The Brinkley argus., 1912-05-31

lother owners or stockholders. and TOT tne
 taxation of which no special provision
 is made by this Act held bv persons
 residing in this State, either for them
 selves or as guardians. trustees. or agents or by others in or out Of thls
 State for them.
 13 The term credits" shall be held
 to mean the excess of the sum or all
 legal claims or demands for money or
 other valuable things. or for labor oi
 service due or to become due, to the per
 son liable to pay the taxes thereon, ln'
 cluding annuities. or sums of money re
 ceived at stated periods due or to De come due all claims and demands se-
 cured by deed of trust of mortgages
 due or to become due, when added to- eether fsuch claims or demands to be | estimated at their full value in moneyl | over and above the sum of the legal and bona ide debts owing by such per son. There shall not be taken into ac- l count any obligation to any mutual ln- | surance company; nor any unpaid sup- scription to the capital stock or any joint stock company; nor any subscrlp- ton to any religious. scientific. literary l or charitable purpose; nor any acknowl- , edgment of any indebtedness unless ! founded on some consideration actually l received, and believed, at the time or making such acknowledgement. to be | full considera ton therefor. nor any as- 1 Acknowledgement of debt made for the pur- | pose of diminishing the amount of 1 credits to be listed for taxation; nor any greater amount or portion of any | liability as surety than the person re- | ouired to make the statement of such credits believes that such surety is in 1 equity bound and will be compelled to | pay or contribute.
 1 Section 6 No assessment of property ! for purposes of taxation and no tax authorized by law, levied upon any property by any officer or board au- l thorzed to make and levy the same. shall be held invalid for want of any matter or form in any proceeding which does not affect the merits of the case and which does not prejudice the rights of the party whose property is assessed or against whose property tax IS levied All such assessments and levieS shall be presumed to be legal until the contrary is affirmatively shown; and no sale of real estate for the non-pay- ment of taxes thereon shall be rendered invalid by showing that any certificate, return. affidavit or other paper, required to be made and filed in any office is not in such office but until the contrary is shown the presumption shall be in all cases that such paper was properly made and filed.
 Section [ All property subject to taxation shall be listed and assessed every year with reference to its value on February first preceding the assess ment.
 Section 8. All property shall be as- sessed at it's true and full value in money. Tn determining it's value the assessing and equaliZing officer or officers shall not adopt lower or different standard of value because the same is to serve as a basis of taxation, nor shall the price for which property would sell at auction or forced sale be adopted as a criterion of value. The officers shall value each article or de- scription of property by Itself. and at such sum or price as they believe the same to be fairly worth in money
 In assessing any tract or lot of real estate the value of the land exclusive
 
 be determined, and also the value of all structures and improvements thereon. and the aggregate value of all property including all structures and improve ments
 Section 9. At every general election an assessor shall be elected in each county in the State in the same manner as other county officers are elected. begin the first day of January the year after he is elected and shall continue for two years, or until his successor is elected and qualified.
 Section 10. Every person elected or appointed to the office of assessor. shall, within thirty days after the receipt of his comm ission, and before he qualities. enter into bond with the State of Ar kansas with good and sufficient security in the sum of not less than five thousand nor more than ten thousand dollars (the amount to be fixed by the county court) conditioned for the faithful dis
 
 shall be approved by the county judge The assessor shall be liable on his of- ficial bond to the State county and each of the several school districts, road districts, cities and incorporated towns in his county for all damages sustained by the State. county and each district or town by reason of any refusal on his part to assess any property at its true and full value in money. or to dis charge any duties imposed upon him by law. or to discharge such duties in the manner prescribed by law. Such damages shall be recovered in the same other official bonds The assessor shall, also at the aime he qualities, take the oath prescribed by section 20, article l9, of Constitution of Arkansas. Failure to give the above prescribed bond or to take the oath shall be deemed to be refusal to serve.
 Section II. Every assessor, each year before he enters upon the discharge of his duties. shall. in addition to the oat prescribed in section 10 hereof. take the following oath or affirmation. which oath shall be endorsed on each of the assessment books prior to their de- livery to the assessor;
 IT. ........... assessor for ..... County, do soiemnly swear that all real and personal property assessed by me will be appraised at It's true and full value in money; that in no case will knowingly assess property at anything less than its true and full value in money; that I will not knowingly omit to demand of any person. of whom may be by law required to make such demand. q statement of the description and value os the property which he may be required to list. and that I will not in any way connive at any violation or evasion of the law with respect to the listing or valuation of any lroperty of any kind for taxation
 Any assessor who fails to take the oath herein prescribed within the time prescribed shall be deemed to have va ca ted the office of assessor. and the clerk of the county court shall at once notify the Governor of such vacancy.
 Section 12. The assessor shall ap- praise and assess the real and personal property of his county Tn such manner and at such time as this Act shall pre- scribe. He shall appraise and assess all property subject to taxation in his county except such property as the law may make it the duty of the Arkansas Tax Commission to appraise and as- sess.
 Section IS Each assessor shall as- sess the property of his county between the first day of February and the first day of July each year For the pur- pose of making said assessment he shall visit each township in the county and shall devote at least three days to the work of assessing the property of each township. He shall fix one or more public places in each township most convenient to the taxpayers of the town ship at which he shall attend for the purpose of taking the lists of the tax payers and assessing the property. He shall give ten days notice of the time and place at which he shall attend by post | ing at least six printed or written mo- ' tices In as many public places in each