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CHAPTER 260.
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AN ACT to provide for the general valuation and
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assessment of property in this State.
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SECTION 1. Be it enacted by the General Assembly of
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Maryland, That all interest, shares, or proportions in
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Liable to tax-
ation.
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all ships or other vessels, whether in or out of port,
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owned by residents of this State; all shares of stock,
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or shares in any bank, State or national, or in any
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company or corporation, incorporated by, or located
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in, and doing business in this State, whether owned
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in this State, or elsewhere; all shares of stock, or
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shares in any bank, State or national, or in any com-
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pany or corporation incorporated by, or located in,
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and doing business in any other State, or. in any ter-
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ritory or country, owned by residents of this State;
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all bonds made by any corporation or by any other
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State, or by any territory belonging to residents of
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this State; all investments in securities or stocks of
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any other State, territory or country; all investments
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in private securities of every kind, nature and de-
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scription, belonging to residents of this State, except
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mortgages upon property in this State, and the mort-
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gage debts respectively secured thereon, and all prop-
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erty of every kind, nature and description within this
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State, shall be liable to valuation, assessment and tax-
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Exception.
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ation, except as provided in the next ensuing section
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of this act.
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SEC. 2. And be it enacted. That the fol lowing prop-
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erty is expressly exempted from State, county or
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municipal taxation; property belonging to the United
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Exempted.
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States, or to this State, or to any county or incor-
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porated city or town in this State; houses or build-
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ings used exclusively for public worship, and the
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furniture contained therein, and the ground which
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the said houses or buildings so exclusively used for
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public worship shall actually cover; graveyards,
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cemeteries paying no dividends, and burying grounds
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set apart for the use of any family, or belonging to
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any church or congregation; the crop or produce of
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any land in the State in the hands of the producer,
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or his agent; provisions kept for the use and con-
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sumption of the family of the person to whom the
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