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like manner as that of a domestic railroad or canal company. In re Railroad Co., 71 N. J. L. 128.
See In re Erie Railroad Co., 64 N. J. L. 123.
171. Sec. 7. That in case any railroad or canal company shall claim any deduction on account of any mortgage or debt secured thereby, the said board are hereby required to allow the same in the cases in which and to the extent to which the assessor is authorized by law to allow a deduction in the case of any other owner of mortgaged lands, and thereupon the said mortgage and the estate of the mortgagee in the land mortgaged shall be subject to taxation in the same manner, as nearly as may be, and at the same rate or rates, as the estate of the mortgagor; the deduction shall be made pro rata from the valuation of each class of property covered by the mortgage, and the amount received from the taxation thereof shall be distributed as if the tax had been paid by the mortgagor without deduction. (P. L. 1888, p. 273.)
172. Sec. 8. That if any railroad or canal company shall claim a deduction in any case in which such deduction could le claimed under the general laws of the State by other tarpayers for debts other than the deduction last hereinbefore Inentioned, the said board are hereby required to allow the same, and the said indebtedness so allowed shall be taxable as other debts owing to creditors residing in this State are taxable, and at the same rate; but the assessment thereof shall be made by said board and not by the local assessor, and the tax shall be paid to the treasurer of the State, to the credit of the fund derived from taxation under this act; the deduction shall be made pro rata from the valuation of each class of property of the debtor assessed, and shall be distributed as if the tax had been paid by the debtor without deduction; provided, that no deduction, either for mortgage or other indebtedness, shall be allowed unless the same shall be applied for in the report and statement required to be made pursuant to this act, and unless the nature of the indebtedness, and the name and residence of the creditor, and the different taxing districts in which the raortgaged land lies, shall be specified, and unless the other Terms imposed by the general laws of the State upon other taxpayers claiming deductions shall be complied with. (P. L. 1888, p. 273.)
173. Sec. 9. That the State Board of Assessors shall, upon State board the completion of their valuation and assessment, proceed to tax. compute the tax upon the entire assessed valuation of each railroad company and of each canal company, as ascertained by them; upon such valuation, each company shall pay to the State tax. State, for general State purposes, a tax at the rate of onehalf of one per centum annually upon each dollar of valuation, and the State Board of Assessors shall compute the same; each company shall also pay, in addition to said tax Local tax. of one-half of one per centum, a tax at the local rate as fixed and assessed for county and municipal purposes upon other property in each taxing district, upon the valuation of its property in the several taxing districts, separately valued and assessed under the provisions of subdivision two of section three of this act, which tax shall also be computed by the State Board of Assessors; but the last-mentioned rate limited, shall in no case exceed one per centum of the valuation of the property valued under the provisions of subdivision two of section three of this act; the sum of the estimates or computations for each company shall constitute the tax to be paid by each company and shall be a lien paramount to all other liens upon all the lands and tangible property and franchise of such company in this State; such lien shall take effect on the first day of November; and a copy of the Copy of valuation in detail of the property of each corporation and be served. of the tax assessed against the same under the provisions of this act, shall be served upon the treasurer of such corporation or left at his office within ten days after the said first day of November; but the failure to serve any such notice shall not be held to invalidate any tax assessed or affect any lien created under this act; said tax shall be a debt due from such company to the State on that date, for which an action at law or in equity may be maintained and which shall be a preferred debt in case of insolvency; these remedies are in addition to the special proceedings provided for in this act (a). (P. L. 1888, p. 274.)
(a) For later legislation as to rates, etc., see supplement of 1918 (P. L. 1918, p. 1078: par. 199, post). Of course, the duties of the old State Board of Assessors, mentioned in this section, have been assumed by the State Board of Taxes and Assessment. (See par. 166c, ante.)
174. Sec. 10. The said board shall certify and report to Comptroller of the State, on or before the first day of Novemher in each year, a statement of the assessed valuation of the property of each company in the State, and of the separate valuation of property in each taxing district, as made by them, the amount of tax payable by such company with respect to its property separately valued in each taxing district, and the aggregate assessed valuation, and the total tax levied upon each company; such statement shall be made separately for each company, and as to said property separately valued, shall be arranged by taxing districts in such manner as to be of easy reference, and shall be recorded in books in the office of the State Comptroller, to be provided by him for that purpose, and shall be public records, subject to public inspection; and the amount of taxables payable by each company, as shown by said statements, shall be due and payable into the State Treasury on any day between the said first day of November and the first day of February following; and the payment or collection thereof shall not be stayed by any writ or order of any court of law or equity; it shall be the duty of the State Treasurer to receive payment of the said taxes from the said companies; if the taxes of any company, or any portion thereof, remain unpaid on the first day of February following the levying thereof, such company shall be considered in default, and such taxes, or such unpaid portion thereof, shall thenceforth bear interest at the rate of one per centum for each month until paid, notwithstanding the prosecution of any writ of certiorari or other remedy (a). (P. L. 1888, p. 275, as amended by P. L. 1911, p. 434.)
