The Republican. [volume] (Oakland, Md.) 1877-current, 1896-04-02
PLAN OF REAssEssMENT.
Features of the Bill Passed by the
General Assembly,.

ueW doeessHleHI Ulll 1oIlOWS CLOSELY
upon the line of the Hayes bill,
passed in 1894, and are taken
largely from the Herring bill.
Ships are valued at the residence
of the owners.
The real estate of corporations is
to be taxed as at present.
Shares of stocks are assessed to
the owners where they reside.
All personal property in which
any resident of the State has an
equitable interest with the legal
title to the same IN some other per-
son or corporation who is non
resident IS also subject to taxation
IN this State. As are all bonds
issued by any State or Territory,
bonds of corporations, private secu-
rites, real property and the personal
property not having capital stock
divided into shares.
The property, real and personal,
of steam railroads shall be taxed
for county and municipal purposes
as the property of individuals. No
extra valuation is to be LEVIED upon
4 bridges over streams forming a part
Pof the roadbed of any railroad or
turnpike, but they shall be valued
as any equal portion of the road is
valued.
Bank and other stocks are to be
taxed upon the valuation of the tax
commissioner for 1896, and this
valuation is to be sent to the asses
sors. The valuation Of stocks is to
be returned by the assessors to the
tax commissioners.
EXEMPTIONS FROM TAXATION.
The following are among the ex-
emptions from taxation:
United States bonds or the prop
erty of the United States, the State
or any county or city.
Houses used exclusively for pub
| lie worship, parsonages, graveyards,
, cemeteries not used for profit.
Crops in the hands of producer OIL
his agent.
Tools of mechanics worked by
$ hand power.
. Farm implements to the value Of
, $500.
Wearing apparel, except ola
monds and costly jewelry moi
habitually worn.
: Fish in possession Of fishermen
S Hospitals and charitable institu
tions, educational institutions anC
as much as forty acres attached
thereto.
: Personal property of a corpora
S ton in this State whose shares arr
4 subject to taxation. The shares o.
railroads incorporated in the STATE
which pay tax on gross receipts an(
. --4- 49,, 49, 4 N, 1, },i OF ss~l A-7,a--
BOOK accounts OF merchants pay
0 ing tax on average value of stock il
r trade and every person engaged IL
t commercial business shall pay tag
on his average stock in trade.
The exemption of homestead OF
building association shares was
stricken out.
The president of every corpora
: ton doing business IN the State
, must furnish to the county commits,
sioners or appeal tax court a state
: ment OF real estate owned and the
5 valuation of this real estate is de-
/ Quoted from the total value of stock
as at present. The shares of stock
are to be valued for county and
municipal purposes to the owner in
the county OF city in which he
resides. The tax on shares owned
by non-residepts shall for county
and municipal purposes be taxed
where the corporation is situated,
and the tax shall be collected from
the corporations and may be char
ged by the corporation to the stock
holders.
All steam railroads doing bust
ness in Maryland shall be subject
to the tax on gross receipts.
RAILROAD TAX.
A tax is levied on all steam rail
roads doing business in the State.
A state tax-as a franchise tax-of
two per cent. is levied on the gross
earnings of telegraph or cable, ex-
/ press or transportation, telephone,
parlor car, sleeping car, safe deposit,
trust, guarantee or fidelity company
incorporated or doing business in
the State; one per cent. on the gross
receipts of oil pipe line companies,
title insurance companies incorpo-
rated in the State; three-quarters
OF one per cent. from the receipts
of electric light companies; one
and one-half per cent, on electric
construction and gas companies
incorporated in this State, and every
fertilizer company doing business
in the State.
Railroads and pipe lines, tele-
graph, express and other similar
companies partly in the State shall