property, shall be the basis of the assessment, but, if otherwise, or if the building, during the previous year, has been occupied by the owner thereof, or has not had a known marketable rental value, or an established rental value by comparison with similar buildings actually rented in the immediate neighborhood then the rent shalt be esti mated at a sum equal to ten per cent of the value of the building.

§ 3. The building, for the purpose of estimating the building occupancy valuation, shall be deemed to include the land upon which it is constructed, and so much of the unbuilt portion of the lot as is usually used as a yard, or court-yard, or a means of convenient access and occupancy of the building, for the purpose for which it is used, but not to exceed one acre of land adjacent or contiguous to one main building, and the main building shall be deemed to include all stables, barns or other out-buildings on the same lot of land.

§ 4. The building occupancy valuation shall be assessed in one aggregate sum for all occupied buildings, liable to assessment, in amount equal to three times the rent or rental value of the parts thereof occupied for the previous year, on each lot or quantity of land entered in the assessment roll, and said aggregate building occupancy valuation shall be entered thereon on the same line as the real estate valuation, but in a separate column, under the caption of "building occupancy valuation."

ARTICLE SECOND.

Manner of Assessing the Shares and Corporate Franchises of specified
Moneyed Corporations.

SEC. 1. Manner of assessing and collecting tax on shares of certain moneyed corporations.

2. The tax may be recovered by the corporation from divi-
dends or shareholders' property in the corporation.

3. Lists of shareholders open to the inspection of assessors.
4. Assessment of the privileges of foreign fire insurance com

panies.

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SECTION 1. The shares and corporate franchises of the moneyed corporations or associations enumerated in divisions 1, 2, 3 and 4, of section 3, title 1 of this chapter (national and State banks, and individual bankers doing business under the general banking law of this State, trust companies, and other corporations of this State divided into shares, and authorized to receive deposits, and fire, inland and marine insurance companies), shall be liable to taxation in the town or ward in which said corporation shall be located, on the par amount

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of said shares, less the proportionate value of the real estate belonging to said corporations, but the assessment shall be made on the assessment roll, in the name of each corporation, in one sum, less the value of the real estate belonging to such corporation, for the shares and corporate franchises of said corporation, and the tax shall be paid by the corporation, and in default of payment the same remedies shall be enforced against the corporation as for the collection of other taxes.

§ 2. The shares of such corporations or associations, made liable to taxation, shall be subject to the tax paid thereon by the corporation or the officers thereof, and said officers may retain so much of any dividend or dividends belonging to stockholders as may be necessary to pay any taxes assessed under this title, and the corporation and the officers thereof shall have a lien on all the shares in the corporation or association, and on all the rights and property of the shareholders in the corporate property for the payment of said taxes.

§ 3. There shall be kept at all times, in the office where the business of such corporation or association shall be transacted, a full and correct list of the names and residences of all the stockholders therein, and of the number of shares held by each; and every individual banker doing business under the general banking law of this State shall keep a list of the amount of his capital, and if he has partners, the amount of their capital invested in such banking business; and each $100 of such capital, for the purpose of this act and for the purpose of taxation, shall be held and regarded as one individual share in such banking business; and the aforesaid lists shall be subject to the inspection of the officers authorized to assess taxes, during the business hours of each day in which business may legally be transacted.

§ 4. Every foreign fire insurance company, as defined in chapter 888 of laws of 1871, shall be assessed and taxed on the privilege of doing business in this State, at the place of the principal office of said company in this State, at a sum equal to the capital as certified, according to the provisions of said chapter 888 of Laws of 1871.

ARTICLE THIRD.

Of the Manner of Assessing Real Estate.

SEC. 1. Persons to be assessed in town or ward where they reside for lands in such town, etc.

2. If land occupied by another person, it may be assessed in name of owner or occupant, or as the land of a nonresident.

3. Unoccupied lands not owned by residents denominated "lands of non-residents."

4. No tax void in consequence of error in name of owner, occupant or classification of land.

5. Real estate of incorporated companies, where taxed.

6. Where land and bridges to be assessed when divided by division line of town.

7. Manner of assessing water and gas pipes owned by incorporated companies.

8. The assessment of real estate of railroads, including superstructure, in public highways.

9. Duty of town assessors to apportion railroad valuation
among school districts.

10. The apportionment shall be filed in town clerk's office.
11. In case of neglect of assessors, the supervisors shall make
an apportionment.

12. Town clerk shall furnish certified statement of railroad

apportionment and location.

13. In case of alteration of school district, who may change the railroad apportionment.

14, 15, 16. Manner in which lands of non-residents are to be designated in the assessment roll.

