Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1903-11-12

amount Of real estate assessed, which is
part of their capital or surplus, but the
capital stock paid in does not necessarily
mean the par value of such shares. They
should be assessed at their true value
Life assurance companies or associations
are to be assessed and taxed on the full
amount Of their property, exclusive Of the
real estate located in New Jersey, deduct
ing the amount of their debts and liabil-
tiles, in the taxing district in which the
principal Office is located. The real estate
shall be separately assessed and taxed where
it is located.
Savings banks are taxed for their real
and personal estate thesaine as individuals.
Mortgages held by them are exempt from
taxation to the same amount as when
owned by natural persons.
Building and loan associations are taxed
the same as savings banks. The mortgages
held by them are exempt.
The real estate Of individuals and cor
porations must be assessed in the taxing
district where located. Property held in
trust must be assessed in the name of one
or more of the trustees, as such, separately
from his individual assessments. Where
the line between taxing districts divides a
farm or other lands, each part shall be
assessed in the taxing district where To-
Gated.
The tax on the tangible personal prop
erty Of residents and non-residents must
be assessed in the taxing district where such
property is found. The tax on other
personal property, the poll tax and dog tax
must be assessed on each inhabitant in the
taxing district where he resides May 90
each year
The machinery Of the law provides for
the assessing officers and boards, beginning
with the township assessors and closing
with the state board Of taxation, closely
linked chain from first to last. The assess
ment will be made between january / and
the third Monday in August, and May 90
is the date with reference to which all
property must be valued and its ownership
ascertained
The assessor is required to make out two
copies of the assessment list, properly made
up and written IN ink, and to lay both
copies before the governing body charged
with the duty Of revising the tax list. After
the revision thednplicate is returned to the
assessor, and the list must return on file
with the clerk and be open at all times to
the inspection Of tax payers and others.
The clerk Of each taxing district certifes
to the assessor on or before the third Tues
day Of August copy Of the annual tax
ordinance or resolution, showing the amount
TO be used for local purposes, to enable the
assessor to fix the local tax rate, while the
broad of freehoIders, at meeting not later
than the asst Tuesday in August, deter
mines the amount to be raised for county
purposes.
| The county board Of assessors, composed
Of all the assessors Of the taxing districts Of
each county, are required to meet on the
second Tuesday in September in each year
for the purpose Of appropriating state school
and county taxes among the taxing dis
tricts, and compiling the abstract Of rata
bles, exemptions, etc. Within thirty days
after this meeting, the assessor is required
TO deliver the duplicate. complete and
certified, to the collector.
| Taxes are payable as soon as the tax du-
! plicate is delivered to the collector and on
Or before October be must give notice BY
advertisement Of the days and places when
and where he will receive payment Of