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thereafter as may be practicable, at the fair and clear market value thereof at that time; provided, however, that when such estate, income or interest shall be of such a nature that its fair and clear market value can not be ascertained at such time, it shall be appraised in like manner at the time when such value first becomes ascertainable. Estates in expectancy which are contingent or defeasible shall be appraised at their full, undiminished value when the persons entitled thereto shall come into the beneficial enjoyment or possession thereof, without diminution for or on account of any valuation theretofore made of the particular estates for purposes of taxation, upon which said estates in expectancy may have been limited. The value of every future or limited estate, income, interest or annuity dependent upon any life or lives in being, shall be determined by the rule, method and standard of mortality and value employed by the superintendent of insurance in ascertaining the value of policies of life insurance and annuities for the determination of liabilities of life insurance companies, except that the rate of interest for making such computation shall be five per centum per annum. In estimating the value of any estate or interest in property, to the beneficial enjoyment or possession whereof there are persons or corporations presently entitled thereto, no allowance shall be made in respect of any contingent incumbrance thereon, nor in respect of any contingency upon the happening of which the estate or property or some part thereof or interest therein might be abridged, defeated or diminished; provided, however, that in the event of such incumbrance taking effect as an actual burden upon the interest of the beneficiary, or in the event of the abridgment, defeat or diminution of said estate or property or interest therein as aforesaid, a return shall be made to the person properly entitled thereto of a proportionate amount of such tax in respect of the amount or value of the incumbrance when taking effect, or so much as will reduce the same to the amount which would have been assessed in respect of the actual duration or extent of the estate or interest enjoyed. Such return of tax shall be made in the manner provided by section two hundred and twenty-five of this article. Where any property shall, after the passage of this act, be transferred subject to any charge, estate or interest, determinable by the death of any person, or at any period ascertainable only by reference to death, the increase of benefit accruing to any person or corporation upon the extinction or determination of such charge, estate or interest

f

shall be deemed a transfer of property taxable under the provisions of this act in the same manner as though the person or corporation beneficially entitled thereto had then acquired such increase of benefit from the person from whom the title to their respective estates or interests is derived. When property is devised or bequeathed in trust for persons in succession who are all liable to taxation at the same rate, it shall be lawful for the trustees thereof to pay out of the principal of the trust fund or property the taxes to which the particular estates and the expectant estates limited thereon may be respectively liable; and when such remainders or expectant estates shall be of such a nature or so disposed and circumstanced that the taxes thereon shall not be presently payable under the provisions of this act, or when property is devised or bequeathed in trust for persons in succession who are not liable at the same rate; or where some of the persons taking in succession are exempt, it shall, nevertheless, be lawful for county treasurers and the comptroller of New York city, by and with the consent of the comptroller of the state, expressed in writing, to agree with such trustees and to compound such taxes upon such terms as may be deemed equitable and expedient and to grant discharges to said trustees upon payment of the taxes provided for in such compositions; provided, however, that no such composition shall be conclusive in favor of such trustees as against the interest of such cestuis que trustent as may possess either present rights of enjoyment or fixed, absolute and indefeasible rights of future enjoyment, or of such as would possess such rights in the event of the immediate termination of particular estates, unless they consent thereto, either personally when competent, or by guardian or committee. Such compositions when made shall be executed in triplicate and one copy shall be filed in the office of the comptroller of the state, one copy in the office of the surrogate and one copy be delivered to the trustees who shall be parties thereto.

§ 7. Section two hundred and thirty-two of said act is hereby amended so as to read as follows:

§ 232. Determination of surrogate.-The report of the appraiser shall be made in duplicate, one of which duplicates shall be filed in the office of the surrogate and the other in the office of the state comptroller. From such report and other proof relating to any such estate before the surrogate, the surrogate shall forthwith, as of course determine the cash value of all estates and the amount of tax to which the same are liable; or the surrogate may so deter

mine the cash value of all such estates and the amount of tax to which the same are liable, without appointing an appraiser. The superintendent of insurance shall, on the application of any surrogate, determine the value of any such future or contingent estates, income or interest therein limited, contingent, dependent or determinable upon the life or lives or persons in being, upon the facts contained in any such appraiser's report, and certify the same to the surrogate, and his certificate shall be conclusive evidence that the method of computation adopted therein is correct. The comptroller of the state of New York or any person dissatisfied with the appraisement or assessment and determination of tax, may appeal therefrom to the surrogate, within sixty days from the fixing, assessing and determination of tax by the surrogate as herein provided, upon filing in the office of the surrogate a written notice of appeal, which shall state the grounds upon which the appeal is taken. The surrogate shall immediately.give notice, upon the determination by him as to the value of any estate which is taxable under this article,' and of the tax to which it is liable, to all parties known to be interested therein, including the state comptroller. Within two years after the entry of an order or decree of a surrogate determining the value of an estate and assessing the tax thereon, the comptroller of the state may, if he believes that such appraisal, assessment or determination has been fraudulently, collusively, or erroneously made, make application to a justice of the supreme court of the judicial district in which the former owner of such estate resided, for a reappraisal thereof. The justice to whom such application is made may thereupon appoint a competent person to reappraise such estate. Such appraiser shall possess the powers, be subject to the duties and receive the compensation provided by sections two hundred and thirty and two hundred and thirty-one of this article, Such compensation shall be payable by the county treasurer or comptroller, out of any funds he may have on account of any tax imposed under the provisions of this article, upon the certificate of the justice appointing him. The report of such appraiser shall be filed with the justice by whom he was appointed, and thereafter the same proceedings shall be taken and had by and before such justice as herein provided to be taken and had by and before the surrogate. The determination and assessment of such justice shall supersede the determination and assessment of the surrogate, and shall be filed by such justice in the office of the state comptroller and a certified copy thereof transmitted to the surrogate's court of the proper county.

