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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, Digitized from Best Copy Available

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