Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-05-04
senate Ell No. 30.

AN ACT to amend an act entitled an act declar-
Of tng lcsd for ia g se Isre
20, 1919: also to amend act entitled act to
amend an act ntitled an act declaring the mode
aud manner of valuing the property of a railroad
company for taxation, passed March co. 1879, and
70 adjust the rights Of the state and railroads in
Court holding that the eleventh section of said
y @ @ 40, as s ~ M, a.
act passed Goth March 1870 entitled an act TO de-
clare the mode and manner Of yaluing the prop
erty OF railroad companies for taxation, approved
April 5, 1881.
SECTION l. BE Il siac,ed by The 6esenai .4sseiabiy
Of me state Of Tennessee, That all the property
hereinafter termed distributsble property OF all
the railroad companies owning or operating nail
roads in this State. shall continue as heretofore to
be assessed for the purposes OF State, county and
municipal taxation by the railroad tax asses scr
And ali other property real personal and mixed
of said railroad hereinafter rmed localized prop
and municipal. by the county assessor and the as
SCISSORS of municipal corporations under whose
taxation Assessments OF railroad property shall
be made in the manner prescribed by this act and
amended acts have been declared unconstitutional
by the supreme Court.
railroad shall include all side tracks. switches,
bidges and trestles and the ties rails and asten-
ings and superstructure of every kind.
See. j. Be Il ft4tl.er enacted, That the roadbed,
rolling stock franchise, chose in action and per-
sOnal property of railroad company having no
actual sit shall be known as its prop
erty and shall be valued by said assessors separate
having ascertained the total vailie OF such dis
tributable property whe resoever situated. whether
within or without the State, and after having de-
Quoted from its value $780, they shall divide the
remainder by the number OF miles in the entire
length Of the road and the result shalt be the
value per mile of such distributable property of
such company for the purpose OF taxation. and the
value per mile of such disIributsble property so
ascertained shall be multiplied by the number OF
miles in the State, and the product thereof shall be
the sum to be taxed 10 such company upon such
dlstrbutable property for State purpose, and the
Value per mile as so ascertained shall be multi
piled by the number of miles or fractions thereof
In each county and incorporated city or town
through which the road passes, ana the products
shall be the sums to be taxed upon such distribu-
table property by said counties towns and cities
respectively
See. l. BE afurther enacted, That the depot build
ings, yards, grounds and other property real, per
sOnal and mixed. having actual sittfs shall be
known as the localized property of such railroad,
and shall be valued by the county assessors and
city asSesorsO of the several districts and wards in
which such property is situated, in the same man
ner and upon the same principles that govern the
assessment of similar property owned by indiyidu-
ais and IL shall be valued by said county
and city assessors in the respective counties,
towns and cities IN which it is located the State
shall be entitled TO a tax upon all such localized
property: the counties, towns and cities shall be
entitled to tax upon the value of all such local
lied propertyas is stuated within their respective
limits.
See. 5. Be further enacted, That the cash value