THE PROPERTY TAX.

Globe, Volume XXII, Issue 2046, 14 September 1880, Page 3

THE PROPERTY TAX.

[Br Telbgeaph.] [FROM OTO OWN OOHBBSrOITDBira.J WELLINGTON, September 13. The new schedule for the property tax was finally adopted at a meeting Executive Council this afternoon, and it will be gazetted immediately. The new sohedule ia much the same in the general form as that which I telegraphed last week, with the important difference that the amount of debts for which exemption is claimed is to be stated, both the gross and net value of property being specified. Freehold, leasehold and personal property, are all to be stated separately. The value may be stated at the aggregate value or separately for each property. A general description is to be given of the property stating the locality and area of land in all oases where possible. Personal property includes all property of whatever nature not comprised in the definition of "properly." It is alao described as "all other property, including debts owing to me at their estimated value, mortgages, liens, bills of sale, annuities, debentures, or other securities for money, household furniture, jewellery, plate works of art, live stock of all kinds, produce, merchandise, stock-in-trade, plant, machinery, cash, and everything else I possess, except vessels, agricultural implements in actual use, life insurance policies, shares in publio companies, and any other property exempt from taxation under the above Aot." The debts for which exemption is claimod are to be explicitly stated and classed as follows :—" (1) Existing mortgages on real property owned by me. (2) All other debts and liabilities owing by me for whioh I claim exemption, and not included in tho preceding statement as to mortgages." The schedules are to be returned on or before October 25th. The delay has been owing to tho difficulty in providing for the exemption of debts without making the forme too inquisitorial on one hand or too lax on the other. They will be distributed forthwith. The following foot-note is appended : —(1) This statement may be sent free by post to tho Deputy-Commissioner, and must be sent not later than October 25th. (2) Trustees and agents of persons temporarily or permanently absent from the colony, are required to rendor statements of properties for whioh they are trustees or agents (see sections 19 and 20 of the Aot of 1879). The above form may be altered or varied by agents or trustees in such manner as may be necessary to show who is the person beneficially interested in the property."