When tax due.
Court processes not to stay payment.
Time of running of interest. The penalty of interest at the rate of one per centun per month upon taxes unpaid on the first day of February following their levy, provided by this section, is a remedy applicable to overdue taxes assessed under the
(a) See changes made by supplement of 1918 (P. L. 1918, p. 1078; par. 202, post). See also par. 205, post.
supplemental act of April 27, 1911 (P. L. 1911, p. 580; sec. 20a, post), but such penalty cannot by a supposed analogy to the existing legislation be made to run from an earlier date than that expressly fixed by the statute. Penna. T. & T. Co. v. Gummere, 87 N. J. L. 353.
NOTE.—The act of 1918, par. 202, post, changes the interest date to December 1.)
See State v. Canal Co., 76 N. J. L. 72; Canal Co. v. Baird, 75 N. J. L. 788.
Comptroller to transmit certificate to collector of
175. Sec. 11. That the money collected under this,act for Money colthe one-half of one per centum tax shall be applied to the act, how
applied. uses of the State, according to law; the amount received for tax upon property separately assessed in the different taxing districts is hereby appropriated, and shall be allotted to the various taxing districts, giving to each district the amount that was derived from the property of each railroad or canal company therein; the Comptroller shall transmit to the col- Comptroller lector of each county a certificate showing the amounts certificate to allotted to the taxing districts therein, and shall draw his each warrant upon the State Treasury, in favor of the several county collectors, for the amounts allotted to their several counties, and the county collector shall forthwith pay to the collector, or other proper officer of each taxing district, the amount allotted thereto, deducting, however, the amount due for county taxes from such taxing district; the amount ihus paid to the county and taxing district shall be at the disposal of the proper authorities for public purposes; prorided, however, that whenever the local city rate as fixed and Proviso. assessed in any city exceeds one per centum of the ratables of such city, then in such case the Comptroller shall transmit to the collector of taxes of said city a certificate showing the amount allotted to such city, and shall draw his warrant upon the State Treasurer in favor of the treasurer of such city for said amount; such warrant to be at the disposal of the board of such city having control of its finances, to be used for the municipal purposes of such city, such amount to be first applied to the purchase of such outstanding bonds or obligations of the city as can be brought below the par value thereof, and if no bonds or obligations can be bought below par, then such amount, or the balance, if any,
shall be applied to the payment of such part of the city debt and interest falling due thereon as the said board having control of the finances of the city may determine (b). (P. L. 1888, p. 276, as amended by P. L. 1888, p. 376.)
175a. Sec? 1. The taxes which shall be hereafter assessed upon the real estate used for railroad or canal purposes in each taxing district in this State separately valued and assessed under the provisions of subdivision two (2) of section three (3) of said act, when collected, shall be allotted to and paid over to the various taxing districts through which said railroads or canals run, giving to each such district the total amount of tax that may be so derived from the property of each railroad or canal company therein (a). (Supplement of 1897, P. L. 1897, p. 147, to P. L. 1888, p. 269.)
NOTE.—The following act (P. L. 1913, p. 1753), entitled “A supplement to an act entitled 'An act to establish a thorough and efficient system of free public schools, and to provide for the maintenance, support and management thereof,' approved October nineteenth, one thousand nine hundred and three," provides for the disposition of a portion of the railroad tax, and is here inserted for convenience of reference.
175b. Sec. 1. The tax assessed in each year by virtue of the provisions of subdivisions one, three and four of section three of an act entitled "An act to revise and amend 'An act for the taxation of railroad and canal property," approved April tenth, one thousand eight hundred and eightyfour," which act was approved March twenty-seventh, one
(6) See pars. 1750 to 175d and par. 203, post, for later enactments.
(a) See sec. 11 and supplement of 1918 (P. L. 1918, p. 1078; par. 203, post).