sitting as hereinbefore provided, and the same proceedings, so far as applicable, shall be observed as required in other cases provided in this act, except that the list when completed, shall be filed, in case of municipal elections, by the municipal clerk in his office as under the requirements of county clerks, and in case of municipal elections, the clerk of such incorporation shall draw his warrant on the treasurer thereof for the per diem of the registrar hereinbefore named.

SEC. 20. [Deposition of register-Cities second class.]-When any registrar shall resign or otherwise become disqualified, his book of registration shall be deposited with the county clerk of his county, and when the book of regis tration has been substantially filled, said registrar, upon depositing the same with the county clerk, is hereby authorized to draw another; Provided, The provisions of this act shall extend to and include the cities of Lincoln, Plattsmouth, Fremont and Nebraska City.

SEC. 21. [Registration in cities second class.-That so much of the act entitled "An act to provide for the registration of voters in cities of the first class, and certain cities of the second class," approved, February 27th, 1873, as applies to the cities of "Nebraska City," "Lincoln," and "Fremont," be and the same is hereby repealed. [1875 § 1, 206.]

CHAPTER 77.-REVENUE.

ARTICLE I.-GENERAL PROVISIONS.

SECTION 1. [Property taxable.]-The property named in this section shall be assessed and taxed, except so much thereof as may be in this chapter exempted: First. All real and personal property in this state. Second. Ali moneys, credits, bonds, or stocks, and other investments, the shares of stock of incorporated companies and associations, and all other personal property, includ ing property in transitu to or from this state, used, held, owned or controlled by persons residing in this state. Third. The shares of capital stock of banks and banking companies doing business in this state. Fourth. The capital stock of companies and associations incorporated under the laws of this state. [1879. § 1, 276.]

SEC. 2. [Property exempt.]-The following property shall be exempt from taxation in this state: First. The property of the state, counties, and mu nicipal corporations, both real and personal. Second. Such other property as may be used exclusively for agricultural and horticultural societies, for school, religious, cemetery, and charitable purposes; Provided, That in the assessment of real estate, encumbered by public easement, any depreciation occasioned by such easement shall be deducted in the valuation of such property; Provided, further, That the increased value of lands by reason of live fences, fruit and forest trees grown and cultivated thereon, shall not be taken into account in the assessment thereof.

SEC. 3. [School lands.]-School lands sold under any provisions of any law of this state, or such as have been heretofore sold, shall not be taxable until the right to a deed shall have become absolute, except the value of the interest of such purchasers shall be taxable, which interest shall be determined by the amount paid and invested in improvements on such lands; Provided, That the increased value of such improvements by reason of live fences, fruit and forest trees, grown and cultivated on such lands, shall not be taken into account in assessing the value of such improvements.

SEC. 4. [Personalty, how valued.]—Personal property shall be valued as follows: First. All personal property, except as herein otherwise directed,

SEC. 21. "An act to repeal the law requiring the registration of voters in certain cities of the second class." Laws 1875, 206. Took effect Feb. 11, 1875. ART. I. "An act to provide a system of revenue." Laws 1879, 276. Taking effect Sept. 1, 1879 "A act to provide for the assignment of tax certificate." Laws 1875, 109, being superseded by sec. 117 this article, is omitted. SEC. 4. Debts due are "credits" and are to be assessed as property. 10 Neb. 161.

shall be valued at its fair cash value. Second. Every credit, for a certain sum, payable either in money or labor, shall be valued at a fair cash value for the sum so payable; if for any article of property, or for labor, or service of any kind, it shall be valued at the current price of such property, labor or service. Third. Annuities and royalties shall be valued at their then present total value.

SEC. 5. [Realty, how valued.]-Real property shall be valued as follows: First. Each tract or lot of real property shall be valued at its fair value, estimated at the price it would bring at a voluntary sale thereof, where public notice had been given, and a payment of one-third cash and the balance secured by a mortgage upon the property. [Second.] Leasehold estates, including leases of school and other lands of the state, shall be valued at such a price as they would bring at a fair voluntary sale for cash. Third. Where a building or structure owned by a lessce is located on land leased from another, the same shall be valued at such a price as such building or structure would sell at a fair voluntary sale for cash.

