Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1882-05-19
I SENATE BILL NO. 20.

An Act to amend an act entitled an act de-
claring the mode and manner of yaluing
the property of railroad company for
taxation, passed March 30, 1875; also to
amend an act entitled an act to amend an
act entitled an act declaring the mode and
manner of valuing the property of rail-
road company for taxation, passed March
20, 1875, and to adjust the rights of the
State and railroads in Tennessee under
the decision of the Supreme Court, hold
ing that the 18th section of said act is I'M
constitutional, approved March 20, 1877;
also to amend an act entitled an act to
amend an act, passed March 20, 1875, en-
titled an act to declare the mode and
manner of valuing the property of rail
road companies for taxation, approved
April 5, 1881.
SEQ. /, Be it enacted by the General
Assembly of the State of Tennessee, that
all the property hereinafter termed dis
tributable property of all the railroad com
panies owning or operating railroads IN
this State, shall continue as heretofore to be
assessed for the purposes of State, county
and municipal taxation by the railroad tax
assessor for the State at large, appointed by
the Governor. And all other property, real,
personal and mixed of the said railroad,
hereinafter termed localized property, shall
be assessed for all taxes, State, county and
municipal, by the county assessor and the
assessors of municipal corporations under
whose charter they have the right to assess
property for taxation. Assessments of rail =
road property shall be made in the manner
prescribed by this act, and the acts amend
ed by it, except in SO far as the amended
acts have been declared unconstitutional by
the Supreme Court.
Sec. 2. Be it further enacted, That the
road bed of railroad shall include all side
tracks, switches, bridges and trestles and
the ties, rails and fastenipgs and super
structure of every kind.
SEQ. g. Be it further enacted, That the
road bed, rolling stock, franchise, chose in
action, and personal property of a railroad
company having no actual situs, shall be
known as its distributable property, and shall
be valued by said assessors separate from
the other property of the company, and af-
ter having ascertained the total value of
such distributable property wheresoever sit
uated, whether within or without the State,
and after having deducted from its value
one thousand dollars, they shall divide the
remainder by the number of miles in the en-
tire length of the road, and the result shall
be the value per mile of such distributable
property of such company for the purpose
of taxation, and the value per mile of such
distributable property as SO aseertained,
shall be multiplied by the number of miles
in the State, and the product thereof shall
be the sum to be taxed to such company
upon such distributable property for State
imposes; and the value per mile as SO as
certained shall be multiplied by the number
of miles or fraction thereof, in each county
and Incorporated city or town through
which the road passes, and the products
shall be the sums to be taxed upon such dis
tributable property by said counties, towns
and cities respectively.
Sec. T. Be it further enacted, That the
depot buildings, yards, grounds and other
property-real estate, personal and mixed
having an actual situs, shall be known as
the localized property of such railroad, and
shall be valued by the county assessors and
city assessors of the several districts and
wards in which such property is situated, in
the same manner and upon the same prin-
| ciples that govern the assessment of sim
| liar property owned by individuals, and it
shall be valued by said county assessors and
city assessors in the respective counties,
| towns and cities in which it is located. The
| State shall be entitled to tax upon all such
localized property, the counties, towns and
cities shall be entitled to a tax upon the
value of all such localized property as is sit
uated within their respective limits.
Sec. 5. Be it further enacted, That the
cash value of the individual shares shall moi
be deducted from any of said valuation, MOI
shall any railroad company have any ex
emption, except one thousand dollars, it be
ing the exemption allowed to the other tax
payers of the State.
SEC g. Be it further enacted, That al
valuations or assessments which may have
been made by county, district or road as
SCISSORS for the year 1882, shall be super
ceded by the assessment herein provided
for, and the chairmen or judges of the sew
eral County Courts shall cause the localized
property to be assessed by the district ant
ward assessors appointed for the presen
year or others appointed by the chairman
or judge in place of any where vacancies
have occurred. And in case in which
there shall be failure to assess such prop
erty under this act, it shall be assessed b.
the trustee or tax collector, as in other case
of omission. Assessments to be made b,
the county assessors under this act, shall b.
made by the assessor and acted on by tn
board of equalization by the first Monda,
in June, 1882, or as soon thereafter a
practicable.
SEC. Z. Be it further enacted, That
shall be the duty of the Clerk of tn
County Court of each county wherein tn
assessors of any district or ward shall hav
made assessments of any localized propert
of any railroad company as hereinbefor
provided, to make out and forward to tn
Comptroller, on or before the LIST day o
May in each year, full and complet
schedule and list of such localized prop
erty as assessed by such district or ward as
SCISSORS and these lists and schedules sha
be submitted by the Comptroller to til
State board of railroad tax assessors for th
State at large, together with the report
filed by the railroad companies.
SEC. s. Be it further enacted, That thi
act shall take effect from and after its pas
sage, the public welfare requiring it.
Passed April 26, 1882.
GEO. H. MORGAN,
Speaker of the Senat
H. b. RAMSEY,
Speaker of the House of Representative
: Approved April 20, 1882.
, ALVIN HAWKINS, Governor
I, D. A. Num-, Secretary of State of Tel
, nessee, do certify that the above is tru
copy of an act of the General Ass smby
the State of Tennessee, passed at the E
!, traordinary Session of 1882.
d NTyNg Secretary of State