Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1872-04-11
THE TAX BILL.

The following is the tax bill rs it passed
both Houses of the General Assembly
l. BE 1t ena~te9 byshs GmrtI Assem-
lily Of Tirginio, That the taxes on The
persons and subjects required to be LISTED
by the net entitled an act for the assess
ment of taxes on persons, property, IT.
come, licenses. &s., and on business o,
other subjects not required to be listed
under said act. but to be taxed. shall, fol-
the year commencing on the l st day Of
February 1872, and each year thereafter,
lie as follows:
z. Taxes on Lands and Lots-On
tracts of lands and lots, and the in
provements thereon, not exempt from
taxation. there shall lie tax Of so cents
Oh every hundred dollars of the es,ed
value thereof. the proceeds Of one fifth
Of which shall be applied to. the supper.
of the public free schools of the State
3. On Collateral Inheritances Upon
any estate of deeedent which shall pass
ny his will, OF upon his intestaey, 10
any person other than his liueal descen-
daut or his father, mother, husband :,
wife, brother, sister, nephew or niece,
the tax thereon shall be six per ceutum
upon the value or amount thereof
/, On Persons--Upon every male
person. as classified in schedule A of said
act, over the age Of q years, DO. exempt
from taxation for bodily inirmity, there
shall be II tux Of 81 fox public free school
purposes.
o.. Ga Personal Property-On the
personal property mentioned in schedule
b of said act, there shall be a tax of so
cents Oh every 500 value thereof, the
proceeds of one fifth whereof shall be
applied to support Of the public free
schools Of the State.
&. On Personal Property in Chooses in
Action. &c and Toll-Bri3ges-On all
personal property in chooses in action, &c.
aud toll-brioges and ferries, as embraced
IN schedule G Of said act there shall be
tax of 80 cents On every 500 value
thereof, the proceeds of one-fifth whereof
shall be applied to the support Of the
public free schools of the State.
7. On Income-On the income derived
from interest or profits as the same is
defined in schedule d of said act, tho
tax shall be one per eentum on the
amount Of such income in excess Of
$1,000.
ON BUSINESS AND OTHER SUBJECTS.
5. On Railroad and Canal Companies
Or the real and personal property Of
every railroad and cana. company, there
shall be d tax of SO cents on every hun
dered dollars of the estimated value
Thereof, the proceeds of one fifth of which
,ha'l be applied to the support of the
public free schools OF the State.
There shall be paid upon the indebted
ness ofany such company. in lien of the
property thereon, out of all interest due
aud payable upon such indebtedness after
the passage Of this act, tax equivalent
to so cents upon the 500 of the market
value of the bonds upon such interest
shall accrue, the market value of sush
bonds to be asseertained as of the FIRST
day of May in each year. Every such
company shall retain and collect for the
state the tax hereby required to be paid
out of interest upon IFS Indebtedness,
well as to bonds held or owned by non
residents of this State, as to bonds held
or owned by residents of this State, and
deducting said tax from such interest,
sdall pay the same into the treasury TO
the credit Of the auditor Of public accounts
within thirty days after such interest
shall have become due or payable. Any
tax so retained aud paid over by such
company out of interest upon its in
debtedness, shall be pro tanto a just and
proper credit and offset in favor of auch
sampapy and against any claim for such
Interest. TIE bonds out of the interest
upon which such tax is required to be
retained, shall be exempt in the hands OF
the owners thereof from the tax imposed
BY shis State upon property, and from
assessment therefor
Alny company failing to comply with
the provisions Of this act, and to collect
retain, and pay over to the auditor the
tax hereby imposed, within thirty days
after such interest shall become due or
payable, shall be liable to penalty of
$1,000 and to FIVE per centum damages
upou the amount ofsucli tax
All such taxes shall be collected from
suy such company, in default in the psy-
meat thereof. 10 the same name chat
taxes against tho property Of such com
pauies are now authorized and required
10 be collected by law. The amount Of
interest out Of which such tax il to be
paid. shall be asccrtained in the manner
provided in the act for tbe assessment Of
taxes nov in force which said restion,
b 'vever, shall not authorize the super
7isols in any county through which said