The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1894-12-18
TAXATION OF SHIPPING.
State Assessors to Give Hearing on the
Subject Thursday.

The Board of State Assessors are to give
hearing to all interested in shipping on
tie subject of changing the valuation Oh
vessel property for taxation. The nearing
is. to be held at the room of the Assessors
at the State House, Thursday. Dec ~ al
10 A. NJ. Delegates have been appointed TO
attend this hearing from all the seaport
towns. We print. below the text OF the Dill
to be presented to the Legislature at the
coming session:
An act relating to taxation of vessel prop
erty. - ~, H. a.
duty of the Board of State Assessors, as Ok
ten as once in two years, commencing w, WIN
the first day of April, 1898, 10 aplish
uniform standard of valuation OF All en-
rolled and registered sailing vessels owned
wholly or in part by resinehts VI this sta1e
upon the following oasis:
ON or before the first day of April IN
every other year succeeding the year 1879
and in the 1893 it shall be the DUTY Oh salu
Board of State Assessors to inquire and de-
termine the -per cent. OF net income, not
charging cost of insurance and deprecla-
ton, earned by the average OF such vessels
during the two years preceding such valu,
alton and wherever such net income shall
DO determined by said board to be not less
than twenty per cent on valuation OF new
vessels at $50 per ton and of vessels OF
greater age at So per ton less for each add;
fionaI year of age, the valuation of SAID
vessels shall be fixed at $50 per ton for new
vessels and " less per ton for each - ad .an
years Of age for SUCH vessels shall De
reached, below which limit no vessel shall
be subject to taxation.
Whenever such net income shall be deter
mined by said Board TO be- not less than
fifteen per cent and not nIore than twenty
per cent. on the valuation aforesaid, the
valuation shall be liked at twenty-five per
cent. less than the above valuation for yes
sells within the limits of age aforesaid. put
the reductions of said valuation shall be
81 SO per ton for each year OF additional age
specified.
mined by said Board to be not less than ten
the valuation aforesaid, that valuation shall
be fixed at fifty per ceLt. less than the val
uation first above mentioned Tor vessels
that case the reduction of valuation of said
vessels shall be Sl.oo per ton for each year
of additional age of such vessels in place OF
$500 as first above specified.
mined by said Board to be less than ten
per cent. in said valuation, the valnatlon
shall be fixed at 66 a-S Fer cent. less than
the valuation first above mentioned. Tor
vessels within the limit of age aforesaid.
but in that case the reduction in valuation
Of said vessels shall be fifty cents per ton
for each year OF add1tlonal age OF sacn
vessels in place OF $500 as frst ABOVE specl-
led.
1t shall be the duty of the Board of Stare
Assessors to notify the assessors or an
towns, cities and plantations within the
State of the valuation fixed by them of such
vessel property within one week after the
same is made by them from time to time hnd
the valuation so fixed by said Board shall
thereafter be the basis of taxation of such
vessels for State, County and Municipal
purposes until the same shall be altered by
said Board as aforesa1d.
Sect.2 This act shall take erect when ap-
proved.