxes on all other taxable property to be
deposited to the credit Of the wards respectively
In which 1t may be collected
.. Inat there be imposed and laid for the year
1860 tax at the rate of SIS cents on every I6 of
the assessed amount Of capital employed in the
business of all private bankers brokers' and
money-lenders In this city, according to the as
sessInent and return OF the same by the Board of
Assessors; the said tax to be due and PAYABLE and
to be levied and collected the taxes i'm posed by
the hrst section Of this act are due and payable
persons engaged In the business or employment
OF private banker, broker, or money-lender shall
fail or refuse to pay the tax which may be due
from him or them under this section within
thirty days after the same shall have become due
ana payable the person or persons so falling or
refusing shall forfeit and pay to this Corporation
hne not exceeding SO for each and every day he
or they may so fail or refuse TO pay said tax to be
recovered and applied as other fines of this Cor
PoratlOn are recovered and applied
a. That 1t shall be the duty of the Collector of
Taxes to deposit to the credit of the general fund
all money which may be received by him for the
tax imposed by the third section of this act
D. That the tax imposed by the third section of
this act on the assessed amount of capital In the
business Of all private bankers brokers, and
money-lenders is hereby declared to be i'm lien of
any license or other tax the business of all Dri
pay the said tax.
s. That on all taxes accruing under this act If
paid on or before the first day of September next
the Collector is hereby authorized to allow an
abatement OF five per centum thereon; on all of
said taxes paid after the first day of September
next and on or before the first day OF October
next, the Collector is hereby authorized to allow
an abatement Of three per centum thereon after
which no abatement shall be allowed
y: That, In addition to the taxes imposed and
levied under this BILL there be imposed and
levied an additional tax in alLand every case of 10
cents on every 800 of tine assessed value of
as aforesaid; the proceeds of which shall be set
apart and used for the support of the public hools
OF this city, and for no.other purpose
~ Ihat In addition to the amount set apart by
the ninth section of this act for the pnbic schools
the same per centage OF all back taxes hereafter
collected shall also be placed to the school fund
by the Collector.