The Oamaru Mail SATURDAY, APRIL 17, 1880.

Oamaru Mail, Volume IV, Issue 1248, 17 April 1880, Page 2

The Oamaru Mail SATURDAY, APRIL 17, 1880.

At sncli a time as the present, to put our readers in possession of a few particulars concerning the Property Tax and Property Assessment Acts will be opportune. Tlic first-mentioned measure provides that the tax will be levied from the first day of April, ISSO, and paid in two equal instalments on such days as the Governor in Council may appoint, as follows: —On all kinds of property, Id in the £ ; on fire, marine, or guarantee policies issued by any insurance company, for every LI 00 of premiums received by such company in the said year on account of such policies, 30s" The Property Assessment Act provides as follows :—The Colony is to be divided into districts for the purposes of the Act. Officials will be bound to an oath of secrecy under a penalty of imprisonment for any term not exceeding twelve months, with or without hard labor. All property within the Colony of which any person lis the owner shall be liable to taxation in respect of so much of the value as shall exceed L-500. Companies will be liable to taxation on their capital, viz., the balance of assets over liabilities, but amounts received for shares issued shall not be reckoned as liabilities, and the assets of a company shall be the i marketable value of the property, and shall not include paid-up ! capital. Banking companies, whose ihead offices are within the Colony, ! or are principally carrying on business i here, shall be assessed in the amount of I their capital actnally paid up, added to the amount of the accumulated undivided profits. Banking companies, the principal offices whereof are not ! within the Colony, or are not principally carrying on business here, shall I be assessed in a sum equal to one-eighth I of the total amount of their assets and ! liabilities in New Zealand, taking the average of such assets and liabilities for the 12 months previous to making the assessment, as shown in the Gazette's periodical returns. Foreign companies carrying on the business of advancing money within the Colony, shall be assessed only on the amount of their paid-up capital and accumulated undivided profits employed within the C'olonv. Insurance companies will be chargeable by way of tax with a sum to be calculated" at a certain rate pet* centum upon the total amount of premiums received in each year in respect of policies, after deducting the total amount of premiums paid by the companies in the same year in respect of rc-insurance of the said policies. Mortgagors shall be liable to taxation only on the difference in the whole value of the land mortgaged and the amount advanced on mortgage. Mort£ja f *oi*s are to give in their statements full particulars of all moneys advanced by them on mortgage of land. Eveiy sxteh mortgagee, not exempt or belonging to a company, shall be liable to taxation 011 the value of hi» mortgage. Notwithstanding the sale, transfer, or conveyance of real property, such property shall be liable for the payment of the "tax. The following are the exemptions :

All agricultural implements in actual use; All property of the Crown, or of any local body, or cf any company or society of persons not formed wholly or mainly for the purpose of gain or profit divisible amongst the shareholders ; All churches and other places used exclusively for public worship ; All property of, or invested in, any body or persons for public charitable, or public educational purposes; All property of, or invested in, any public body, society, or persons and used only for the purposes of public health, or recreation; All public reserves of whatever nature made under any law granted to, or vested in, any body or persons ; AH property of Maoris ; All property owned in reversion, re- | mainder, or expectancy of any kind, the owner thereof not having any present beneficial interest therein at the time an assessment is made thereof; All vessels of every kind ; All policies of life assurance, —except as hereinafter mentioned.

The interest of any person, or tenant, or occupier of any property that is exempt from taxation shall be assessed at its value, and every person shall be liable to taxation accordingly. The same rule applies to tenants, other than Maoris, on Maori lands. Persons liable to the tax are to supply their own statements, atul declare to the j truth thereof. Any person obstructing an officer of the tax department, or I refusing or neglecting to answer ques- | tions put by any officer relating to any 1 property belonging to such person, or giving an evasive answer, shall be liable*to a penalty not exceeding LSO. Any person who states in any declaration anything that he knows to be untrue, "shall be treated as a perjurer. Assessment liolls are to be made out for each borough and road district, and it is to be publicly announced that the &tnie are lying at the Deputy Commissioner s office, and that objections thereto are to be seut into him on or before a certain date. The Deputy Commissioner shall not* suffer any person to inspect the rolls, but will answer the questions of any person whose names are on any roll. Sealed notice of

assessment to be sent to persons affected* but omission to send such notice shall not invalidate assessment. Any person, on the Commission or Deputy-Commis-sion, may object to any assessment. No objections from persons other than the Commissioners are to be entertained, if not sent in "within the time specified for hearing objections. A Board of Heviewers, consisting of three persons, of which the Commissioner may be one, shall hear and finally settle objections. The Commissioner may add to or amend any roll which is in force; but, although he may decrease, he cannot increase the amount of any assessment. EYery person interested in any assessmentroll shall be entitled to have his objections heard in an R.M. Court. If taxes are not paid within the time specified in a public notification, and after demand by letter from the DeputyCommissioner, 10 per cent, will be added to the amount until it can be secured in a court of law. When sufficient goods or chattels are not available to pay the tax land may be sold in payment of the same, provided that taxes are in arrears for three months or upwards, after the expira- | tion of six months from the date of notice. A summons for amount of taxes on an unknown owner may be posted on land 3 but if the owner cannot be reached, proceedings may be taken against the tenant for the recovery of the tax. Any person paying the tax may recover from the person liable therefor,