Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1881-04-23
The Assessment Law.

We republish the following eX.
tract from the new assessment law,
being that part relating more par
ticularly to the basis of assessment
by which the newly appointed as
SCISSORS are to be governed in their
general assessments. We have not
space to publish the entire act:
SEC. 4. Be it further 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 day of January of the year for
which the assessment Is made, if
known; if not, then to unknown
owners.
Second-To assess real property
at its market value, on credit of
one and two years, deducting ten
per cent. in gross,
Third-TO assess personal proper
ty at the same value at which it
ought to be appraised in payment
of Just debt, in cash, from a sol
vent 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
sessment; but all stock in banks,
banking associations, or other cor
porations, or joint stock companies,
Shall be assessed in the place, town,
ward or district, in which such
banks, banking associations or
other corporations are located.
SEC. 5. Be it further enacted, that
in assessing real estate, the follow
ing shall be shown:
First-The description of the
property.
Second-The name of owner or
owners.
Third-The value of the land, or
town lots, including improvements.
FOurth-The value Of mills, man
ufactOries, distilleries, breweries,
founderies and other buildings used
for similar purposes.
SEC. 6. Be it further enacted, that
the said assessors shall assess real
estate in the manner following:
They shall prepare complete list
of all taxable real estate in their
respective districts or wards, from
the schedules hereinafter required,
giving the name of each owner in
alphabetical order, and setting out
the number of acres of each tract,
and the assessed value thereof, Civ
ing (if the same can be done) the
surveyors, district, range, township
and section, civil district and if
this cannot be done, then such
mode of description shall be adopt
ed as will identify the property and
its location by giving the lands by
which the tract is bounded and il
the said real estate be in town,
the present number of the lot and
the number of front feet, and the
depth thereof, and the assessed
value thereof.
SEC. 7. Be it further enacted, that
personal property shall be assessed |
under the following heads:
First-The actual stock in each |
bank or banking, insurance or other |
stock company corporation invested |
in business.
Second-Stocks Of merchandise,
wares, goods and chattels kept on
hand, or in store, for sale, trade or
traiic.
Third-Merchandise, wares and
goods, and chattels, sold at auction
or on commission.
Fourth--Notes, due bills, negotia-
BILE paper and accounts on solvent |
persons, or parties believed to be |
solvent, and all other assets, includ- |
ing cash on hand, or on deposit in |
this state or elsewhere.
Fifth-All bonds, stocks and |
other like securities, other than
such as are exempt from taxation
by the laws of the United States or
of this state.
Sixth-Stallions, mares, geldings,
jacks, jennets, cattle, sheep and
hogs.
Seventh-W Watches, plate jewelry,
pianos and household and kitchen
Eighth-Carriages. buggies, and
all other wheeled vehicles of pleas
ure or profit.
Ninth-Machinery, engines, pres
ses, looms, steamboats,, ferry-boats,
and tools and implements of all
pursuits and industry for grain or
profit.
Tenth-All other personal prop
erty.
Eleventh-The amount of income
derived foom u. S. bonds and all
stocks and bonds not taxed al UaLo-
rem.