Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1873-04-12
PUBLIC LAWS.
Assessment Law Of the State Of Ten
nessce Passed March 22, 1873.

I nessce Passed March 22, 1873.
An Act to provide more Just and equitabl
Laws, for the Assessment and Collection {
Revenue, for State and County purpose.
ana to repeal all Laws nowin force where
ment of Real Estate, Personal Property
Privileges and Polls
SECTION l. Be it enacted by the Gen
eral Assembly of the State of Ten
nessee, That all property, real
personal and mixed, shall be assessed
for taxation, except such as isdeclaret
exempt in the next section.
SEC. 2. Be it further enacted, That
the property herein enumerated shall
be exempt from taxation, and none
other: ~
First. All property belonging to the
United States; to the State of Ten
nessee; to any county in the State, OF
any Incorporated city. or town,
in the State. that is used exclusively
for public or corporation purposes.
Second. All property belonging to
any religious, charitable, scientific, lit
erary or educational institutions, and
actually used for the purposes for
which such institution was created, not
exceeding fifty thousand dollars in
value.
Third. All property belonging to
public schools, academies and other
seminaries of learning, not exceeding
fifty thousand dollars in value, and all
real estate worth not more than ten
thousand dollars, owned by agricultur-
al and mechanical associations, and
used by them for such purposes.
Fourth. All cemeteries, places of
burial used as such, and monuments of
the dead.
Fifth. All roads, streets, alleys and
promenades, where conden n I'd, dedica-
ted, or thrown open for public travel
or use, free of charge.
Sixth. All growing crops of what
ever nature or kind, the direct product
of the soil in the hands of the pro-
ducer, or his immediate vendee.
Seventh Personal property to the
value of one thousand dollars.
Sec. 3. Be it further enacted, That
in order to providefor State and coun
ty purposes, property, privileges and
polls, shall be assessed annually, as
hereinafter provided.
SEC. 4 Be it farther enacted, That
the basis of all assessments, shall be
as follows, viz:
First. To assess the property to the
person, or persons owning, or claiming
to own the same, on the 10th of JAN
uary of the year for which the assess
ment is made, if known; if not, then
to unknown owner.
Second. To assess real property at
its market value. on credit of one
and two years, deducting fifteen per
cent. in gross.
Third To assess personal property
at the same value at which it ought to
be appraised in payment of just
debt, in cash, from a solvent debtor
Fourth. To assess the property in
the district, or ward in which it lies,
or is known to be at the time of as
but all stock in bank, bank
ing associations, or other cor
porations, or joint stock COM
panies, shall be assessed in the
place, town, ward, or district, in which
such banks, banking associations or
other corporations are located. a
Sec. 5. Be it further enacted, That
in assessing real estate, the following
shall be shown: 81
First. The description of the prop
ty.
Second. The name of the owner, or
owners.
Third. The value of the land, CT
town losts, including improvements.
Fourth. The value of mills, manu-
factories, distilleries, breweries, found
cries, and other buildings used for SIM
liar purposes.
SEC. 6. Be it further enacted, That
in describing real estate, the fol-
lowing rules shall be observed:
First. The number of town lots,
and block, of which the property is
the whole, or part, shall be given; the
name of the street, avenue, alley, on
which it fronts; and the front thereon
shall be given; unless the size, dimen-
,ions and quantity can be more con-
given in acres, then to be
given in acres; but a failure to so as
;ess, according to this section, shall
not vitiate sales of lands for taxes.
Second. If the property is part of
my known subdivision, the number
by which it is known on said sub-di-
vision, its size, dimensions, quantity in
front feet, or acres. stall be given.
Third. In describing tracts of lands,
when it can be done, the surveyors
district, range, township, section, and
sectional sub division, shall be desig-
mated, and the number of acres. If
his cannot be done, that mode of de-
,cription shall be adopted that Will
IDENTIFY the property, and its location.
SECT Be it further enacted, That
personal property shall be assessed
Inder the following head:
First. The actual stock in each
oank, or banking, insurance, or other
stock company or corporation invested
in business.
Second. Stocks of merchandise.
wares, goods, and chattles kept on
hand, or in store, for sale, trade or
;rafic.
Third. Merchandise, wares, goods,
md chattles, sold at auction, or on
Fourth. Notes, due bills, negotiable
paper, and accounts on solvent persons,
,r parties believed to be solvent, and
i'll other assets, including cash on
land, or on deposits in this State or
elsewhere.
Fifth. All bonds, stocks and other
ike securities, other than such as are
exempt from taxation by the laws of
he United States, or of this State.
Sixth. Stations. mares, Ceilings,
acks, jennets, cattle, sheep and hogs.
Seventh. Watches, plate, iewelry,
pianos, and household and kitchen
furniture.
Eighth. Carriages, buggies. and all
,ther wheeled vehicles of pleasure
II profit.
Ninth. Machinery, engines, presses,
ooms, steamboats,, ferryboats and tools
md implements of all pursuits and in
lustry. for gain Or profit.
Tenth. All other personal property.
Eleventh. The amount of income
derived from United States bonds
md all other stocks, and bonds not
,axed dd rdloreGp.
SEC. s. Be it further enacted. That
10 tax shall hereafter be assessed upon
he capital of any bank or banking as
,ociation. or of any other joint stock
company. organized under the authori-
= of the United States, but the stock
holders in such banks. or banking as
;ociations, or other corporations, shall
,e assessed and taxed on the value Of
heir shares in stocks therein; said
n kill bo includad in the