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

az Interests, shares, or proportions OF
vessels owned by residents Of this Sta.e.
IN all 7essels, whether IN ~ ont Of the
state, shall be assessed to the owners in
the courty or ei y where they reside -
lh. real estate If all corporations shall
be subject to taxation An money. the
proceeds Of the sale Of stock bonds OF
other property disposed Of for the pur-
pose OF evading taxation; an shl Of
stock. other than steam railroads: all
bombs issued by any State or District Of
Columbia, or by any corporation. all IN
veStmcnts IN private securieries Of every
Kind; real property; the personal prope--
y OF corporations not having shares Of
capital stock. or having shares Of cspit4l
stock wholly or in part exempted from
tsxlton; all certificates Of Indebtedness
Or evidences Of debt Of any State, Terri
tory, county or public corporation shall
be assessed aud taxed TIE real and
persona property Of every steam RAD.
road shall be taxed for county aud mu-
aicipal purposes. as the property Of ndi-
vlduals Is taxed, provided that bridges
Of railroads aud turnp kes shall be asses
sed at the same rate that an equal uor-
ton Of any part Of the road is taxed -
Section l55 Of article 81 Of the code, re-
lahng 20 tunnels, is expressly repealed,
tnd 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
missioncr4 Mortgage bonds Of corpora
tons are taxed, the corporations issuing
them to pay the tax.
Property exempted from taxation is as
follows: Unite 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 parsen ges grayeyards, Gem
eteries. which are not used for profit;
church or family burying grounds; crops
or produce, in hands of producer, or his
agents; provisions and fuel kept on hand
by families; tools, of mechanics; wearing
apparel except watches, diamonds or
other costly jcwelry, not habi;ually worn
on the person; fish, in the hands of the
fisherman or hi3 agents; building, equip
ment and furniture, of hospitllS, asy-
lutns, charitable or benevolent institu-
tons, and ground sppurtenant; incorpo-
rated schools; property Of corporations
having shares, Which are alone subject
TO taxation; shares Of corporations ex-
cmpted by irrepealablo 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
IN ttade is taxed; such portions Of shares
Of homestead or building associations as
may be represented by mortgage on prop
cry within the State when the mortgaged
property is subject to taxation; mortgages
Oh property within the State aud mort
gage debts secured thereby, except mort
gage bonds of a corporation. The Off
GERS IL corporations shall fusnssh county
commissioners or the Appeal Tax Cour'
i statement Of real property owned foI
va nation. aud certificates of such 7llul.
ton are furnished and used as at prese II
in reduction Of this amount from The
assessed value Of the shares Of the cor
poratior.
Telegraph. cable, telephone. electric
light, electric construction, gas, parloi
car. oil pipe lines. express or transp2r-
tatiou companies by land or water. titl'
insurance, safe deposit, trust guaranteed
anI Il lrlity companies are subject to {
State tax upon gross receipts, a. railroads
are, the slarcs Of stock TO be snbjcct Il
county and municipal taxation.
The gross receipts tax, which is des
gnatcd franchise tax. is as follows: =
Eighteen hs Of per cent on the first
81 900 per mile Of gross earnings or OF
total earnings if less than 81 900 pei
nile; per cent on the exec $ of Sl,00t
Ger mile up to s. 1000, and ; per cent OF
AL earnings above S. 900 per mile. Tn,
franchise lax on the gross receipts Of tel
graph or cable, express or transportation
telephone, parlor car, sleeping car, saf,
deposit. trust, guarantee and fidelity
companies is , per cent. On OIL pip,
lines and title insurance companies I ps,'
cent Que half Of | per cent on electric
light, electric construction and gas com
panies. Where railroad. pipe line
telegraph telephone, sleeping car o.
transportation line is partly out Of thu
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 yithou
the State
The St,te is divided into assessment
districts and the machinery is similar t.
that employed in 1876. The assessors
are to be taxpayers and residents for a
least one year in the assessment distric
from which they are appol } ed The pc
diem Of assessors in the counties is So 81
and in the city S.. Each BOARD of con
troll and review can appoint a clerk a
81 so day, and in b llrmore tive clerks
The tax commissioner is to prepare print
I'd instructions and forms for the asses
sors, and also complete form Of sche
dule Of all kinds of personal propsrt,
subject to taxation, to which be may ad,
such n,errogatories as he may deem
proper for the purpose of securing a full
disclosure Of all such property, which
forms are to be delivered to the prope
officials for distribution to all citizens o
! the State. The assessors are to assem-
BILE ut the court houses of the countie
and the City Hall ia Baltimore on tn
first Tuesday in May, 1892, except il
B ltimore county, where the begnnin,
: of work shall take place on the thir,
. Tuesday in June Boards Of contro
aud review are 10 begin on the secon,
Tuesday in September.
rhe proper officer Of corporations shall
oa or before July /, 1892, return to tn