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Proceedings and Acts of the General Assembly, 1876
Volume 199, Page 432   View tiff image (54K)
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432

LAWS OF MARYLAND.
 

CHAPTER 260.

 

AN ACT to provide for the general valuation and

 

assessment of property in this State.

 

SECTION 1. Be it enacted by the General Assembly of

 

Maryland, That all interest, shares, or proportions in

Liable to tax-
ation.

all ships or other vessels, whether in or out of port,

 

owned by residents of this State; all shares of stock,

 

or shares in any bank, State or national, or in any

 

company or corporation, incorporated by, or located

 

in, and doing business in this State, whether owned

 

in this State, or elsewhere; all shares of stock, or

 

shares in any bank, State or national, or in any com-

 

pany or corporation incorporated by, or located in,

 

and doing business in any other State, or. in any ter-

 

ritory or country, owned by residents of this State;

 

all bonds made by any corporation or by any other

 

State, or by any territory belonging to residents of

 

this State; all investments in securities or stocks of

 

any other State, territory or country; all investments

 

in private securities of every kind, nature and de-

 

scription, belonging to residents of this State, except

 

mortgages upon property in this State, and the mort-

 

gage debts respectively secured thereon, and all prop-

 

erty of every kind, nature and description within this

 

State, shall be liable to valuation, assessment and tax-

Exception.

ation, except as provided in the next ensuing section

 

of this act.

 

SEC. 2. And be it enacted. That the fol lowing prop-

 

erty is expressly exempted from State, county or

 

municipal taxation; property belonging to the United

Exempted.

States, or to this State, or to any county or incor-

 

porated city or town in this State; houses or build-

 

ings used exclusively for public worship, and the

 

furniture contained therein, and the ground which

 

the said houses or buildings so exclusively used for

 

public worship shall actually cover; graveyards,

 

cemeteries paying no dividends, and burying grounds

 

set apart for the use of any family, or belonging to

 

any church or congregation; the crop or produce of

 

any land in the State in the hands of the producer,

 

or his agent; provisions kept for the use and con-

 

sumption of the family of the person to whom the



 

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Proceedings and Acts of the General Assembly, 1876
Volume 199, Page 432   View tiff image (54K)
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