The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-01-19
At THE LOCAL RATE
Assemblyman Kinks Bill for
the REIMBURSEMENT Of Rail
way Taxation.
sneeia1 to the lsrseu cstu Neaus.

TRENTON, Jan. 10, 1S97.-Mr. kltnE IN
troduced the first bill of the session, and
it was the Equal Taxation bill. It is No.
/, and this is its full text
An Act to amend an Act entitled AN
Act to revise and amend An Act for the
taxation of railroads and canal prop,
erty,' approved April 10, n thousand
eight hundred and eighty-four," approved
March q, one thousand eight hundred
and lightweight.
eral Assembly of the State of New
Jersey =:
i. Section 9 of the Act entitled "An
Act to revise and amend An Act Tor
erty,' approved April 10, one thousand
eight hundred and eighty-four, APPROX,
ed March n, one thousand eight hundred
and lightweight, is hereby amended so
as to read as follows
8. The State Board of Assessors shall,
upon the completion of their valuation
tax upon the entire assessed valuation
of each railroad company and of each
canal company as ascertained by them;
upon such valuation, after deducting
in the several taxing districts separately
valued and assessed under the provisions
of subdivision two of section three of
his Act, each company shall pay to the
State for general State purposes a tax
at the rate of one-half of one per centum
annually upon each dollar of such valua-
ton, and the State Board of Assessors
shall compute the same; each company
shall also pay annually, in addition to
said tax of one-half of one per centum
a tax at the local rate as fixed and as
purposes upon other property in each
taxing district, upon the valuation of its
property in the several taxing districts
separately valued and assessed under the
provisions of subdivision two of section
three of this act, which tax shall also
be computed by the State Board of As
SCISSORS; the sum of the estimates or
computation for each company shall con-
stitute the tax to be paid by each com
pany, and shall be a lien paramount to
all other liens upon all the lands and
tangible property and franchise of such
COMPANY in this State: such lien shall
take effect on the first day of November
and a copy of the valuation in detail of
the property of each corporation and of
the provisions of this act shall be served
upon the Treasurer of such corporation.
or left at his Office, within ten days after
said first day of November; but the fail
ure to serve any such notice shall not
be. held to 1~nvalidate any tax assessed or
affect any lien created under this act:
said tax shall be a debt due from such
company to the State OF that date, for
which an action at law or In equity a
be maintained, and which shall be a
preferred debt in case of insolvency;
these remedies are in addition to the
special proceedings provided for in this
act;
Provided, that whenever 1t shall ap-
pear to the State Board of Assessors that
the sum of valuation of real estate in any
taxing district made by the local asses
Sor OF Board of Assessors is either great
er or less than the true value of sich
real estate, then the State Board of AS
SCISSORS, after hearing the representatives
Of taxing district and of any railroad or
canal company interested, shall equalize
the taxes imposed by said local assessor
or Board Of Assessors and the taxes i'm
posed by the State Board of Assessors
on the real estate valued by them under
subdivision two of section three of this
act; such equalization to b made By
raising or lowering the taxes levied upon
division two of section three aforesaid.
SO that said real estate shall bear its
lust and equal proportion of the taxes
trict. US
:; This act shall take effect immedi-