Middletown transcript., 1871-03-04
THE NEW TAX BILL.

THE NEW TAX BILL.
There has been reported from the Com
lni,lcc on Ways and Means Of the House
and read the first time. " An Act TO raise
revenue for Statee aud County purposes.
the provisions and requirements OF which
we condense us follows:
Section 1. Provides that in addition TO
real and personal property, liable to as
scssment aud taxation, all debts " secur-
ed by or due upon judgment, decree, rec
ognizancc, mortgage or bond. from sol
vent debtors. (exccpt debts due for goods
and delivered. aud work or labor done and
performed within six months from the
date of said evidence Of dcb,): all stock or
shares owned by residents, firms, assocla-
,ons Of persons. or corporations oil TINS
State. in any bank, institution or company
corporations in any other State or Terri
tory, or in the district Of Columbia; all
debts due TO residents, firms, associations
Of persons, companies or corporations in
this State, by solvent debtors residing out
of this State, (except debts due for goods
sold and delivered, and for work or labor
done and performed within six months
from the date ofcvdcncc therefor } T; all in
vestments in securities or stocks OF other
States, or Of companies Incorporated by
other Sta,es. or by the United States,
made or held by residents, firms, com
panics, association Of persons or corpora
iions Of this State. and all investments in
public loans and stocks whatever, made cF
held by residents, firms, companies, asso'
cia,ions Of persons, or corporations IN thi'
State. exccpt those created or issucd by
! the United States, and exempt from taxa
ton, and as have been issued by this State
and exempt from taxation, shall also b'
Liable to assessment and tax for public
:, purposes"
5 Section .. Provides that all the debts
I stocks or shares securities aud investment
|" "" so liable to assessment under prececdin!
II section, shall be assessed by the Assessor
: of the several hundreds Of the State, n
Z ,hrcc-four,hs of their cash value, an
: returned to the Levy Court OF the sever
al counties on February lst 1872, and o.
:. the first Tuesday of February in ever
: year thereafter The Assessors are r.
auired to call upon all owners Of sue
'F debts &c for true statement and dis
i closure Of the amount thereof and may re
J, aurc tho same under oath. For falls
4. statement the Levy Court is reqired to nj
n 80 per cent to the assessment, aud an
N perjury may be punished as at presepi u,
d der our criminal laws
" " Sections 3 and /. Provide that the A
be SCISSOR shall make written alphabeiic
er statement Of such debts, &c and that n
Ut lie provisions of the Revised Statutes. Al
~ the amendments thereto relating TO Il
assessment of real aud personal proper
o, and poll, the duties and powers of Il
nd Levy Court. Clerk Of the Peace aud a
n, SCISSORS, shall apply to the assessmci
rs under this act, so far as they are consi'
~ cnt Herewith.
ON Section B. Provides that the year
apportionment and levy Of the Levy Cot
U.s. OF the road, poor and county taxes, sh
nj remain rs Mt present, as well as I
nrs present assessments Of real aud p'
NO. NO. soual property and poll, at tho sal
ratc aud in the same manner. !
h.. Road Commissioners Of New Castle Coz
ate ty shall also continue the present levy a
co. npportionment Of road tax. The lie
'hn Court, at the time Of lcvying tho coun
road aud poor taxes shall also levy q
In npportion tax Of ten cents on the hi
a,s 'ns drcd dollars. and pro rata upon the nsse
sed ments Of real and personal property Z
poll, and of all debts, securities. &e.
,usc thew shall stand upon tho hnndred asst
o,el me.t lists; this tax to be set apart for
to use Of the State. and paid to the 81
Treasurer by the County Treasurer. $
be- ton 1S Of chapter 8 of the Revised s
s,nr ssa, ntes is amended to agree with these
visions.
,,m Sections 6. 7. 8, 0 relate to the macl
mers @ cry Of collection. The present hund
,ady collectors TO perform the duties, and Il
pnymcpts TO be made 10 the Cou
lege Treasurer. All present laws upon
the subject are extended TO apply to the
system, 10 far ~ they are consis
bout Herewith.
sace Section 10 provides that the Asses
shall proceed IN make the special ass
,..a.i snc ment Immediately aflcs tho Ansul Ass
msnts are required 70 b. made. sisd
:. :, turn them 70 ~ Lazy Court, which 1
I lsii sct TO receivs them on the-day a.
1871. Ailsr tho said Court shall
/. 3. heard the appeals thsrsfrom, they !
. proceed 70 levy and appostios tbe :
on isr Cosnty ssd State Pssposes. ~