The Douglas independent. [volume] (Roseburg, Or.) 187?-1885, 1883-06-16
THE MoRTGAGE tax LAW

tAVA "a lay s0DaO 10A sAtS SuAN1AhS0 "a
the Clerk, the mortgage tax law, as
passed by the last Legislature, for the
two-fOld purpose Of showing that the
law is just and calling the attention of
all persons owning mortgages or the
land upon which they are .leld, of hav--
ing all credits or payments endorsed
upon the margin Of the mcrtgsge
record prior to the first day Of August:
AN ACT to define the terms Land " and
Real Property. for the purpose of Tax
alton, and to Provide where the same shall
bc assessed and taxed, and to declare what
instruments whereby Land or Real Prop
erty is made security for the payment of
. Debt, shall be void, aud to repeal Sec
tions 2 and 7, OF Chapter 81, of the Aliscel-
laneous Laws of Oregon.
Be it Enacted by the Legislative Assembly Of the
State OF Oregon:
SECTION ]. The terms "real proper
ty" and "land," wherever used in this
Act or in any other of the laws of Or
egon, shall, for the purpose of assess
ment and taxation, be held to mean
and include not only the land itself,
whether laid out in town lots or other
wise, with all things contained therein,
but also all buildings, structures, i'm
prosements, trees, and other fixtures of
whatever kind thereon, and all sights
lsites) and privileges belonging or in
any wise appertalning thereto. And
mortgage, deed of trust, contract, or
other obligation whereby land or real
property situated in no more than one
county in this State, is made security
fer the payment of debt, together
with such debt, shall, for the purposes
of assessment and taxation, be deemed
and treated as land or real property.
SEC. 2. All land shall be assessed
and taxed in the county where the
same shall lie, and every person shall
be assessed in the county where he re-
> des when the assessment IS made for
all real and personal property then
ownsd by him within such county; and
unoccupied land, if the owner is un-
known, may be assessed as such with
out inserting the name of any owner,
and mortgage, deed of trust, contract,
Or other obligation whereby land or
real property situated in no more than
one county in this Sta,e is made secu-
rity for the payment of a debt, together
with such debt, shall be assessed and
Taxed to the owner of such security and
debt in the county, city or district in
which the land or real property affected
by such security is situated. The taxes
So assessed and levied OH such security
and debt shall be lien thereon, and
the debt, together with the security,
may be sold for the payment of any
taxes due thereon, in the same manner
and with like effect that real property
or land is sold for the payment of taxes
SEC. 3. The owner Of n mortgage,
deed Of trust, contract or other obliga-
tion whereby land or real property, sit
uated in but one county In this State,
is made security for the payment of a
debt, and also the debt so secured, shall,
for the purpose of assessment and taxa.
ton, be deemed to be the person or
persons TO whom the--sscurity was Civ
!en in the first instance, unless it ap-
pears on the record of the security that
s0ne other person is the owner; and
sll assignments or transfers of q debt
secured IS mentioDed In this Act shall,
for the purposes of assessment and tax
alton, be null and void, unless such
transfer O.. assignment is made in writ
'ng upon the margin of the record OF
the security, and the name of the per-
son to whom such debt is assigned or
transferred given; and in all cases such
debt and security shall be assessed and
taxed to the person or persons who ap-
pear on the record of such security to
be owner er owners thereof. All mort
cages, deeds OF trust, contracts, or 9th
Or obligations hereafter executed.
whereby land situated in more than
one county in this State is made secu-
rity for the payment of debt, shall be
void.
SEC. 4. For the purposes of assess
rnent and taxation ne payment on anv
debt secured as hereinbefore mentioned
in this Act shall hereafter be taken in
TO consideration by any Assessor in this
State, when assessing such debt and Sc
curity as herein provided, unless such
payment Is endorsed in writing on the
margin Of the record of such security
by the owusr thereof, er his authorized
agent, before the delivery by tie Coun-
ty Cierk to the Assessor of the abstract
of securities hereinafter provided for.
And In all cases the Assessor shall as
seas such debt and security for the full
amount OF such debt, that appears from
the record Of such security to be owing,
unless In the Judgment of the Assessor
the land or real property by which such
debt Is secured is not worth as many
dellars as still appears udpaid of such
debt, and then, in that case he shall as
sess such debt and security at whatever
gam he thinks to be their real cash
value.
SEC. 5. 1t is hereby made the duty
of each County Clerk in this State te
deliver on the first day of August ol
each year to the Assessor of his county
an abstract of all unsatlsfed instru
msnts of writing on record in his office
whereby land or real property situated
In his county alone is made security fol
the payment of any debt. Such alb