The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1916-03-28
A Valuable Guide To Taxpay-
efS OF Ohio
In Listing ThGir. Holdings To
The Assessors

The state tax commission has Just
issued pamphlet on the subject Of
listing personal property for taxation,
and which will be of much interest
and value to property owners who are
about to be visited by the assessors
to make their annual returns for taxa
tion. A copy of the pamphlet has been
received by County Auditor Walter M.
Riley. 1t is as follows:
What Property Is Taxable
All personal property, Of whatever
description, moneys, credits, invest
ments in bonds, stocks or otherwise,
shall be listed for taxation at the true
value thereof in money.
Definitions
Personal Personal prop
erty" may be defined as that which has
a value in itself, and includes every
form of chattel property.
Moneys--The term moneys" means
money in possession or on deposit sub
a
taxable for the full amount thereof
without deduction of debts
Credits-The term credits" means
the excess of all legal claims and de-
mands over and above the sum of leg
al bona fide debts, and includes notes,
mortgages, accounts, shares of stock
in building and loan companies and
any other claim for money or other
valuable thing. Debts may be deduct
ed from credits but not from any other
class of property,
Investments in Bonds - The term
"'mvestment in bonds" means money
invested in bonds, certificates of in
debtedness or other evidences of in
debtedness issued by any state, coun-
ty, city, village, hamlet, township,
school district or other political divi-
sion, or by any incorporated or unin-
corporated company. (See "Exemp'
tions" for certain bonds which are not
subject to taxation.)
Investments In Stocks-The term
"investment in stocks" means money
Invested in the capital or stock of an
association, corporation, joint stock
,company or other company (See Eek
emptions" for certain stocks which are
not subject to taXation.)
EXEMPTIONS
The following personal property and
Investments in stocks and bonds are
exempt from taxation In Ohio:
Exemption OF SlOO-Each individual
personal property. Executors and ad
ministrators Of estates, incorporated
or nincorporated companies, firms
and partnerships. are not entitled tC
this exemption Trustees, guardians
agents, etc, who act as the legal rep
resentatves of others, and person:
owning property in common are EMIT
led TO the exemption Only one eXemp
tion may be allowed in the same fami
ly unless different members thereo
own and list separate property.
Ohio Stocks Shares Of stock o
Ohio corporations are exempt from tax
alton.
Foreign Stocks-Shares OF stock o
foreign corporations, all Of whose prop
erty Is taxed IN Ohio. aud shares o
stock Of foreign corporations, two
thirds OF whose property is taxed II
Ohio and the remainder in some othe
state or states. II such corporation
pay a state franchise tax of 800 O
one per cent. on their authorized cap
tai stock, are exempt from taxation.
Ohio Outstanding bonds O
the State Of Ohio or of any city. vi
lage, hamlet, county, township o
school district OF the state, issued pr
or to January !. 1913, and outstandin
on that date, are exempt from taxi
fion. All such bonds issued after tina