The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1903-06-26
REVISED TAX
ACT OF 1903
Information that will Prove Of
Great Value to Taxpayers
and Tax Officers.
EXPERTS MAKE STATEMENT

1t was prepared by commission con-
sisting of Judges Dixon and Ford and
Charles L. Corbin. The following care
fully considered statement of the new
act was prepared by Mr.. William II.
Corbin, and is of great interest to
every taxpayer and taxing officer in
New Jersey:
"The general laws for taxation of
persons and property in this State
have not been revised since 1916. The
revisers of 1875 merely arranged the
numerous acts in convenient order,
but did not attempt any recasting OF
them. The result is that the tax act
of 1916, with supplements passed al
most every year since that time, con-
stitutes the tax law at the present
day.
When the General Statutes were
published in 1895, the volume of legis-
lation comprised some six hundred
sections, and every year since then
has added to the mass of legislation.
The acts have become one vast wilder
ness of rules, exceptions, directions,
proceedings, repealers and require
ments that nobody pretends to under
stand.
"The revisers of 1903 attacked this
enormous, undigested mass OF legisla-
tion and reported bill repeating it all
and reduced it's substance to sixty-six
sections, contained in Chapter POS of
the Laws of 1903, which will take eff
feet on December 20 next. 1t is prob
ably the most important act passed by
the legislature, and perhaps the most
important one revised by the commits
sioners. It's first article provides for
the one dollar poll tax, the taxing Of
property at true value, the defining OF
the term taxing district to conform
to the terms used in the Railroad Tax
Law, and enumerates the exemptions
from taxation. These, by the way, are
becoming very formidable; one-tenth
of all the property in the State is now
exempt from taxation. Nothing seems
to be so popular with the legislature
as an act to make new exemption OF
some class of persons from taxation.
In this regard the commissioners have
simply compiled and condensed what
they found in the statutes. The article
relating to the assessment OF real
property establishes the uniform rule
that it shall be valued before the third
Monday of August and empowers the
State Board of Taxation to prescribe
a rule that the land shall be assessed
separately from the buildings, and
they may require a separate entry of
arabic lands, meadows, pastures, wood
lands, swamp lands, ETC.; the assessors
must also list cemeteries, church prop
erty, public building and other ex-
empt property. Where property is di-
vided into lots and blocks these desig-
nations must be used.
"a very important change is in the
matter of taxation of mortgages. No
mortgage on real property is to be
listed for taxation, and no deduction
from the assessed value of the land is
to be made on account of any mort
gage, but the owner of the property
who pays the tax on the land is en-
TITLED to credit upon the interest for
so much of the tax as is equal to the
tax rate applied to the amount due on
the mortgage, except the parties have
otherwise agreed. This may lead to a
little trouble at first. but when once
understood will undoubtedly work
with smoothness, for it will relieve
the public authorities from valuing
anything except the land itself, and
the division between mortgagor and
mortgage will be entirely in control
of the parties.
''Tangible personal property is to be
assessed where found, as before, and
other personal property in the district
where the taxable inhabitant resides.
Taxable personal property of non-resi-
dents is to be assessed where found.
Dog taxes are retained.
Deductions for debts to residents
of New Jersey are allowed as before,
but carefully guarded. Corporations
are to be regarded as residents and in
habitants of the taxing district where
their chief office is located and their
personal property is to be taxed as that
of an individual, except that foreign
corporations doing business here are
to be taxed with respect to the amount
of business done here.
National Bank stock is to be as
,sessed against the stockholders in the
taxing district where they reside, and
if they reside out of the State, then in
the taxing district where the bank is
located
AThe tax duplicate must be made
out by the second Tuesday in August.
The assessors of the several tax
ing districts in each county consti-
tute the County Board of Assessors,
who meet ON the second Tuesday of
September at the court house. They
are to prepare tables of aggregates and
other papers, the blanks for which are
furnished by the State Board of Taxa
ton. This, of course, will tend to uni
formity throughout the State in the
forms.
The Commissioners of Appeals are
to meet on the fourth Tuesday of Octo-
Der to hear all written appeals. In
cities different time may be fixed.
This may add omitted parcels and
raise assessments that are too low and
otherwise correct the assessments.
The State Board of Taxation is con-
tinued with all its previous powers
They may investigate and review the
action Of local assessors, increase as
sessments, and they must hear every
taxpayer who feels aggrieved and APP
plies in time. The Board of Chosen
Freeholders, or the representatives of