Chap. 286.

AN ACT to provide for the widening and improving of highways in
towns having a total population of eight thousand or more inhabit-
ants and containing an incorporated village having a total popula-
tion of not less than eight thousand and not more than fifteen
thousand inhabitants.

Became a law April 16. 1897, with the approval of the Governor.
Passed, three-fifths being present.

The People of the State of New York, represented in Senate and
Assembly, do enact as follows:

for com

etc.

thereof.

Section 1. In any town, having a total population of eight thous Petition and or more inhabitants and containing an incorporated vil- missioners, lage having a total population of not less than eight thousand and not more than fifteen thousand inhabitants, except in the county of Madison, any five or more persons owning lands adjoining or abutting on any highway, which extends within. the limits of such town and without the limits of such incorporated village for a distance of at least two and one-half miles, may present to the supreme court, at a special term thereof to be held in the county containing said town, a petition for the appointment of three commissioners for the purpose of widening and improving such highway or a certain specified portion thereof not less than two miles and a half in length, such portion being wholly without the limits of such incorporated village. Such petition shall describe Contents the part of the highway proposed to be widened and improved. by stating its location and the length and limits of the portion thereof proposed to be widened and improved, and shall state the width of the proposed widening and the character of the proposed improvement, and shall also state and give the exterior lines of said portion of said highways as proposed to be made by such widening, and shall have annexed thereto a diagram or map showing such proposed exterior lines. Such petition shall be signed by all of the petitioners and verified by at least three of them. Notice Notice of of the presentation of such petition to such court shall be given by tion of the petitioners by publishing such notice in two newspapers published in such town, if there be such newspapers published therein, and if not in two newspapers published in such county, once in each week for two weeks successively preceding the day of such presentation. Such notice shall be signed by at least three of said petitioners and shall set forth the time and place when such presenta tion will be made and that the same will be made pursuant to this

presenta

same.

Appointment of commissioners.

act. Upon such presentation such court shall, after hearing any person interested or claiming to be interested in any land within such town, who may appear, appoint three disinterested persons, who shall not reside or be freeholders within such town, as commisVacancies. sioners. And in case any of such commissioners shall at any time decline to serve or die or for any cause become disqualified or disabled from serving as such, the said court, at a similar special term, may upon similar notice and application and hearing, appoint another or other persons similarly qualified to fill the vacancy or vacancies and to act in their place and stead.

Oath of office.

tion of

§ 2. The said commissioners shall take the oath of office prescribed by the constitution of this state, which oath shall be filed in the office of the town clerk of said town, and a copy thereof, certified Examina by such clerk, in the office of the county clerk of such county. The highway. commissioners shall then proceed with all reasonable diligence to examine such highway and the portion thereof proposed by said petition to be widened and improved and the lands adjoining or abutting on such portion, and may enter upon said lands for such purpose. After having made such examination they shall appoint a time and place within said town for a meeting to hear all persons Notice of interested in such widening and improving. They shall cause notice of such meeting to be given by publishing a notice, stating the time and place of such meeting, in at least two newspapers published in said town, if such there be, and if not, in two newspapers published in said county once in each week for two weeks successively next preceding the day of such meeting. At such meeting they shall hear the proofs and allegations of any party interested or claiming to be interested who may appear; and they shall have power to Decision of adjourn such meeting from time to time for such purpose. The

hearing.

commissioners.

Duties cease upon

cision.

said commissioners shall thereafter and with all reasonable diligence determine whether or not such proposed widening and improving shall be made. They shall make and sign duplicate certificates of their decision and file one of such certificates in the town clerk's office of said town and the other in the county clerk's office of such county.

§ 3. If the said decision of such commissioners shall be against adverse de- the making of such widening and improvement, their duties under this act shall cease and they shall be entitled to receive from and be paid by such town for their services at the rate of five dollars a day Proceed- not to exceed one hundred dollars; but if such decision shall be in

ings upon

favorable favor of the making of said widening and improvement, then the

decision.

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