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An Act to amend the Revenue Laws of this State. 1847-1848 253 (1847)

handle is hein.slavery/ssactstn0145 and id is 1 raw text is: 253

CHAPTER CLXI.
An Act to amend the Revenue Laws of this State.
Be it enacted by the General Assembly of the State of
Tennessee.
SECTION 1. A yearly tax of one mill in the dollar
shall be assessed upon the value of all lands, town lots, Taxofonemil
slaves, jewelry, pianos forte, pleasure carriages, gold in the dollar.
and silver plate, watches, capital loaned or deposited at
interest, turnpike gates or roads, and bridges, and
stocks, except such of said property as may be exempt
-from taxation. Twenty per cent-of all the revenue
raised and collected under the provisions of this act,
shall constitute a sinking fund, in addition to.the sinking How appro-
funds heretofore created by law, and shall be applied, priated.
first, to the repayment to the Bank of Tennessee of the
sum of one hundred and twenty-five thousand dollars
paid by said Bank, in the redemption of the bonds of
the State issued for stock in the Union Bank, under the
provisions of an act, passed at this session of the Gen-
eral Assembly-second, to the redemption of the bonds
of the State now outstanding or that may hereafter be
issued by authority of law.
SEc. 2. The following property shall be exempt from Wht exempt
taxation, viz:                                    from taxation.
Land held for any religious society, for the pur-
pose of having thereon a church, meeting-house, or oth-
er building for public worship.
Land appropriated for the use of schools.
Land held in trust for the use of a College, Acade-
my, or other seminary of education.
All court-houses, jails, poor-houses, alms-houses, and
all the real and personal property belonging thereto.
All public roads, streets, alleys, promenades and
walks in the different towns and grave-yards.
All slaves under twelve and over fifty years of
age.
All jewelry kept by jewelers and merchants for
sale.
All pianos forte, used in schools and academies.
All carryalls.
All silver tea and table spoons.
All stocks owned by the State, o- by literary, reli-
gious, or charitable institutions.
All capital stock or property of all such incorpo-
rated companies as are exempt from taxation in their
respective charters.
SEC. 3. The term land, as used in the first section,

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