The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1882-02-17
The Proposed Tax Law.

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purpose of taxation, the old law included all
goods, chattels, moneys, credits, and effects,
wheresoeyer they may be. The new bill ex
cepts property actually and permanently in
vested in business in another state.
Ia exemptions the old law limited the
value OF musical instruments to S10o, the
new bill exempts to the amount of $50.
In computing the taxable property of in
surance companies organized under the laws
of this state, the new bill says the value ON
which company pays taxes shall be de-
Quoted from its net assets above liabilities, as
determined and shown by the report of the
commissioner OF insurance, and the remain
der shall be the amount of personal property
for which the company shall be assessed.
The old law provided that personal proper
ty, where no other provision is made, shall
be assessed 30 the owner in the township
where he shall DO an inhabitant on the sec
ond Monday of May.
The new bill provides Tor assessing it III
the place where the owner shall reside ON
the second Monday of April. The new bill
also provides that all animals kept through
out the year in some town other than where
the owner resides shall bo assessed to such
owners or the person IN possession in the
town where kept. The words III italics are
changes from the old law.
The present law provides that the taxpayer
may deduct from his statement of taxable
property moneys upon which he pays inter
est providing ne desires to have them de
Quoted from his moneys and credits. The
new bill does not limit the deduction for in
debte(lness to moneys upon which interest is
paid.
The old law requires the cashier of State
or National bank when called upon, to make
q statement setting forth the NAMES and resi-
dences OF I'll parties owning stock in such
bank, and the number and amount of such
shares owned by each of said parties. The
new bill provides that such statement shall
DO made bv the cashier on the second Mon
dcy Of april, and by him fled in the office
Of the clerk of tie county where the bank is
located. 1t then becomes the duty Of the
county clerk to notify the supervisor Of each
township Of the name of each person, if any.
residing IL his township holding stock in
such bank, end of the amount thereof.
Tho new bill provides for ne,S form of
statement of taxable property intended TO bo
more complete and comprehensive than tllat
now IN use undcr sec. 10, OF the old law
Sec. rs of the new bill details the methods
by which real estate may be described, and
provides that IL case Of lands plated as a
town, city or village, or addition thereto. the
same may he described by reference To- such
plat and the number of lots and blocks
thereof, whether such plat be recorded or
not. The old law limited the assessment
according TO unrecordod. plats to cases where
ono or moro lots have been sold from the
plat. The present law provides that on the
third Monday of May, and the two following
days, each supervisor shall be present at bis
Office for the purpose of reviewing his assess
nlent and making, on sufficient cause being
shown, such changes in valuation as will
cause the assessment roll to appear to him
just and equal.
Sec. Is of the new bill provides that the
township board shall 10 board OF review, a
majority to constitute n quorum and the
majority of those present 10 decide all quUs-
tions. This boaSd il required TO meet on
the Tuesday following the fourth Monday of
May at the Office Of tho supervisor, at which
time the supervisor shall submit to the
board the assessment roll for the current
year, as prepared 10y him. The board shall
thon review it and during that week, on its
own motion shall add names Of persons,
value of personal, and description ard value
OF real property Liable to assessment, but
omitted from the roll 10y the supervisor
They shall correct errors as TO the names OF
persons, descriptions Of property and yalua-
tions, and shall cause to be done whatever
may be necessary to make the roll comply
with the law. The board shall also pass up
on each valuation and enter the valuation as
fixed 10y it in q separate column. II for any
cause the board does not assemble during
tho week, the roll as prepared 10y the super.
visor shall stand approved 10y the board.
Sec 10 provides that the board Of rovloU
shall have second meeting on the Monday
next succeeding the fourth Monday in May
TO complete the review. The daily sessions
arc required to be of at least six hours each
and any person may appear 10y himself OF
agent to show cause why valuations should
DO changed, tho statement to be made under
oath If required. After the review is com
pleted tho supervisor and town clerk arc nc
quired to endorse thereon and sign y state
ment 70 the effect that same IS tho "a
sessment as approved by tho board of review.
After being 40 Endorsed the roll shall be con-