The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1865-01-10
EXPLANATIONS.

Judge Shepherd, the Chairman of the Finance
Committee, publishes in the Fayetteville Observer
the following explanations concerning the Reve-
nue. Law:
FAYETTEVILLE, Dec. %, 1864
AS the Revenue Act is not yet printed for gen
eral use, | will give, with your permission, some
Of the material points which may be interesting to
your readers.
There will be 40 re assessment of property
which is taxed ed valorcm; but the valuation Of
1868 will form the basis The takers of the tax
lists must be appointed at the County Court rext
after the lst Of January, unless such Court should
be subsequent to the I'd Monday of March, and
in that event Special Court must be called to
make the appointments. The tax lists are to be
taken in the last 20 working days OF April and
must be returned to the clerk Of the County Court
by the 2d Monday of May Every person in Civ
ing i'll lands and slaves will render the list near
ly accurate as possible, as to the locality and de-
scripton of lands and the number and ages of
slaves, together with the value both of the lanos
aud slaves at the last assessment If land has
been reduced in value by the destruction of i'm
provements upon it or if slaves have died or be-
come greatly impaired in value, provision is made
to meet the change. In the case Of land the own
er or his agent makes affidavit stating how far
the estate has been reduced in value; and if this
is not satisfactory to the aker of the list, two free
holders are to be called in who will make with the
list takor an adj justment that is final. In the
Of slaves impaired in value, the owner makes
affidavit setting out the measure of his loss. If
he has purchased slaves since the lst of April
1868, aud their value is not known or has not
been ascertaned by assessment in the State, the
owner must give in these on oath and declare their
value the lst day of April 1868. In the case
of slaves subsequently born, the owner must list
them as of the lst day of April, rendering the
value on oath All other subjects required to be
listed, such as debts due, money invested in Stocks
furniture, cotton, tobacco naval stores, &c.,-wi
be given in oath according to the value of the
same on the lst day of April 1868; and whenever
the taker of the tax list is not satisfied with the
valuation by the owner, be may revise and correct
it. The valuation of the slaves is TO be made uni
form through the State 1t was ascertnined by
the returns iu the Comptrollers report that fair
State average is $3.50 Each county now has lis
average fixed by the assessments of 1868. If in
any county the average is under $3.50, it must be
advanced 10 such ratio as will be as nearly equal
as possible to the State average; and the clerk IN
making out his Dext tax list will fix the valuations
of each owner of slaves by such increase to con-
form to this change. The same rule will be ap-
piled, on the other hand, where the county aver
age is above 5000.
The tax on profits, dividends on manufacturing
stock. steamboat and railroad and on the profits
made in buying and selling manufactured goods,
cotton, tobacco, corn bacon, salt, will be per
cent up TO $4,000, then per cent UP to $50 ,O00
from s20 900 to $780, 000, II per cent, and above
$50 600, 10 per cent. Thetax on lands. slaves
furniture, debts due, &c, is l per cent; $1,000 of
property is exempted in favor of soldiers, their