Smyrna times., 1871-03-01
The New state Tax Eli.

Ihe New state Tax Bill.
There has been reported from the COMM,
tee on Ways and Means of the House anal
read the first time, " An Act to raise reyeun.
for State and County purposes" the proyi
slons aud requirements OF which We cund.p>.
as follows
Section l. Provides that in addition to real
and personal property, liable to assessment
and taxation, all debts " secured by or du.
upon Judgment, decree, rec0gnizance mort
gage or bond, from solvent debtors, (exc.It
debts due for goods sold and delivered, and
work or labor done and performed within siv
months from the date Of said evidence Of
debit; all stocks and shares owned by residents
firms, associations Of persons, or corporations
OF this State, in any bank, institution or com
pany incorporated III any other State or Ter.
ritory, OF 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 thi,
State, Except debts due for goods sold and
delivered, and for work or labor done and per
formed within six months from the date of
the evidence therefore, all investments in
securities or stocks OF other States, or Of com.
panies incorporated by other States or by the
United States, made or held by residents.
firms, companies, associations OF persons, r
corporations of this State; and all investments
in public loans and stocks whatever, made or
held by residents, firms, companies, aS>ocia-
tiOns or persons, or corporations III this State,
except in those created or issued by the
United States, and exempt from taxation and
such as have been issued by this State and
exempt from taxation, shall also be liable to
assessment and tax for public PURPOSES
Section 9 Provides that all the debts,
) stocks or shares, securities and investments 50
liable TO assessment under the preceding Sec
ton shall be assessed by the Assessors OF the
several hundreds of the State, at three-tourths
: of their cash value, and returned to the Levy
Court OF the several counties on February lst,
1871, and on the first Tuesday Of February in
every year thereafter. The Assessors are re-
qured to call upon all owners Of such debts
r &c for a true statement and disclosure OF the
y amount thereof and may require the same
;, under oath. For false statement the Levy
% Court is required to add 80 per cent. to tL'
: assessment, and any perjury may be punished
i as at present under our criminal laws.
, Sections and a. Provide that the AssessO
shall make written alphabetical statemeh
of such debts, &c, and that all the provision
&c of the Revised Statutes, and the amendment
3 thereto relating to the assessments OF real an
l. personal property and poll, the duties an
y powers Of the Levy Court, Clerk OF the PeaC
Ig and Assessors, shall apply to the assessment
y under this act, so far as they are conslstel
Or Herewith.
it Section 5. Provides that the yearly appo
b tionment and levy of the Levy Court Of th
road, poor aud county taxes, shall remain
at present. as we'll as the present asseSsmen
u, of real and personal property and poll, at Il
q same rate and in the same manner. IL
VI Road Commissioners of New Castle Count
eS shall also continue the present levy and a
~ portionment of road tax The Levy Court,
~ :, the time of levying the county, road and pO
" taxes, shall also levy and appOrtOn tax
ten cents on the hundred dollars, and pro ra
es upon the assessments OF real and person
at property and poll, and of all debts, securitie
en- &c, as they shall stand upon the hundrt
ls- assessment lists; this tax to be set apart II
the use of the State, and paid to the Sta
~ Treasurer by the County Treasurer SectlC
- ~ Is OF chapter 8 of the Revised Statutes
. amended to agree with these provisions.
- Section 6, I, 8, 9, relate to the machinery
:. collection. The present hundred collectors
-" perform the duties, and their payments to
: made to the County Treasurer. All prese
IS laws upon this subject are extended to app
IT. to the new system, so far as they are consl'
St ent Herewith.
" Section 10, provides that the Assessors shi
proceed to make the special assessment lmm
K diately after the passage of this Act, IN Il
en- same manner as the Annual Assessments a
OF required to be made, and return them to Il
Levy Court, which shall set to receive the
- on the - day of - 1871. After Il
=. said Court shall have heard the appeals theT
u ! from, they shall proceed to levy and apporu'
=, ~ the taxes for County and State purposes, al
n issue the duplicates therefor.