THE PROPERTY TAX.

Globe, Volume XXIII, Issue 2325, 16 September 1881, Page 4

THE PROPERTY TAX.

IBr Telboraph. 1

[PEOiI THE OWN OOBEKSPOKDENT OP THU “ PEE3S ’ ]

WELLINGTON, September 15 The Property Assessment Act Amendment Bill was circulated to-night. It makes the following amendments in the Properly Assess meet Act, 1870 :-(l) The words “and not portions only thereof ” in the fourth line of the third section are struck out, and the words “or portions of suoh outlying districts ” inserted in place. (2) The words “or of any society register-u under too Building Societies Act, 1870,” added to sub-section tw of section twenty-six. (3) The word “lists ” in the first line of the forty-first section is struck out, and the words “assess mont ” inserted in place, and all words from “bv” in the second lino of the section to “roll ” in the fourth line was struck out, and the words “and each other division of a district ” inserted after the word “district” in the seventh lino of the said section, (4) The words from “ signed ” in the second lino of the forty-fifth section to word “copy ” in the fourth line are struck out, and the words “same signed by commissioner ” inserted in lieu. (5) The words “ provided that not less than fourteen days’ notice shall be given of the holding of the first meeting of the Beard for the hearing of objections,” are added to section fifty-nine. (6) After the word “ directed,” in the second lino of the seventy-fourth section, the words, “or copy of or extract from such roll, or of ary entry made therein, certified by the commissioner or deputy commissioner to be a true copy or extract,” are inserted. (7) The words “ demand by notice in writing by deputy-commissioner,” in the second and third lines of the seventy seventh section, are struck out, and the words “due date” inserted in place thereof. The Governor in Council may from time abolish any district or districts, or create new districts. The oath required may be taken before a B.M. Statements required to bo made on behalf of companies shall, except in the case of banking or insurance or gold mining companies, be to the same effect as those required from persons, and wherever the word " person” occurs and does not include a company, the words “or company” shall be deemed to be added after the word “person;” provided always that the property and debts of any suoh company shall be returned in such statement at the same value and amount for purposes of assessment as are expressed in their last balance sheet issued to the shareholders, prior to the date to which such statement relates, and a copy of their balance sheet shall be attached to the statement. Statements of- property to be made as at twelve o’clock noon on Ist October. Property to bo stated and assessed at full cash value. Statements of property by persons are to bo furnished every third year, commencing in 1883, and by companies in every year, commencing in 1831. A statement for goldmining companies shall, in lieu of stating the property of the company, state the marketable value of the shares actually issued, and how many shares, and property tax shall be payable on the amount ol all such shares at the marketable value. Liability secured on real or personal properly, or incurred for the purchase of goods not in the colony, or a person not a Icna fide resident in the colony is net to bo deducted. Goods on consignment are to be included in a statement of a consignee. The commissioner may purchase property at the value mentioned in the statement, unless the same be increased to fair value, the property to vest in the Crown on payment of the purchase money. A person dissatisfied with the assessment can compel the commissioner to purchase. The Colonial Treasurer may pay the purchase money without special appropriation. The powers, &0., of a deputy commissioner maybe exercised by the commissioner, and a deputy may be appointed for several districts. If any person fails, neglects, or refuses to do anything on the date or within the time when by" the Act he ought to do it, he is liable to a penalty of one hundred pounds. Sections 13, 15, 42, 52, 54, the proviso to section 24, all the words after the word “particulars ” in the 32nd section, and all words after the word “ one ” in the third line of the 58th section of the Property Assessment Act, 1879, are repealed.