Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1884-06-19
LAWS OF NEW JERSEY.
[BY AUTHoR1FY:1
CHAPTER CT.

property
l. Be it enacted by the Senate and General
Assembly of the State of New Jersey. That
all the property of any railroad or canal COM
pany not used for railroad or canal purposes
shall be assessed and taxed BY the sar1e assess:
ors and int Same ifahneT, and at the same
Rate as tile taxable property Of other owners in
the same municipal division ortaxing district
all other property of any railroad ,r ea1al com.
pany shall be as-esSed and taxed as hereinafter
uirected; the tax imposed by this act shall be
in ! eu of all ether taxation upon the property
Subject to taxation under the provisions Of ibis
act; IN all cases where the real estate, tangi-
Bile personal property and franchise Of any
company are assessed and taxed Under this
bct, the shares of stock and the bonds and GER
tificates OF indebtedness Of such company shall
not be taxed in the hands oil the shareholders,
bondholders creditors, except as hereinafter
provided
2. And be it enacted, That all property Of
any raj road and Of any canal company usedftr T
railroad or canal purposes sh.dl be assessed by
d state board of assessors, which shall ebn=
stst OF fout nembeFs and shall be appointed BY
the governor, by and with the advice and con-
sent of The senate; not more than two shall be
members the same political party; and no
person shall be quail fed or authorized to act as
a member of Said Hoafd unless his appoint-
ment shall have BEEN confirmed BY the senate,
their term OF Office shall commence on the first
Monday of May; the as essors first appointed
shall be appointed TO hold office respec-
lively for one, two, three and four years,
and until the appointment of a successor:
all subsequent appointments shall be for d
term OF four years and until the appointment
of successor; vacancies shall be fiji ed by the
governor, sni ect to the approval Of the seftate;
the said assessors shall be citizens OF this state
and shall not during their term Of office, be in
4
asse SHALL before entering on his duties, file
with the Secretary Of state an oath taken before
Justice of the supreme court that he will faith
fully discharge the duties of his Office and that
he Is not interested in any railroad or canal
company; they shall each eceiye an annual
salary OF twenty-five hundred dollars; three
members shall constitute a quorum. and any
official act shah be valid which has the sanction
OF three members; they may employ secre-
tRfy who shall receive ouch yearly compensation
as the board of assessors IN y determine, not to
exceed one thousand dollars; they shall keep
record Of their proceedings, and shall annually
report TO the Legislature; the office of railroad
commissioner is hereby abolished.
3. And be it enacted, Tha' it shall be the
duty OF the board OF assessors to meet at Tren-
ton on the first Tues ay Of May in the pre- ent
and each succeeding year, and as often during
each year and ut such pl ces as their duties
the true value Of all property used for railroad
OF canal purposes of eich railroad and of each
canal company in this state, incl ding its
franchises, and they sh,ll, in such ascertain
ment, ascertain separately:
|. The length ard value of the main stem of
each railroad, and Of the wa er-way Of each
canal, and thu length of such man stem and
waterway in each taxing district;
III. The value of the other real estate used
for ry-afr
district in this ate including the road-bed,
(other than main stem), waterways, reservoirs,
lrac s, buildings, water-tanks, water-works,
riparian lights, do ks, wharyes and pier, and
all other real es ate. except lands not used for
railroad or cana purposes;
III. The vrue OF all the tang bic personal
property Of each railroad and OF each canal
eompanyl
". The value of the franchise.
The term "main stem" Of each railroad and
Of each canal company, rs us d in this act shall
be held to include the road-bed, not exceeding
one hundred feet in widlh with its Ais and
sleepers, depot buildings used for passengers
connected herewith; the term waterway"
shall be held to include the towing-pa and
berme-bank; The term taking district" shall
be held to designate any municipality, city,
township borough, incorp rated .own or vii
la having power to assess and levy taxes,
through which any road or canal may run; the
term ''tangIble personal property" shall be
held to include the rolling stock, cars, locomo-
hves, ferry-boats, all machinery, tools and
otner tangible personal property ofany railroad
company, and the floating, movable and other
tangible fersonal property of any canal COM
pany, and also the locomotives and cars mt
belonging to such railroad company but built
for its use and actually used in this state or
run under its control in this state by a Sleep
ing-car company or other company; but the
rolling stock OF other persons or corporations
temporarily used on any such road, and the
floating or nova le property temporarily used
on such nal but not forming part of the
equipment Of such road or canal, shall not be
included in said term.
4. And be it enacted, That if the assessed
value of the real estate of persons other than
railroad or canal corporatioEs in any taxing
district wherein such railroad or canal property
may be found, as ascertaned by the assessors
of such taxing district, is relatively lower than
that which has been laid upon the land of the
several c mpanies in said taxing district, the
said board shall be required TO accept said valu-
alton Of the assess rs Of such taxing district as
a correct standard of value and to thereby cor
rect or reduce the separate valuation provided
for in the second subdivision Of section three of
this bill.
5. And be it enacted, That it shall be the
duty of the assessors in all taxing districts
where property of any railroad or canal COM
pany not used for railroad or canal purposes
shall be assessed, to Gritty and to send to the
state board OF assessors on or before the second
Monday Of June IN each year, a statement Civ
ing the description Of such property and show
ing the assessed valuation thereof; the local
assessors shall also at the same time certify
and send to the state board of assessors short
description Of all the real property in their re-
specuve taxing districts, used or owned for
81.
stem or road bed and track not exceeding one
hundred feet in width of each railroad, and the
wafer way, towlng-path and befmebank not
exceeding one hundred ieet in width of each
canal; the said assessors shall also certify to
the said board the local rate of taxation for
county and municipal purposes, as soon as the
same shall be determined, and such other in
formation obtained in the course of the per
formaDce of the duties of their office, as the
said board shall lequire of them, and for the
service mentioned in this section the said local
assessors shall receive three dollars per day for
each day actually engaged in such service, to
be paid on the warrant of the comptroller on an
affidavit Of such service being filed in the office
of said cnmptroller.
6. And be it enacted, That whenever in any
taxing dis riot there shall be sevefnl branch
lines OF railroad belonging to or controlled by
one company or opernted under one manage
ment, the assessors shall designate one of said
lines as the MAN stem. and the value of the
others shall be included in the separate valua-
tior provided for in the second subdivision Of
section three tfthis bill.
Z. And be it enacted, That on the first
Monday Of July the board shall meet at the
state house in IRenton, and shall give a hear
irg to all companies interested, touching the
valuation and assessment Of their property: the
board may adjourn from day 10 day, and may,
If they see fit, require all arguments and COM
municatons to be presented in writing, when
the first Monday OF July shall fall on the fourth
or fifth day of that month, the day of meeting
shall be on the first Tuesday of July; all par
ties interested shall take notice of this hearing
8. And be it enacted, That when any rail-
road or canal company has part Of its main
stem or water way in this state and part
thereI In another state or states, the said
board shall estimate separately the entire
value ofthe franchise. the main stem. the water
way and the tangible personal property OF the