Birmingham age-herald., 1895-03-15
TAX CIRCULAR.
TX CIRCULAR. Circular No. 27.
 STATE OF ALABAMA, AUDlToR's OFFICE,

AUDITORS OFF1CE, I
 MONTGOMERY, Als. March 4, 1895. To the Tax Assessors of the States
 Your attention Is respectfully called to the provisions of an act passed by the re- cent session of the general assembly, enti. lied 'tan act to amend the revenue laws of 1S, 1895, copy of which was published in ihe Semi- Weekly Advertiser of March l, 1895, which you have doubtless received. It is the purpose of this act that all of it's provisions, which it Is practicable to put into operation, shall apply to the assess ments now going on. Some of its provi. sions, with slight variations, are re-enact- meDts of existing laws. You are respect fully urged 10 familiarize yourselves with it's provisions that you may apply them to your work now going on. Where you have completed your rounds, as provided by the former laws, it is not the purpose of the new act that this work shall bs repeated. But where assessments have been made and the provisions of the amended SC, will re- quire change in such Al easements to meet tue provisions of the new act, and when 1t is practicable to do SO, he change should be made. Your special attention is snsd ans 2o to 2 the 2 Ps M s5 0i ss ssd 27 of the act in question. he provisions Of all these sections may be made applica- ble to your present work. except as 10 the time named in section p, when you are required 10 deliver 10 he county board of tquaiiza,ion tLe assessment lisis, book of assessIne iis and supple mental assessments. by tbe provisions of section 43 of the act, you EIe allowed until ihe time named In iLe foi mer law to do this, to-wit: the first Monoby in July for delivering the book of assessn ents aud the stcono Monday m August To make return of supplemental as- sessmeDts.
 The n.w provisions contained in section A. ale meLo ments to subdivisions 6, ' and 8 of ec ion 453 of the code ame suo- oivisi. ns under section 5, pages 10 and Il of tue lfesent revenue cude). Under the lormer law subdivision 2, relating to tue assessment of mooey loaned, solvent credits, eic., deduction of the indebted Less ot he taxpaye was permitted and the taxation only oi lhe residue authorized. The amendtd d statute requires the tsxition of such pioperty without deductipg the indebtedness of the tax Layer.
 Subdivision refers to. the taxation of bank shares, aud under the statute, before tue pr, sent amendment, the value of all real and personal property owned by bank was permitted 10 be deducted from "the anouet q sum at which the whole of is sh res were assessed,' ' the residue of Values remaining af.er such deduction was 10 be assessed as the value Of the whole of the shares of such bank, and such residue rivlded by the whole number Of such 6 iares should constitute the vaiue of each saarc for taxation. such shares of stock t the value so assessed were 10 be treated by the owuer thereof as money loaned, solvent Credits or cTcultS or 'Vhlue, Within lHe iDe ling of the laws of his state, from which value such owner WAS entitled to de- Guct u is indebtedness. Under the amended provision he real estate and personal prop erty owned by bank should not be de- duo. ed from he W ole value Of the shares, but such property is assessed in the same m.nner as the real and personal property oi other tax payers. Neither is the share holder permitted 10 deduct his indebted ness from the value of the shares owned l.x.h htrx rIt,th han ant of han 1 har it should be made without the deduction of the real and personal property owned by tue bank, and without permitting the shareholder 10 deduct his indebtedness. In this connection your attention Is re- spectiuily called 10 the fact that he affida- wit provided for by circular No. 20, issued rom this department, should be used no longer. You should take immediate steps to put these provisions of the amended law into ,ffect. Your attention is also spe- ciaily called to the provisions of section 9 Of this act. Under its provisions it is your duty to assess the property belonging to water cobpauies, electric light and power compa nies, gas light comps niss, rolling mil, mine and quarry companies, manu- factnriug companies and dams across riv- CTS and creeks, situated in your respective counties.
 Section 43 Of the act provides that all the provisions of the amended act shall go into effect except as to '.ihe times when the as- sessments shall be completed and when they shall be .qualizeo,'' the latter of which are governed by the laws in force prior to the approval of the act until Octo- Der l, 1895, when the next assessment year begins. There other sections of this act which contain new provisions, and which should be enforced in making the assessments for this year. Your fees and commissions are governed by the provis- ions of section 5a of this act. Very re- spectfuiiy, JOHN PURIFoY,
 State Auditor.