Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1878-05-03
fCHAPTER l7s.
REVENUE md TAXES.
AN ACT

AN ACT
To add additional Sections to Article eighty
one, of the Code of Public General Laws,
entitled "Reyenue and Taxes" and to repeal
all laws inconsistent with the provisions Of
said Sections.
Sec. L. Be it enacted by the General A ssem-
bly, of Maryland, That additional Sections be,
and the same are hereby added to Article eigh-
ty-one of the Code of Public General Laws, en-
titled "Revenue and Taxes, :" TO read as follows;
Sec. l49. There shall be in the Treasury De-
partment, a Tax Commissioner of the State of
Maryland, to be appointed by the Governor,
Comptroller and Treasurer, or majority OF
them, who shall take the oath prescribed by the
Constitution, and shall hold his office for four
years from the date of his qualification, and UNI
til the appointment and qualification OF his sue
cessor, and shall receive salary Of twenty-five
hundred dollars per annum, and such necessary
travelling expenses, (not exceeding eight hun
dred dollars in any one Year, as may be audi
ted by the Comptroller, who shall issue his
warrant for the payment of the same when al
lowed
| The State Tax Commissioner shall assess for
State purposes, the shares of capital stock in all
banks, State national, banking associations,
or other incorporated institutions or companies
incorporated under the authority Of this State,
or located and doing business therein, whose
shares of capital stock are liable to assessment,
ard taxation by the laws Of this State, and shall
have all the powers, and perform all the duties
| in reference thereto which have heretofore
devolved by law upon the Comptroller; he
shall report the assessment of such shares of the
capital stock to the Comptroller, and said assess
ment shall be subject to appeal and revision as
hereafter provided in this article. He shall re-
port the amount of the basis of assessment for
! State purposes in the several counties and city
| of Baltimore, with his suggestions in regard to
the same, to the General Assembly at each re-
| gular session thereof and shall perform such
other duties as may be prescribed by law.
| Section l50 The County Commissioners, and
! Appeal Tax Court, are directed annually TO cor
rect the assessment Of the property in their
respective counties and the city of Baltimore,
and TO alter and correct the valuation of any
| property which may have been improperly
valued, and TO assess the same at its true Value,
and TO alter and correct the account Of any per-
son whose property, or any part thereof, may
have been omitted in the former assessment, or
may have been since acquired and il real es-
tate or other property, shall from any cause
have increased or diminished largely and materi-
ally in value since the last levy, they shall
correct, alter and amend the assessment of the
same as aforesaid, so as 10 conform to its pre-
| sent value. They shsll also at any time, when
so directed by the State Tax Commissioner,
with the concurrence Of the Attorney General,
| (sgnifed by his opinion in writing correct
the assessment OF the property In the respective
counties, and in the city Of Baltimore, by strik
ing therefrom any property which they shall be
instructed by the said Tax Commissioner and
-ttorney General, is not subject to taxation I'M
der the laws of this State, or Of the United
! States
Section Isl. At the time of making the re-
! turns of stockholders TO the County Commits
sioners, and Appeal Tax Court as required by
law, the president or other proper officer Of
every bank or other incorporated institution,
shall furnish to the County Commissioners Of
each county in which such bank or other incor-
porated institution shall own, and possess any
real property, and 10 the Appeal Tax Court Of
Baltimore city, if such bank or other incorpora-
ted institution, shall own and possess any real
property in said city, n true statement of such
| real property situate or located in such county
Or city, and such real properly shall be valued
and assessed by said County Commissioners and
Appeal Tax Court respectively, TO the said bank
or incorporated institution so owning the same,
and said County Commissioners and Appeal
/ Tax Court shall give duplicate certificates Of
such valuation and assessment TO such president
or other officer, who shall transmit one Of such
duplicate certificates with his return TO the State
Tax Commissioner, and State, county or city
taxes shall be levied upon and paid by such
assessment IN the same manner as the same are
levied upon, aud paid by individual owners Of
real property in such county or city.
The State Tax Commissioner shall deduct the
assessed value Of such real property, according
10 the certificates so furnished TO him from said
County Commissioners, and Appeal Tax Court
from the aggregate value Of the shares Of capital
stock Of such bank or incorporated institution,
and when the valuation and assessment Of the
shares Of capital stock Of such bank or incor-
porated institution shall have been finally deter
mined and made for state purposes, the State
Tax Commissioner, shall certify 10 the County
Commissioners OF each county, where any Of the
stockholders may 10 reside, and 10 the Appeal
Tax Court Of Baltimore city, II any Of such
stockholders reside 10 said city, the assessed
value Of such shares Of stock after deducting
the assessed value Of such real property rs
Aforesaid the shares Of stock held 10 such bank
or incorporated institution owned by residents
Of this Slate shall for county Or municipal pur-
poses, be valued 10 the owners thereof in he
county Is pity where such max.uasm