Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1873-06-11
Circular from the Comptroller.

From Comptroller Burch's circular we
extract the following:
TO the Tar assessors and Tar Payers Of
the State:
After consultation with the Attorney
General upon all doubtful points presented
to me in the construction of the assessment
law, submit the following for the instruc-
ton of the Tax Assessors, and information
of the tax payers of the State:
l. 1t is not necessary for the Assessors to
furnish schedule to, and require return
from those citizens who have no real es
tate, and not over thousand dollars
worth of personal property.
.. Property is to be assessed to the party
who owned. or claimed to own, it on the
10th day of January. Amy change of prop
erty or ownership since that time does not
8. If religious, charllauIe, scientific,
literary or educational institution has more
than fifty thousand dollars worth of prop
erty, the excess in value is taxable, though
used for the purpose for which such insti-
tuition was created.
(. If an agricultural or mechanical asso-
citation owns real estate worth more than
ten thousand dollars, the excess in value is
taxable though used for agricultural or
mechanical purposes.
5. Any person entitled to an exemption,
must claim it in the district or ward where
he resides, or if it is a corporation, insti-
tuition, or association, where it is located.
6. All growing crops, of whatever ma
ture or kind, are exempt from taxation.
Z. Property must be assessed in the dis
trict or ward in which it lies at the time
Of assessment, except stock in banks,
S. If the description of real estate can
not be written out, as required by law, in
the blank form furnished by the Assessor,
then the tax payer can write it out on pa
per, and make it port of his schedule by
attaching it to the blank.
8. Under section 7, subsection /, of the
act, each bank or incorporated company
must report the amount of capital stock
paid in. Upon this amount the bank or
incorporated company is not taxable.
10. LOmitted in circular before us.-EDS.
CHRONICLE.
IL. The "other assets" mentioned in sub
section A of section Z, refer to "Other as
sets" of q like character to those montion-
ed in the same subsection, and not to
other assets mentioned in other sub-sec-
tons of the same section.
IL. All bonds, stocks and other like Sc
curities on persons or corporations located
in this State unless exempt by the laws of
the United States or this State have to be
returned for taxation ddyaiorem.
10. Mules are taxable and should be so
returned.
ii. In recurring JHe articles mentioned IN
the 18th and Sth sub-sections of section Z,
it is only necessary to give the aggregate
value of each item.
10. The items of personal property men
toned in the 10th head of the blank sched-
ule are so inserted for the convenience of
the tax payer
lG. Sections and 10 of the law where
they speak of banks or banking assOcia-
tions apply to bank corporations. Section
9 is applicable TO iRdiUiduuI bankers.
Stockholders in a bank or other joint stock
company, must report the number and
value OF their shares Of stock to the asses
sOr of the district or ward in which said
bank or joint stock company is located
and not elsewhere.
Il. Merchants pay their privilege tax to
the Clerk of the County Court. They also
return and pay their ddUuiOrom tax on
merchandise to the County Court Clerk.
They also return to the County Court Clerk
the amount and value of notes, due bills
etc, mentioned in subsection of section
:, after deductions hereinafter to be speci'
fed, which they own as merchants, and
pay the tax on these also TO the County
Court Clerk. 1t will be seen therefore thai
merchants make all their returns and pay
all their taxes as merchants TO the County
Court Clerk. AS individuals they return
to the Assessor and pay to the Collector.
Is. In assessing, under section %, notes
due bills, etc, therein mentioned, all boni
fide debts OF The tax payer incurred in con
| Quoting his regular business and pertaining
| 10 the same business out Of which arUst
! the notes, due bI -, etc, are TO be deducted