Clarke courier. [volume] (Berryville, Va.) 1869-1997, 1902-06-25

January, 1913, after which date il
shall continue until modified or
changed, Us may be- prescribed by law:
provided. however, that if the said
system shall for any reason become
imperative the General Assembly
shall have power to adopt some other
system.
Sec. 10. Until otherwise prescribed
by law. trust or security companies
chartered 10y this State, and incor-
pOrated banks, shall be taxed in the
same manner in which Incorporated
banks are taxed, by law in force Jan
uary l, 1902: provided, that from
the total assessed value of the shares
of stock of any such company or
bank, there shall be deducted the
assessed vslue of it's real estate other
wise taxed in Virginia, and the value
of each share of stock shall be its
proportion of the remainder.
Sec. l6. Except us otherwise pro
vided in this Constitution, the fol.
lowing, aud other property shall be
exempt from taxation. State and
local; but the General Assembly
may hereafter tax any of the prop
erty hereby except that mentioned in
sub section "d":
(O Property directly or Indirectly
owned 10y the State, however held,
aud property lawfully owned and
held 10y counties, cities, towns, or
school purposes. All obligations is
sued 10y the State and exempted by
law. Obligations issued 10y counties,
cities, Or towns may be exempted by
the authorities of such localities from
local taxation.
(6) Buildings with the land they
actually occupy, aud the furniture
and furnishings therein lawfully
owned and held by churches or re.
ligious bodies, and wholly and ex-
clusively used for religious worship
or for the residence of the minister
of such church or religious body,
together with such additional adja.
cent land as may be reasonably nee.
essary for the convenient use of such
building.
| (c) Private family burrying
grounds not exceeding one acre in
area, reserved AS such by will or deed,
or shown by other sufficient evidence
TO be reserved AS such, ard exclu-
sively used, and public burying
grounds and lots therein so apprOpri-
ated and so exclusively used, ans
public burying grounds and lots
therein so appropriated and exclu-
sively used and not conducted for
profit, whether owned or managed
by local authorities or by private cor
pOrations.
(d) Buildings with the land they
actually occupy aud the furniture,
furnishings, books and instruments
therein belonging to, and actually
and exclusively occupied and used
by public libraries not conducted for
profit, or to churches or to incorpor-
sted colleges, academies, seminaries
and other incorporated institutions
of learning, including the Virginia
Historical Society, and which are
wholly devoted to educational uses,
and which are not conducted for the
profit of any person or persons, nat
ural or corporate, directly, or under
any guise or pretense whatsoever, to-
gether with such additional adjacent
land owned by such libraries and
educational institutions as may be
reasonably necessary for the convenl.
ent use of such institutions, respec.
lively, with the buildings thereon
used ss residences by the officers OF
instructors Of such educational
institutions, and also the permanent
endowment funds held by such Ii
} braries and educational institution:
directly or in trust, and not invested
In real estate. But the exemption
} mentioned in this sub. section shall
not apply to any industrial school
individual or corporate, hot the
property of this State, which does
work for compensation, or manufac
} lures and sells articles, in the commu
, nifty IN which such school is located
} (e) Real estate belonging to, actu
: ally and exclusively occupied, anC
, used by, and personal property be
longing to, Young Mems Christian
Associations, aud other similar
religious associations, orphan or othel
asylums, refOrmatOries, hospitals anC
, nunneries, which are not conducted
for profit, but purely and completelv