Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1881-02-14
THE NEW TAX LAWS.


to the Act of the last Legislature, Ito
equalize taxation talk about the
matter may be of some use to our readers.
The act provides in Sec. l, that all prop
erty shall be set in the list at one per |
cent. of its value in money on the first
day of April in the year when the list
is made. The lister is to appralse the
property at such price as he would
consider it worth in the payment of |
debts-not at an auction sale. Taxable |
property consists of two classes; real
and personal Real estate, by the ex-
press terms of the statute, means call
lands within the state and all buildings
thereon, all timber growing thereon, and
all mines, minerals, quarries and fossils
under the same" The term personal
as applied to property means ''all goods,
chattels, moneys and effects of every
description; all debts due from solvent
debtors, whether on account, note, con-
tract, bond, mortgage, or other security;
all moneys loaned. all debts secured on
real or personal porperty; all stock in
moneyed or other corporations whether
incorporated or not; perpetual or re-
deemable leases upon which rent is re-
served, and stock IN any corporation
in another state, except where that cor
poratiOn pays all taxes on its stock"
The following property is exempt from
taxation by the laws of this State and of
the United States: All real or personal
property owned by this State or by the
United States; all real and personal
estate granted and used for public, pious,
or charitable purposes; all stocks, bonds
and other securities of the United States
household furniture, not exceeding $500;
all wearing apparel, libraries. farmers
and mechanics tools, and such provis-
ions as shall be necessary for the use of
the family one year; all animals which
have not been wintered one year, includ-
ing fowls, and all lands leased to the
towns for educational or religious pur-
poses. The General Statutes, Chap. SO,
Sec. 4, diining personal property, and
enumerating the various classes of this
property, as all goods, chattels, moneys,
etc, has the following clause under
which personal property is exempt from
taxation, "over and above debts due and
owing from the person listed" The
Interpretation of this clause is, that
when "the person listed" is owing debts,
these debts shall cancel his obligation
to pay taxes on a like sum of personal
property. In common parlance the per-
sonal property is "sworn off. P" The new
law does not change the old law in re-
gard to what is called personal, and real
estate, nor does it alter the provisions
for offset on personal property where
debts are owing from the person listed.
The new law provides that blank in
ventories shall be furnished each tax
payer, either by distribution by The
listers and town clerk at March meeting
or by application made to these officer
before March 20. Every person liabl,
to be taxed shall take these inventorie
and make out schedule of all BIZ
real and personal estate, including
stocks, bonds and other securities ex
empt from taxation. The blank inven
tories shall contain statement of al
debts actually due from the person list
ed, giving the amount, the name ant
residence of the person to whom tn
debts are owing, if he shall claim an,
deduction on account of his Indebtedness
Said inventories shall also contain tn
following oath, II, of d
solemnly swear (or affirm) that th
above is full, true and correct list an,
description of all my taxable property
both real and personal, and all propert
which should be set in the list to me
and that have set down only sue
debts as | am Internationally bound t
pay, to the amount of the deduction
claimed, that my answers to these il
terrogatories are correct, and that | hav
not conveyed of disposed of any proper
ty or estate in any manner, or create
any fictitious debt for the purpose
evadlug the provisions of the law, c
affecting the value or amount of my ta1
able estate, so hel p me God" Th
blank prepared by the secretary of stat
contains twenty-one questions, whic
are supposed to be made out accordir
to the letter and the spirit of the la,
A clause in the new law is as follows
"And from any deduction allowed |
listers on account of debts there sha
be deducted the amount of United Stat
Government bonds and other non ia
able securities owned by the tax-pay
claiming such deduction, and all DEB
due him from solvent debtors" Hent
no person holding non-taxable bono
can escape taxation on his personal pre-
erty, on account of debts he owes, U
less they exceed the amount of his bon
By the new law all real estate sh
be appraised and set in the list in lSS