Year: 1859

erty. which by this act Is exempt from taxation


SEC. II. If any person with whom the asses
sor shall have left notice, requiring him K
make out statement of property fer taxa
tion, shall have property which hy this ac
he Is required to list, either on his own account
or in behalf of others, be shall set forth such
fact IN the blank statement left with him by
the assessor, and shall make oath to the truth
thereof


RULES FOR yALUING PROPERTY.


| SEC. II Each parcel of real property shall
be valued at its real value in money excluding
the value OF crops which may be growing there
on. All real property belonging to any relig-
ious literary, scientific or benevolent institution
or society, well school and university
land, held under lease, except AS provided in
sectien six of this act, shall be valued at such
price the assessor believes such lease hold
estate would command in money. Personal
property shall be valued at the usual selling
price at the place where the same may be held
but If there be usual selling price known to
the person required 10 fix the value thereon, ii
shall be valued at such price as is believed could
be obtained therefor In money, such time
and place. Money, whether in possession or
deposited subject to be Withdrawn on demand
shall be entered in the statement at the full
amount thereof; provided that deprecated
bank netos shall be entered at their current val
ae. All credits except those expressly exemp-
ted by this act, shall be listed for taxation. If
credit calls for specific article or articles of
property, or for a specific amount Of labor or
service, 1t shall be valued at the current price
of such property, labor or service. Annuities
shall be valued at sHch price rs the person list
ing them believes them to be worth in money.
Manufactured articles remaining unsold IN the
hands of the manufacturer, shall be valued at
their true value in money No pers IN shall be
required TO list greater portion of aay credit
than he believes to be collectable, a greater
portion of an obligation given for the payment
OF rent, than the amount which may then be
actually due No person shall be authorized
to deduct from his personal property. any
greater portion of his liability security for
others, than he believes that he is legally or
equitably bound to pay such security.


MERCHANTS AND MANUFACTURERS.


SEC. l3. Every person who shall own, or
hold subject 10 his control, any personal prop
erty within this State, which shall have been
purchased with a view of being sold at an ad-
vanced price profit, or which shall have been
consigned 10 him for the purpose of being so
sold, shall be held to be a merchant. And when
such person shall be required, according to the
provislors of this act, to make out and deliver
10 the assessor, statement of his other person
al property, he shall include In such statement,
the value ot personal property appertainiug to
his business as merchant. And in estimating
the value of such property, he shall estimate
the average value of such articles of personal
property which he shall have had III his pos
session, or under his control, during the year
next preceding the time of making such state
meut, or during that portion OF said year, which
he may have been engaged in such business
In order TO arrive at the average value of such
properly, he shall estimate the amount on hand
as nearly az Iuay be. In each month Of the pre-
cedIng year, or such part thereof he may
have been engaged IN such business; then add
the several monthly estimates, and divide the
aggregate by the number Of months he may
have been thus engaged in business provided
that no I-uee shall be required TO list for
taxation any property consigned to him, for the
mere purpose OF being forwarded. And prOvI-
ded further that the word person. when
used IN this and the four succeeding sections,
shall be held to mean and include company" ;"
." iirm,' or corporation, the same may re-
quire.


SEC. II. Every person who shall commence
merchandising, IN any town. city or village, in
this State, after the first Monday In July Ia any
year, and the value of whose personal property
so employed, shall not have been listed for tax
alton, shall report under oath, to the clerk of
the Board OF Supervisors of the county in which
he Is engaged in business the probable amount
OF the average value of the personal property in
tended by blm to be 50 empoyed and such
amount shall be entered by the said clerk, on
the assessment roll Of the town or city, III which
such business may be carried on; and such
property shall be taxed, the same as if 1t had
been returned hy the proper assessor. But If
such report shall not be made to the clerk of the
Board of Supery sors, till after the assessment
roll shall have been distributed among the
towns and cities, the sad clerk shall forthwIt h
notify the clerk of the proper town or city, of
the amonnt Of such property, and the name of
tie person IN which tie same should be taxed,
and the clerk Of such town city shall enter
the same on the list of property for taxation,
with :hc amount of tax to be collected there
from.


SEC. l5. If any person shall commence mer-
chandizlng, as designated in the foregoing sec
t!on, and shall not within two months thereafter.
report in accordance with the requirements of
section fourteen of this act, such person shall
forfeit and pay two per cent on the value of
the personal property by him so employed;
and the value of such property shall be ascer-
tanned by the testimony of witnesses, called by
the treasurer of the town or city In which such
business NAV he carried on, and the said penal
ty shall be collected by such treasurer. by suit
before any Justice of the Peace or court bavin z
jurisdiction thereof. and when such penalty
shall be collected, the amount shall be dIstribu-
ted in the same proportion as other taxes; pro-
vided 1t shall be tire duty of said treasurer to
notify such merchants of the above requirements
of law, at least thirty days before the COM
mencement of such suit.


SEC. l6 Every person who shall purchase.
or hold personal property, for the purpose of
adding to the valae thereof, by any process Of
manufacturing. refining, or by the combination
of different materials shall be held to be {. man
Ufacturer; and when sIch person shall be re-
qured TO make out a stateRent OF other person
al property for taxation, he shall state the
age value, ascertained as provided in section
thirteen of all articles purchased or held for the
purpose of being used IN any such process OF
manufacturing, refining or combining, which
he shall have on hand durin., the year next pre-
ceding the time making such statement, and
the amount of all money ard other capital by
him used in such process of manufacturing, re-
fning or combining; and such statement, be
shall attest on oath, requ,ied In other cases.


SIC. Il. Every manufacturer shall list the
value of ali engines, tools, any machinery of ev-
cry description. not forming part of any parcel
of real property, used, or designed 10 be used,
in any process of manufacturing. as defined 10y
this act.


DISTRICT ASSESSORS.


SEC IS. 7. shall he tNe duty Of the assessors
elected Tor the wear one thousand eight hun
ifeu ane tfty-pIue. ard every second wear