SEC. 6. [Personalty, when listed.]-Personal property shall be listed between the first day of April and the first day of June of each year, when required by the assessor, with reference to the quantity held or owned on the first day of April, in the year for which the property is required to be listed. Personal property purchased or acquired on the first day of April shall be listed by or for the person purchasing or acquiring it.

SEC. 7. [Same-How listed.]-Personal property shall be listed in the manner following: First. Every person of full age and sound mind, being a resident of this state, shall list all his moneys, credits, bonds, or stocks, shares of stock of joint or other companies (when the capital stock of such company is not assessed in this state,) moneys loaned or invested, annuities, franchises, royalties, and other personal property. Second. He shall also list all moneys and other personal property invested, loaned, or otherwise controlled by him as the agent or attorney, or on account of any other person or persons, company, or corporation whatsoever, and all moneys deposited subject to his order, check, or draft, and credits due from or owing by any person or persons, body corporate or politic, whether in or out of the county. Third. The property of a minor child shall be listed by his guardian; if he have no guardian, then by the father, if living; if not, by the mother, if living; and if neither father nor mother be living, by the person having such property in charge., Fourth. The property of any other person under guardianship by his guardian; or if he has no guardian, by the person having charge of such property. Fifth. The property of a wife, by her husband, if of sound mind; if not, by herself. Sixth. The property of a person for whose benefit it is held in trust, by the trustee; of the estate of a deceased person, by the executor or administrator. Seventh. The property of corporations whose assets are in the hands of receivers, by such receivers. Eighth. The property of a body politic or corporate, by the president, or proper agent or officer thereof. Ninth. The property of a firm or company, by a partner or agent thereof. Tenth. The property of manufacturers and others in the hands of agent, by and in the name of such agent, as merchandise.

SEC. 8. [Same-Where listed.] - Personal property except such as is required in this chapter to be listed and assessed otherwise, shall be listed and assessed in the county, precinct, township, city, or village where the owner resides. The capital stock and franchises of corporations, and persons, except as may be otherwise provided, shall be listed and taxed in the county, precinct, township, city, or village where the principal office or place of business of such corporation or person is located in this state. If there be no principal office or place of business in this state, then at the place in this state where any such corporation or person transacts business.

SEC. 9. [Farm property.]-When the owner of live stock or other personal property connected with a farm does not reside thereon, the same shall be listed and assessed in the county, township, or precinct where the farm is situated;

Provided, If the farm is situated in several townships or precincts, it shall be listed and assessed in the township or precinct in which the principal place of business on such farm shall be.

SEC. 10. [Live stock.]-Live stock in herds or not connected with a farm, shall be listed or assessed in the county where such live stock may be on the first day of April of the year for which the property is required to be listed. For the purposes of assessment and taxation the live stock mentioned in this section shall be deemed to be at the place where the owner or keeper thereof shall have his ranch, provided such ranch shall be in this state.

SEC. 11. [Property in hands of agent. The property of manufac turers and others, in the hands of agents, shall be listed and assessed at the place where the business of such agent is carried on.

SEC. 12. [Purchaser's interest in exempted lands, personalty.jWhen real estate is exempt in the hands of the holder of the fee, and the same is contracted to be sold, the amount paid thereon by the purchaser, with the enhanced value of the investment and improvement thereon until the fee is conveyed, shall be held to be personal property, and listed and assessed as such, in the place where the land is situated."

SEC. 13. [Property in transitu.-Personal property, in transitu, shall be listed and assessed in the county, township, city, or village where the owner resides; Provided, If it is intended for a business, it shall be listed and assessed at the place where the property of such business is required to be listed.

SEC. 14. [Nursery stock.-The stock of nurseries, growing or otherwise, in the hands of nurserymen, shall be listed and assessed as merchandise.

SEC. 15. [Gas companies,]-The personal property of gas companies, except the pipes laid down, shall be listed and assessed in the town, village, district or city where the principal works are located. Gas mains and pipes laid in roads, streets, or alleys, shall be held to be personal property, and listed and assessed as such, in the town, district, village or city where the same are laid.

SEC. 16. [Stage companies.]-The horses, stages and other personal property of stage companies, or persons operating stage lines, shall be listed and assessed in the county, town, city or district where they are usually kept.

SEC. 17. [Express and transportation companies.]-The personal property of express or transportation companies, shall be listed and assessed in the county, township, precinct, city or village where the same is usually kept.

