The times. [volume] (Richmond, Va.) 1890-1903, 1902-01-21
- III, TIT .ERa Ne.HIsE, TAX.

/ Section ). The amount of such frarcf MISE
| tax shall be equal to one per c ehlt'ih y u
the gross transportation receipts OF sucii
corpora tons .fot. the fiscal year elialns o'l
/ June seth Of each year, to oe ss7cei ts'ii'eu
in the. foil lowing manner:
| ff)e7slks1 to such roads or canals lying
/ wholly within this State, the tax shall
| be edtIral to one per centum OF the entire
| gross TRANSFORMATION receipts Of such COM
| I1aTly.
| {b1 When such railroad or canal lies
| 1,artly within and partly without TINS
| State, or is operated as part of a line or
| system extending beyond this state, the
| tax shall be etT1Itll to one per centuIn OF the
| gross TRANSFORMATION receipts earned with
| III this State, to be ascertained as TOT
| lows: BY ascertaining the average gross
TRANSPORTATION receipts per mile over its
whole extent within and without this
state, and multiplying; the result-by the
/! 1llIrus7er of miles operated within this
| State: provided, that from the sum SO
| aseertatued Stles said board may deduct a
reasonable sum because of terminal faeil-
| itisss or <otter imitar advantages, if any:
! situated in OTTER States, exceeding III
| value sinlilar-faciIities or advanta ges,1L
/ any. situated in this State
Section s. The Board of Public Works
shall, on or before the LIST day of October
| :
| erty as. provided for i'll section three, ard
| shall determine the amount of any frafi-
| chise tax ABOVE provided for and reEo-t
| the same to The State Auditor, who shail
| forthwith give notice thereof TO the cor
| poration upon which the taxes are lcv3efs
/ Said taxes. until paid. shall be lien upon
/ the property within this State OF the ran
/ road or canal company owing said taxes
| and take precedence of all other liens
and membranes.
RIGHT or APPEAL
| Section T. Appeals OF right from the
| decisions Of the Board Of Public Works
as to such assessments and the amounts
| of such taxes shall lie TO the Circuit
! Court of the city of Richmond, and an
/ appeal may be granted to either party
| from tho decision Of said court by the
Supreme Court of Appeals Of Virginia
| provided that in any case in which such
/ corporation shall appeal to said Circuit
Court without paying, under protest.
| when due. the tax or taxes assessed
| against it, the court finally deciding. II
! not in whole or in part sustaining sucn
| aDpeal upon its merits, shall decree or
| order against the corporation so having
| appealed in addition to the taxes SO
/ assessed, damages equivalent to interest
| thereon at the rate of ono per cehttiH yer
! month upon the amount of such taxes:
and If such appeal shall be so sustained
/ in whole or in part, then SAID corporation
/ shall 90 granted appropriate relief, ilelHo-
! ing the right 10 recover. with proper
costs from the STATE local authority Or
! Inunicipality to which the same. has been
! paid all excess OF. such taxes paid by II.
| by nlandamus or other prcEsr process
issuing from the said court which shall
nave finally adjudicatcd such appeal.
Section s. Until otherwise prescribed by
| law tho system of taxation in Virginia,
! az 10 the CORPORATIONS hereiuhcfore men
:, toned shall be as hereinbefore set forth,
/ and shall SC, remain until. the first day OF
! JANUARY. 1919: after which date it shall
! continue until modified or changed as
may be prescribed BY law, including the
/ above exemption as to stocks, bonds. Sc
curities or other evidences of indebted-
| ness.
Section o Trust or security companies
! chartered by the State. and ineorParateo
! banks. shall be taxed i'll the same manner
I in which Incorporated banks are now tax
ed provided that from the total assess
cd value of the shares of stock OF any
! such company or bank. there shall be de-
| Quoted the assessed value of its real es-
tate otherwise taxed in Virginia and
?. value; OF each share. of stock shan pc
hits proposition of the remainder
Section 10. The General Assembly shall
4 1TOElCe -DE law lUL tlit Si'SSAt'4 e'i'N4 ~
ratio assessment of all coal and other min
er3l lands, at their fair market values
but until such special assessment shall
be made. such lands shall be assessed as
| other real estate.
TAX ON INCOMES.
Section IL The General Assembly may
| lew q tax on incomes i'll excess OF SIX
| hundred dollars per annun; and may
| levy a license tax upon any business
! which cannot be reached by the 40
| vaIorrn system. municipalities shall not
!. Impose taxes. upon abutting land owners
|, for street orr ether public local improve
/ ments, except fer improving the walk
| ways upon said streets and for sewers
| and the same, when imposed, shall be IL
| promotion TO the peculiar advantages TO
! such atiutting land owners in consequence
| OF the Improvement No taxes shall be
| imposed upon abuttinS land owners IN
/ counties for Local public improvements
Section l. No statute OF limitation
| shall, after this Constitution shall be IN
| force. run. against any claim Of the stree
for taxation upon any property, nor shal
the failure to assess property Tor taxa
| ton defeat q subsequent assessment Tor
and collection Of taxes for any DESeeolAS.
| year or years
Section 49, The General Assembly shah
| provide for q reassessnent Of the real
estate in this State in the year 1905, OF
as soon thereafter as practicable, ana
evcrr fifth year thereafter; and in all sucf
! refreshments such real estate snail BE
assessed at It's fair market value me
+! General Assembly shall also provide 1oF
| The cguaiization OF -sucl. assessments alld
the assessments Of tangible personal
| property, throughout this state.
C-APiTATION TAN.