Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1892-04-08
The Assessment Bill.
The following is summary of the assess
ment bill as it was passed:

The following is a summary Of the assess
nent bill as it was passed;
= All interests, shares, or proportions of
vessels owned by residents Of this State, In
all vessels, whether in or out of the State,
shall be assessed to the owners in the county
or city where they reside The real estate
OF all corporations shall be subject to taxa.
ton. All money, the proceeds of the sale of
stock, bonds or other property disposed of
for the purpose OF evading taxation; all
shares OF stock, other than steam railroads;
all bonds issued by any State or District Of
Columbia, or by any cooperation, all invest
ments in private securities OF every kind !;
real property; the personal property of cor
poratlons not having shares OF capital stock,
or having shares of capital stock wholly or
in part exempted from taxation all certii-
Gates of Indebtedness or evidences of debt Of
any State, Territory, county or public cor
poration shall be assessed and taxed. The
real and personal property Of every steam
railroad shall be taxed for county and mu
nicipal purposes, as the property of indi-
vlduals is taxed, provided that bridges Of
railroads and lurnpikes shall be assessed at
the same rate that an equal portion of any
other part of the road is taxed. Section 1856
Of article 81 of the code, relating to tunnels,
is expressly repealed, and tunnels are made
taxable at their real value. National bank
stock and stock of other corporations is to
| be valued by the assessors ut the valuation
| put upon them by the tax commissioner in
1899 aud q copy of the assessment oil stocks
is 10 be sent To assessors by the tax commits
sioners. Mortgage bonds oil corporations
are taxed, the corporations issuing them to
pay the tax according to section 81, article
81, of the code.
PROPERTY EXEMPTED.
Property exempted from taxation is as
follows: United States bonds, property be-
longing to the United States, the State, or
any county, or incorporated city or town /;
buildings used exclusively Tor public wor-
ship, parsonages, grave yards, cemeteries,
which are not used for profit; church or
family burying grounds; crops or produce,
in the hands of producer, or his agents
provisions and fuel kept on hand by tami-
lies; tools, of mechanics wearing apparel
except watches, diamonds or other costly
jewery, not habitually wOrn on the person
fish, in the hands of the fisherman or his
agents; building, equipment and furniture
Of hospitals, asyums, charitable or benevo.
lent institutions, and ground appurtenant;
incorporated schools; property Of corpora.
tons having shares, which are alone subject
to taxation shares ol corporations exempted
by irrepealable contract; shares OF stock of
companies subject to gross receipts tax
book accounts; bills receivable or ether
evidence OF debt owned by mere hants whose
average stock in trade is taxed such por-
tiep OF shares of homestead or building as
seciatons as may be represented by mort
gage on property within the State when the
mortgaged property is subject to taxation
mortgages on property within the State and
mortgage debts secured thereby, except
mortgage bonds Of u corporation. The
officers Of corporations shall furnish county
commissioners or the Appeal Tax Court "a
statement OF real property owned for valu
alton, and certificates Of such valuation are
furnished and used as at present ia reduc
ton OF this amount from the assessed value
OF the shares Of the corporation.
an GROSS REoEIrTs TAX.
Telegraph, cable, telephone, electric light,
electric construction, gas, parlor car, oil
pipe line, express or transp0rtien companies
by land or water, title insurance, safe de
post, trust, guarantee and fidelity compa.
MES are subject to a State tax upon gross
receipts, AS railroads are, the shares OF stock
to be subject TO county and municipal taxa
ton.
The gross receipts tax, which is desig
|
tentbs of per cent. on the first 81 900 per
mile Of gross earnings or on total earnings il
less than $1,000 per mile II per cent on
the excess oil $1,000 per mile up to $4,000,
and per cent on all earnings above $4,000
per mile. The franchise tax on the gross
receipts of telegraph or cable, express or
transportation, telephone, parlor car, sleep
ing Car, safe deposit trust, guarantee and
fidelity companies is 2 per cent. On oil pipe
lines and title surance companies per cent.
One hall of | per cent on electric light
electric construction and gas companies.
Where a railroad, pipe line, telegraph, tele.
phone, sleeping car or transportation line is
partly out of the State the tax is To be upon
such proportion Of the entire earning AS
the mileage in the State bears to that with
out the State.
ASSESSMENT MACHINERY
The State is divided into assessment dis
tricts and the machinery is similar TO that
employed in 1876. The assessors are 10 be
taxpayers and residents for at least one year
in the assessment district from which they
are appointed. The per diem of assessors
in the counties is SO so and 10 the city &c.
Each board OF control and review can ap-
point a clerk at $3.50 a day, and in Balti-
more two clerks. The tax commissioner Is
|
for the assessors and also complete form OF
schedule Of all kinds OF personal property
subject 10 taxatisn TO which he may add
such interrogatories as he may deem
proper for the purpose Of securing full dis
closure of all such property, which forms
are to be delivered To the proper officials for
distribution to all the citizens Of the State
The assessors are 10 assemble at the court
houses Of the counties and city hall in Bal
timore on the first Tuesday in May, 1892,
except in Baltimore county, where the be-
ginning of work shall take place on the
third Tuesday in June. Boards of control
and review are TO begin on the second Tues
day in September.
The nroner ofIcer of corporatjons shall
nm mr. hefcre .IuIv 1892 roturn 10 The
Countv Commssioners or Anneal Tax Court
nnder oa,h and penalties a ia Of his stock
hnlders with their holdings The assessors
are IN deliver. or send by mail. to each persian
. | In tnBlf nlSLTlctS VINO snhll own property NJ