Gloucester County Democrat., 1903-08-06
ONLY FEW CHANGES IN NEW TAX
LAWS.
No Taxes on Mortgages and Personal
Property is to be Taxed
Whenever Found.
DELINoUENTs GO TO JAIL

One of the most important measures
passed by the legislature last winter, and
one about which little has been said pub
licly, is the revised tax act. 1t was pre-
pared by commission appointed for the
purpose, composed of Supreme Court JUS
tices Dixon, Fort and Attorney Charles l..
Corbin. 1t is the only revision Of the tax
laws that has been made since 1916.
The commission found itself with mass
of matter on its hands when it began the
Work OF revision. 1ne actS relablHg 10
SaAaslon were sass m,iuslnGss u duaeS
eAoepo,ons, uuooSions z, p.ooeeuigs, lopoa,- 'ss
&c GNU equil eniouOS a OnaS nooouy pAe0onu-
Gu " Vi oouiu uhuels'ane'
oNE-TENTH EXEMPTED.
When the commission had completed its
work it had reduced over 900 sections to
S. contained in chapter 2Os of the laws of
1903, which will take effect December 20
next 1t opens with provision for the
poll tax, the taxing of property at true
value, the defining of tie term s'taxing
DISTRICT to conform with the terms used in
the railroad tax law: enumerates the ex-
emptions from taxation. One-tenth of all
the property in the State is now exempt
from taxation.
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 q
separate entry OF aiaoie lands, etc, tne
assessors muSe also iiss cemeeerles, churcn
properly puOilc oulio'ngs ana oener exempt
properly.
NO MORTGAGE TAX.
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 mortgage but the
owner of the property who pays the tax
on the land is entitled 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 where the parties
have otherwise agreed. Tangible personal
property is to be assessed where found, and
other personal property in the district
where the taxable inhabitant resides. Tax
able personal property of non-residents is
to be assessed where found.
Corporations are to be regarded as resi-
dents and inhabitants of the taxing dis
trict where their chief office is located, land
their personal property is to be taxed as
tnat OF an lndlvldual, except that foreign
corporations doing business here are to be
taxed with respect to the amount OF busi-
ness done here.
NATIONAL BANK STOCK.
National hank stock 10 to he assassad
against the stockholders in the taxing dis
trict where thev reside and If thev reside
out of the State then in the taxing district
where the bank is located.
The tax duplicate must be made out on
or before the second Tuesday IN Augu st.
The county board OF assessors are required
to meet at the county court house on the
eond Tuesday IN September. The COM
mlssloners OF appeal are to meet on the
fourth Tuesday IN October. In cities a
different time may be fixed. They must
hear every taxpayer who feels aggrieved
and applies In time.
The thlrty-eighth section provides that
no assessment shall hereafter be set aside
upon any certiorari because the State,
county or local taxes are blended together,
nor because the aggregate amount levied is
greater than called for by law, nor because
the assessment is made at higher rate than
authorized by law, or because of lack of
form, but the court shall correct these
errors.
Taxes are payable on December 20. and
all who do not pay on or before that day
are delinquents, and the taxes thereafter
bear interest at from 7 to 10 per cent. All
the taxes may be collected by sale of chat
tells of the DELINQUENT. or by taking his
body.
rAvpc .s 1,u,1c
40 - ~ '-
All unpaiu 6aAes Oh real eseaee are maue
a a nrs6 hen on tne lanu on ana aIter Deem
oer ~, Wnlcn llen IS paramoune 70 an plor
an1 suosequeho aiienaOlons anu oescents ~ !,
anu Iiens, e1cepo su1Se4u ueIo SaAes. u ene
saxes remain a unpaid uneil ene IoioWing
nrst oay OF september, tne lanu, OF neces-
sary porelon enereoi, may oe soiu Ior 6ne
snoreess eerln io1 WHICH any person WIN
5ake 6he same anu pay tue YAK anu lnseres5i
!, =. ~ nnay 70 solu @ ~ iee' "nelo ~ one WIN
olo lor q snolSer 81 l, eeln' a celelnca1e ol saie
10 1ssueu W sne puiet'ase; WHY may, az n,s