17. When necessary, assessors to have survey made of the lands of non-residents.

SECTION 1. Every person shall be assessed in the town or ward where he resides, when the assessment is made, for all lands then owned by him within such town or ward, and occupied by him or wholly unoccupied.

§ 2. Lands occupied by a person other than the owner may be assessed to the owner or occupant, or as lands of non-residents.

§ 3. Unoccupied lands, not owned by a person residing in the ward or town where the same are situated, shall be denominated "lands of non-residents," and shall be assessed as hereinafter provided.

§ 4. No tax or assessment shall be void in consequence of any lands being erroneously classed or omitted from classification as the lands of non-residents, or as the lands of unknown owners, nor in consequence of the omission of the name of the rightful owner or occupant on the assessment roll, but in such cases no tax shall be collected except from the real estate assessed.

§ 5. The real estate of all incorporated companies, or the real

estate of which said companies may be occupants, may be assessed to said companies in the town or ward in which the same may be situated, in the same manner as the real estate owned or occupied by individuals, residents of the town or ward, is assessed.

§ 6. When the line between two towns or wards divides a farm or lot, or divides any bridge owned by any company, corporation .or individual, each part shall be assessed in the town or ward in which the same shall be situated.

§ 7. All gas and water pipes owned by any incorporated gas or water company, and laid in any public streets or grounds, or laid in any private lands or grounds, shall be assessed to said company at the full value thereof, for the purpose used. The valuation of said gas or water pipes shall be entered in the column of real estate valuations, on the assessment roll, in one sum, for all the gas or water pipes belonging to any incorporated company, in the district for which the assessment may be made, and the words "gas pipes" or "water pipes" shall be entered in the column of quantity or description of lands.

§ 8. In fixing the valuation of the real estate of any railroad corporation, the assessors shall estimate the property for the purpose used, and as part of a complete and continuous line of railroad, including the value, at the time, of the assessment, of all tracks, roadbeds, embankments, cuts, lands, buildings, culverts, bridges and superstructures, and superstructures shall include all iron chairs, rails, spikes, frogs and switches laid or affixed to any public streets, highway or public ground, and said superstructure, in public grounds or highways, shall be entered on a separate line of the assessment roll, the valuation entered in the column of real estate valuations, and the words "superstructure in public grounds" entered in the column of quantity or description of land.

§ 9. It shall be the duty of the town assessors, within fifteen days after the completion and review of their annual assessment list, to apportion the valuation of the property of each and every railroad company which appears on such assessment list, among the several school districts in their town in which any portion of said property is situated, giving to each of said districts its proper portion, accord ing to the proportion that the value of the said property in each of such districts bears to the value of the whole thereof in said town.

§ 10. Such apportionment shall be in writing, and shall be signed by said assessors or a majority of them, and shall set forth the numbers of each district and the amount of the valuation of the property

of each railroad company, apportioned to each of said districts; and such apportionment shall be filed with the town clerk by said assessors or one of them, within five days after being made; and the amount so apportioned to each district shall be the valuation of the property of each of said companies, on which all taxes against said companies in and for said districts shall be levied and assessed, until the next annual assessment and apportionment.

§ 11. In case the assessors shall neglect to make such apportionment, it shall be the duty of the supervisor of the town, on the application of the trustees or board of education of any district, or of any railroad company, to make such apportionment in the same manner and with the like effect as if made by said assessors.

§ 12. The town clerk shall, whenever requested, furnish to the trustees or board of education of each district, a certified statement of the amounts apportioned to such district, and the name of the company to which the same relates.

§ 13. In case any alteration shall be made in any school district, affecting the property of any railroad company, the officer or officers making such alteration shall, at the same time, determine what change in the valuation of the said property in such district would be just on account of the alteration of the district, and the valuation shall be accordingly changed.

14. The lands of non-residents shall be designated in the same assessment roll, but in a part thereof separate from the other assessments, and in the manner prescribed in the two following sections.

§ 15. If the land to be assessed be a tract which is subdivided into lots, or be part of a tract which is so subdivided, the assessors shall proceed as follows:

1. They shall designate by its name, if known by one, or if it be not distinguished by a name, or the name be unknown, they shall state by what other lands it is bounded.

2. If they can obtain correct information of the subdivisions, they shall put down in their assessment rolls, and in a first column, all the unoccupied lots in their town or ward, owned by non-residents, by their numbers alone and without the names of their owners, beginning at the lowest number and proceeding in numerical order to the highest.

3. In a second column, and opposite to the number of each lot, they shall set down the quantity of land therein liable to taxation.

4. In a third column, and opposite to the quantity, they shall set down the valuation of such quantity.