Maryland independent. [volume] (Port Tobacco, Md.) 1874-current, 1892-04-08
The Bill as Passed.

All interests. shares, or proportions Of
vessels owned by residents Of this Stare.
in all 7essels. whether Ia or oat of the
State, shall be assessed to the owners in
the County or CT Y where they reside -
+ Thi real estate Of all corporations shall
be subject to taxaiion All money. the
proceeds Of the sale of stock, bonds or
other property disposed Of for the nur-
pose Of eyading taxation; all shares of
stock, other than steam railroads: all
bonds issued by any State or District Of
Columbia, or by any corporation. all in
vcstments in private securieties Of every
kind; real prercrty; the personal proper
y of corporations not having shares of
e,pital stock. or having shares Of capital
sock wholly or in part exempted from
taxition; all certificates Of Indebtedness
or evidences of debt of any State, rerri-
tory, county or public corporation shall
be assessed aud taxed The real and
personal property Of every steam rail
road shall be taxed for county aud mu-
aicipal purposes, as the property of indi-
viduals is taxed, provided that bridges
of railroads aud turnp kes shall be asses
sed at the same rate that an equal nor
ton of any part Of the road is taxed -
Section 155 Of article 81 of the code, re-
latng 20 tunuels, is expressly repealed,
1nd tunnels are made taxable at their real
value. National bank stock and stock
Of other corporations is TO be valued by
the assessors a; the valuation put upon
them by the tax commissioner in 1892
and copy Of the assessment Of stocks is
to be sent to assessors by the tax com
missioners. Mortgage bonds of corpora
tons are taxed. the corporations issuing
them to pay the tax.
Property exempted from taxation is as
follows: Uni.ei States bonds, property
belonging to the United States, the State,
or any county. or incorporated city or
town; buildings used exclusively for pub
lie worship. parson iges graveyards, GEM
eteries, which are rot used for profit;
church or family burying grounds; crops
or produce, 10 hands Of producer, or his
agents; provisions aud fuel kept on hand
by families; tools, of mechanics; wearing
apparel. except watches, diamonds or
other costly jewelry, not habi;ually worn
on the person; fish, in the hands of the
fisherman or his agents; building, equip
ment and furniture, of hospitlls, asy-
lums, charitable or benevolent institu-
tons, and ground sppurtenant; incorpo-
rated schools; property OF corporations
having shares. which are alone subject
10 taxation; shares Of corporations ex-
empted by irrepeslable contract; shares
# stock of companies subject to
gross receipts tax; book accounts; bills
receivable or other evidence of debt
owned by merchants whose average stock
III tfade is taxed; such portions of shares
of homestead or building associations as
may he represented by mortgage on prop
erty within the State when the mortgaged
property is subject to taxation; mortgages
Oh property within the State and mort
gage debts secured thereby, except mort
gage bonds of corporation. The off
GERS ef corporations shall furrish County
commissioners or fhe Appeal Tax Court
statement of real properly owned for
va nation. aud certificates of such 7llul-
ton are furnished and used as at prese 1t
in a reduction of this amount from the
assessed value of the shares Of the cor
poratinn.
Telegraph, cable. telephone, electric
light, electric construction, gas, paror
car. oil pipe lines, express or transport
tation companies by land or water, title
insurance. safe deposit, trust guarantee
AMI Il lrllty companies are subject to a
State tax upon gross receipts, as railroads
SIRE, the slares of stock TO be snbiect to
county and municipal taxation
The gross receipts tax, which is des-
ignatcd franchise tax. is as follows
Eighteen hs Of per cent on the first;
$1,000 per mile Of gross earnings or Oh
total earnings if less than 81 0O0 per
mile; per cent on the exec IS of 81 900
DER mile up to $1,000, and per cent on
all earnings above 81, 900 per mile. The
franchise tax on the gross receipts Of tel
graph or cable, express or transportation
telephone, parlor car, sleeping car, safe
deposit, trust, guarantee and fidelity
companies is = per cent. On oil pipe
lines and title insurance companies | per
cent. One half Of per cent on electric
light, electric construction and gas COM
panies. Where railroad. pipe line,
telegraph. telephone, sleeping car or
transportation line is partly out of the
State the tax is to be upon such pro-
portion of the entire earning as the II lie
age in the State bears to that without
the State.
The State is divided into assessment
districts and The machinery is similar to
that employed in 1876. rhe assessors
are to be taxpayers and residents for at
least one year in the assessment district
from which they are appoi ed The per
diem of assessors in the counties is So SO
and in the city S.. Each BOARD of CON
troll and review can appoint clerk at
s. so day, and in b fillmore two clerks.
The tax commissioner is to prepare print
ID instructions and forms for the asses |
,ors. and also a complete form of sche-
iule of all kinds of personal property !
subject to taxation, to which he may add !
such interrogatories as he may deem
proper for the purpose of securing full |
disclosure of all such property. which
orms are to be delivered to the proper
fl etalr Tar d;str;hution m al a,t;.,,., ,.r
he State The assessors are to assem-
Die ot the court houses of the counties
Ind the City Hall in Baltimore on the
irst Tuesday in May, 1892, except ia
B ltimore county, where the beginning
Il work shall take place on the third
tuesday in June. Boards of control
nd review are TO begin on the second
tuesday in September.
The proper officer of corporations shall
n or before July |, 1892, return to the
Ountv commissioners or 4 meal T,Y