SEC. 18. Listing on behalf of others, --Persons required to list property on behalf of others, shall list it in the same place in which they are required to list their own; but they shall list it separately from their own, specifying in each case the name of the person, estate, company, or corporation to whom it belongs.

SEC 19. [Owner removing-Where assessed.]-The owner of personal property removing from one county, town, city, village, or district to another, between the first day of April and the first day of June, shall be assessed in either, in which he is first called upon by the assessor. The owner of personal property moving into this state from another state, between the first day of April and the first day of June, shall list the property owned by him on the first day of April of such year, in the county, township, city, village, or precinct where he resides; Provided, If such person has been assessed, and can make it appear to the assessor that he is held for tax of the current year on the property, in another state, county, township, precinct, city, or village, he shall not be assessed again for said year.

SEC. 20. [How place of listing fixed.]--In all questions that may arise under this chapter, as to the proper place to list personal property, or when the same cannot be listed as stated in this chapter, if between several places in the same county, the place for listing and assessing shall be determined and fixed by the county board; and when between different counties, or places in different counties, by the auditor of public accounts; and when fixed in either case, shall be as binding as if fixed in this chapter.

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SEC. 21. [Schedule of property.]-Persons required to list personal property shall make out and deliver to the assessor, at the time required, a schedule of the numbers, amounts, quantity and quality of all personal property in their possession, or under their control, required to be listed for taxation by them. It shall be the duty of the assessor to determine and fix the fair cash value of all items of personal property.

SEC. 22. [Oath to schedule.--The schedule shall be signed and sworn to by the person making it, and the oath shall be administered either by the assessor or by any other officer authorized to administer oaths, and shall be certified to by him, and the oath shall be printed upon the blank form, and shall be in substance as follows:

I (A. B.), do solemnly swear or affirm that I have listed above (or within) all personal property, moneys, and credits, subject by the law to taxation, and owned by me, or required by law to be listed by me for any other person or persons (insert as guardian, husband, parent, trustee, executor, administrator, receiver, accounting officer, partner, agent, or factor, as the case may be,) according to the best of my knowledge. (Signed) A. B.

Subscribed in my presence, and sworn to before me this

day of

-, 18-.

SEC. 23. [Failure to make oath-Penalty.]-Any assessor who shall return such schedule to the office of the county clerk, with his assessment roll, without the same having been sworn to as herein provided, shall be deemed guilty of a misdemeanor, and upon conviction thereof, shall be liable to a fine of not less than ten dollars, nor more than fifty dollars.

SEC. 24. [Form of schedule.]-Such schedule, when completed by the asses or in extending in a separate column the value of such property, shall truly and distinctly set forth: First. The number of horses of all ages, and the value thereof. Second. The number of cattle of all ages, and the value thereof. Third. The number of mules and asses of all ages, and the value thereof. Fourth. The number of sheep of all ages, and the value thereof. Fifth. The number of hogs of all ages, and the value thereof. Sixth. Every steam engine, including boilers, and the value thereof. Seventh. Every fire and burglar-proof safe, and the value thereof. Eighth. Every billiard, pigeon-hole, bagatelle, or other similar tables, and the value thereof. Ninth. Every carriage and wagon, of whatsoever kind, and the value thereof. Tenth. Every watch and clock, and the value thereof. Eleventh. Every sewing or knitting machine, and the value thereof. Twelfth. Every piano forte, and the value thereof. Thirteenth. Every melodeon and organ, and the value thereof. Fourteenth. Every franchise, the description and the value thereof. Fifteenth. Every annuity and royalty, the description and the value thereof. Sixteenth. Every patent right, the description and the value thereof. Seventeenth. Every steamboat, sailing vessel, wharf boat, barge, or other water craft, and the value thereof. Eighteenth. The value of merchandise on hand. Nineteenth. The value of material and manufactured articles on hand. Twentieth. The value of manufacturers' tools, implements and machinery (other than boilers and engines, which shall be listed as such.) Twenty-first. The value of agricultural tools, and implements and machinery. Twenty-second. The value of gold or silver plate and plated ware. Twenty-third. The value of diamonds and jewelry. Twenty-fourth. The amount of moneys of bank, broker, or stock-jobber. Twenty-fifth. The amount of credits of bank, banker, broker, or stock-jobber. Twenty-sixth. The amount of moneys other than of bank, banker, broker, or stock-jobber. Twentyseventh. The amount of credits other than of bank, banker, broker, or stock-jobber. Twenty-eighth. The amount and value of bonds, stocks, and state, county,

