Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1896-06-27
Assessors at Work.

retard the progress of the work New
tax laws are always intricate affairs
and often hard TO understand. The
one passed by the Legislature of 1896
is no exception, and while il is doubt
ful whether certain things are taxa
BILE. yet to he settled by the Court of
Appeals. the primary subjects Of tax
alton are plain. Believing our sub
scribers will appreciate general
knowledge Of what is, and what is not
taxable, and advice as to the pro-
per way TO fill out the blanks which
they now hold, we herewith submit
the following suggestions to our read
ers with the hope that they will serve
them in complying with the law
UNDER 500 EXEMPT.
Hundreds of the persons with whom
the assessors have left blanks own no
real estate and their personal property
does not exceed in value one hundred
dollars. Although the law expects
them to fill out the schedules they will
not be taxed, as exemption is given,
as in the old law, TO persons possessing
personal property less than 800, I'M
less they also own real estate, in which
case they are TO have no exemption
upon their personal property.
SPECIAL EXEMPTIONS.
The law exempts from taxation as
property: % Wearing APP
parel of every description except dia-
monds and other costly jewelry not
habitually worn upon the person Cd
provisions and fuel for use and con-
sumption; 80 the working tools of
mechanics and artisans. moved or
worked exclusively by hand; (4,) the
first $500 in value of the farming i'm
plements in the possession Of any farm
er; g, crops or produce in the hands
Of the producer or his agent; Co. fish
while in the possession of the fisher-
man or his agent while yet unsold;
(7,) stocks, bonds and evidences of in
of the United States or of
the State of Maryland; (S,) shares of
stock in Maryland steam railways, be-
cause these railways already pay to
the State tax on their gross receipts;
90 bills receivable or evidences of
bebt for such accounts in the posses
sion Of persons engaged in commercial
business.
There are also exemptions of the
furniture OF churches, hospitals. asy-
lums, charitable institutions and incor-
p0rated educational institutions, and
Of the personal property of corpora
tons whose shares are taxed, but these
are phases of the law in which the in
dividual citizen has no direct interest.
MORTGAGES.
The taxation Of mortgages is one of
the chief features in which the new
law differs from the old. They are
taxed in the hands of the person lend
ing the money at s per cent. upon
their income and it is expressly for
hidden in the law that any agreement
shall he made in any mortgage after
June |, 1896, by which the payment
ofthe tax is assumed by the borrower.
Mortgages made prior TO that date, in
which such clause is inserted, will,
Of course, have TO he paid by the Dor
rover, but provisions is made that the
amount Of the tax which he thus pays
shall be deducted from the tax which
he is required to pay upon the pro-
perty upon which his mortgage is
placed.
Whether mortgages are TO be listed
or not is a question upon which au-
disagree and we would there.
fore advise the listing OF them al
though the law provides that the clerk
of the Court shall make return of all
Of record in his office.
MONEY DRAWING INTEREST.
Another point of the law which
will arouse much interest and inquiry
among those called upon TO I'll out the
schedules is the fact that they are re.
quired 10 pay taxes upon money draw
ing interests in savings bank or
other institutions. This is due to the
fact that the bank book which they
hold is an "evidence Of Indebtedness .
and so comes under that provision
which taxes ''stocks, bonds or eviden.
ces of Indebtedness"
IMPORTANT STOCK EXEMPTIONS.
Two important exemptions which
can be claimed in filling out schedules
are shares in Maryland building as
sociaiions and all stocks, bonds and
evidences Of Indebtedness Of any kind
which are not paying interest or Iii.
vidends. The reason for the exemp-
ton of building association shares is
due to the fact that sufficient tax is
already supposed TO have been laid
upon The real estate upon which the
association mortgages are placed.
TAXABLE EONDs AND SECURITIES.
Separate headings in the personal
property schedule specify the differ
ent kinds Of bonds, stocks, shares. pri-
vate securities and evidences Of in
debtedncss upon which holders are re-
quired to make return. Shares Of
national banks located in Maryland
and Of all corporations incorporated
in Maryland are required to be valued
at the rate placed upon them by the
State tax commissioner for the current
year. Other stocks and bonds are to
be rated at their actual market value
and not at their par value.
FURNITURE AND STOCK ~ TRADE.
In making out a return of their fur
niture taxpayers are not expected to
give a detailed and itemized statement
of each different piece, but 10 give
one estimate of each different kind Of
furniture, such as library. silver
ware, pictures, dc.
The tax upon the stock Of a mer-
chant is upon a fair average value of
his stock in business during the year
previous.
REAL ESTATE
III ll.I. & - .a. a..