Page 48 - index

MUNICIPAI. LAW. : 47
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23. Pergonal property I'liual to the (k'bt.s owing ti]K)n .such property i.s
t!xeiript. Debts securi'd by mortgage u])()ii hi.s property, or the unpaid
account of the purchase money do not secure exemption to tl\eir extent.
24. The net personal property to the vahie of !510() is exempt.
2."). The annual income of any person not exceeding 8700 derived from
his personal earnings, and the annual income of any person to the amount
of !|5-tOO derived from any other source are exempt. No greater sum than
$700 shall be exempt vvhethei' derived from earnings, income or both
combined.
2(). Kental or other income derived from i-eal estate, except interest
(Ml mortgage.
27. Household effects, books and wearing ap])arel.
2.S. Steamboats, sailing vessels, tow barges and tug.s. But the income
derived from such ])ro))erty shall be liable to be assessed.
29. Patent rights cainiot be assessed as ))er.sonal ])roi)erty, but the
income derived from a patent is assessable.
'HKl. Farm Lands in Towns and villages used as such only, and in
blocks of not less than five acre.s, by any one person, shall be a.s.se.ssed as
farm lands, whetlu'r it has l)een divided into lots oi- not, with such percent- I',
age addled as its situation reasonably calls f(jr.
The Council is also I'ecjuired annually, at least two months before
striking the rate of taxation for the ^-ear, to pass a by-law declaring what part
Hi!
of said lands shall be exempt (jr partly exempt from taxation for water
works, fire protection, sidewalks, sowers, street watering, lighting, etc.
They are not exem])t from the genei-al rate for the payment of debentures
Nail;
contracted before the 14th day of April, 1892, or renewals of them.
?J04. Income Exemption need not be accepted by any person who »m
wi.shes to be assessed for the same to entitle him to a vote, or for other m
cause, and in such case .shall be asses.sed.
?405. Property of Non-resident. All real property within but owned
out of the Province, is liable to assessment or exemption, as the case may
be, as other property : ,so al.so personal property in control of an agent for
a non-resident.

DUTIES OF ASSESSOR.
S04». Assessment Rolls. Every asses.sor shall prepare an assessment
roll, in which the following information shall be entered
1. The names and surnames in full, if the same can be ascertained,
of all taxable jiersons resident in the municipality who have taxable
property therein :
2. And of all non-resident owners who have given the required
notice to the Clerk to have his name entered on the Assessment Roll for
property held within the municipality
;
3. The description and extent or amount of property assessa- .e
against each.
Property must not be assessed in the name of a deceased person ; but