The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-02-17

sleepers and depot buildings used for
passengers connected therewlth, and the
waterway of canals which includes the
towing path and BERN bank.
Sec0nd.-A1l real estate used for rail-
road purposes, other thar main stem and
waterway.
Third. Tangible personal property.
Under the present law each railroad
ana canal company pays as annual
1. a. tax of one-half Of one per cent. on
the entire assessed valuation Of all its
properly, viz: All property included un-
der ella ses ], 2, 3 and 4. This tax is paid
INTO the State treasury for the use Of
2. In addition to said tax of one-half of
one per cent, p tax at the local rate
the property is located, on all property
included under class 2, above mentioned,
provided such tax shall in no case exceed
State Sta si iala ana a he State ala ptro a19
Ter pays the amount of such tax derived
from such property wiz: the property
district to the County Collector. but in
case the local city or township rate. in
any county exceeds one per cent, then
the State Comptroller pays such tax to
the treasurer OF such city or township.
The valuation and assessments are
5nase, alass the taxes computed, by the
four members appointed by the Governor
with the consent of the Senate
Assembly b'h No. does not disturb
the present machinery of taxation estab-
act of 1888. It affects only the real estate
used for railroad and canal purposes de-
classification, and makes such property
subject 10 the same rate of taxation as
property OF individuals and other COR
porations. one-half Of one per cent. on
each dollar of valuation of this property
will be retained by the State as under
the present acts, and the balance will be
applied to the uses of the taxing district
in which the property is situated, in pro-
portion to the amount of property therein
located.
The, following is copy of the bill as
Introduced
a supplement to an act; entitled 4An
Act to revise and amend AN Act for the
taxation of railroad and canal property,
approved April tenth, one thousand eight
hundred l. ,ags and eighty-four," approved
/. Be it enacted by the Senate and Gen
eral Assembly of the State of New Jer
sey. That it shall be the duty of the State
other ascertainments of values now re-
quired to be made by them. TO ascertain
the true value of all real estate owned or
each taxing district in this State. inc1ud
ing the true value of such parts of main
stems and waterways as snail be found
in each OF such taxing districts.
?. The State Board of Assessors shall.
upon the completion of their valuation
and assessment. proceed TO compute the
tax upon the entire assessed valuation Of
each railroad company and of each canal
company, as ascertained by Them Upon
such valuation, each company shall pay
to the State. for State purposes, tax at
the rate of one-half Of one per cent an
nually, upon each dollar of valuation, and
the State Board of Assessors shall COM
pute the same. Each company shall also
pay, in addition to said tax. of one-half of
one per cent tax at the local rate, as
fixed and assessed for county and munich
pal purposes. upon other property in each
taxing district, less one-half of one per
cent upon the valuation of all its real
estate in each taxing district, including the
value of it's main stems or waterways
found within such district which tax
shall also be computed by said State
Board OF Assessors.
8 All acts and parts Of acts inconsistent
with this act be and the same are hereby
i. This act shall take effect Immediately
The following table shows the effect of
the nresert law. and the benefits to be de-
rived by the Queen Bill.