SEC. 22. The failure of the assessor to require those listing property to swear to the schedule does not render the assessment void. 9 Neb 376. The fact that a sworn list has been made by the owner will not justify the assessor in neglecting to assess property which he knows has been omitted. 7 Neb. 141. 5 Neb. 561. 9 Neb 376. Under the former revenue law [G. S. 900] when the duties of assessor commenced March 1, J. the owner of a bank purchased on the 29th of Feb. through a bank in New York, government bonds, which, with the premium, amounted to $44,650. The bonds were sold on the seventh of March Held, 1,-a mere device to escape taxation. and that the money was taxable; 2,-that while the duties of the assessor commence on the first day of March, they continue until he returns his assessment roll to the county clerk, and all taxable property found by him in his precinct during that time is to be assessed. 10 Neb. 159.

city, village, or school district warrants, and municipal securities of any kind. whatever. Twenty-ninth. The amount and value of shares of capital stock of companies and associations not incorporated by the laws of this state, except shares of stock in national bank. Thirtieth. The value of property such person is required to list as a pawnbroker. Thirty-first. The value of property of companies and corporations other than property hereinafter enumerated. Thirty-second. The value of bridge property. Thirty-third. The value of property of saloons and eating houses. Thirty-fourth. The value of household or office furniture and property. Thirty-fifth. The value of investments in real estate, and improvements thereon, required to be listed under this chapter. Thirty-sixth. The value of all other property required to be listed.

SEC. 25. [Failure to schedule-Assessor to list-Perjury-Penalty.]-Whenever the assessor shall be of opinion that the person listing property for himself or for any other person, company, or corporation, has not made a full, fair and complete schedule of such property, he may examine such person under oath in regard to the amount of property he is required to schedule, and for that purpose he is authorized to administer oaths; and if such person shall refuse to answer under oath, and a full discovery make, the assessor may list the property of such principal, according to his best judgment and information. If the person so examined shall swear falsely he shall be guilty of perjury and punished accordingly.

SEC. 26. [Government bonds.]-Any person, firm or corporation within this state required to list property for the purpose of taxation, and who claims that a portion of his or her funds are invested in government bonds, and therefore exempt from taxation, shall be required to exhibit to the assessor, to whom they are required to make returns of their such bonds, and the assessor shall enter upon such list the species of bond or bonds so exhibited, together with the number, series, and amount of each bond respectively. And every person claiming to be the owner of any such bond or bonds, and failing or refusing to so exhibit the same to the assessor for the purposes herein provided, shall not be entitled to any exemption on account of funds claimed to be invested in such government bonds, but shall have the aggregate amount so claimed to be so invested added to his list by the assessor as so much additional moneys and credits as herein provided.

SEC. 27. [Credits-Rules for listing.]-In making up the amount of credits which any person is required to list for himself, or for any other person, company or corporation, he shall be entitled to deduct from the gross amount of credits the amount of all bona fide debts owing by such person, company or corporation, to any other person, company, or corporation, for a consideration received; but no acknowledgment of indebtedness not founded on actual consideration, believed when received to have been adequate, and no such acknowledgment made for the purpose of being so deducted, shall be considered a debt within the meaning of this section; and so much only of any liability, as surety for others, shall be deducted as the person making out the statement believes he is legally and equitably bound, and will be compelled to pay on account of the inability or insolvency of the principal debtor; and if there are other sureties who are able to contribute, then only so much as the surety in whose behalf the statement is made will be bound to contribute; Provided, That nothing in this section shall be so construed as to apply to any bank, company, or corporation exercising banking powers or privileges, or to authorize any deductions allowed by this section from the value of any other item of taxation than credits.

SEC. 28. [Same.]-No person, company, or corporation shall be entitled to any deduction from the amount of any bonds, stocks, or money loaned, or account of any bond, note or obligation of any kind, given to any insurance company on account of premiums or policies, nor on account of any unpaid subscription to any religious, literary, scientific, or charitable institution or society, nor on account

SEC. 26. See note to sec. 22.

SEC. 27. See 5 Neb. 585