3 the person who shall be the owner or in possession 4 thereof on the first day of May in each year. And in 5 cases of mortgaged real estate the mortgagor shall 6 for the purposes of taxation be deemed the owner 7 until the mortgagee shall take possession, after which 8 the mortgagee shall be deemed the owner.

SEC. 8. When a tenant paying rent for real estate 2 shall be taxed therefor he may retain out of his rent 3 the one half the taxes paid by him, and when a land4 lord is assessed for such real estate he may recover 5 the one half of the taxes paid by him and his rent in 6 the same action against the tenant, unless there be an 7 agreement to the contrary.

SEC. 9. All personal property, whether within or 2 without this State, shall, except in the cases enumer3 ated in the following section, be assessed to the owner 4 in the town where he shall be an inhabitant on the 5 first day of May in each year.

SEC. 10. The excepted cases referred to in the 2 preceding section are the following, namely: 3 First-All goods, wares and merchandize, or any 4 stock in trade including stock employed in the busi5 ness of any of the mechanic arts in any city, town or 6 plantation within this State other than where the 7 owners reside, shall be taxed in such city, town or 8 plantation if the owners occupy any store, shop or 9 wharf therein, and shall not be taxable where the own10 ers reside.

11 Secondly-All machinery employed in any branch

12 of manufacture and belonging to any corporation, 13 and all real estate belonging to any corporation, shall 14 be assessed to such corporation in the town or other 15 place where such real estate or machinery is situated 16 or employed; and in assessing the stockholders for 17 their shares in any such corporation, their propor18 tional part of the value of such machinery and real, 19 estate shall be deducted from the value of such shares. 20 Thirdly-All neat cattle shall be taxed in the town 21 where they are kept on the first day of May in each 22 year, to the owner or person who has them in possess23 ion at that time. Provided, that such tax shall be 24 abated if the owner, being an inhabitant of some place 25 in this State other than that in which such cattle are 26 kept as aforesaid, shall within three months of such 27 assessment produce to the assessors of the town where 28 such cattle are so kept a certificate from the assessors 29 of the town where he resides that said cattle have ac30 tually been taxed to him in that year in the town where 31 he resides.

32 Fourthly-All personal property belonging to minors 33 under guardianship, shall be assessed to the guardian 34 in the place where he is an inhabitant; and the per35 sonal property of all other persons under guardian36 ship shall be assessed to the guardian in the town 37 where the ward is an inhabitant.

38 Fifthly-All personal property held in trust by any 39 executor, administrator or trustee, the income of

40 which is to be paid to any married woman or other 41 person, shall be assessed to the husband of such mar42 ried woman, or to such other person, respectively, in 43 the place of which he is an inhabitant. But if such 44 married woman, husband or other person reside out 45 of the State, the same shall be assessed to such exec46 utor, administrator or trustee, in the place where he 47 resides.

48 Sixthly-Personal property placed in the hands of 49 any corporation as an accumulating fund for the fu50 ture benefit of heirs or other persons, shall be assessed 51 to the person for whose benefit the same is accumu52 lating if within the State, otherwise to the person so 53 placing it, or his executors or administrators, until a 54 trustee shall be appointed to take charge of such 55 property or the income thereof-then to such trustee. 56 Seventhly-The personal property of deceased per57 sons which shall be in the hands of their executors or 58 administrators not distributed, shall be assessed to the 59 executors or administrators in the town where the de60 ceased person last dwelt until they shall give notice 61 to the assessors that said property has been distrib62 uted and paid over to the persons entitled to receive 63 it.

64 Eighthly-All property held by any religious society 65 as a ministerial fund shall be assessed to the treasurer 66 of such society; and if it be real estate, it shall be 67 assessed in the town where it is situated; and if it

68 consists of personal property, it shall be assessed in 69 the town where such society usually hold their meet70 ings.

SEC. 11. When any insurance or other incorporated 2 company is or shall be required by law to invest its 3 capital stock or any part thereof in the stock of any 4 bank or banks, or other corporation in this State, for 5 the security of the public, such investments shall not 6 be liable except to the stockholders of the company 7 so investing as making a part of the value of their 8 respective shares in the capital stock of said company.

SEC 12. When personal property is mortgaged or 2 pledged, it shall for the purposes of taxation, be 3 deemed the property of the party who has it in pos4 session.

3

SEC. 13. The undivided real estate of any deceased 2 person may be assessed to the heirs or devisees of such person without designating any of the heirs or devi4 sees by name, until they have given notice to the as5 sessors, of the division of the estate and the names of 6 the several heirs or devisees. And each heir or 7 devisee shall be liable for the whole of such tax, and 8 shall have a right to recover of the other heirs or 9 devisees their respective portions thereof when paid 10 by him, and in an action for that purpose the undi11 vided shares of such heirs or devisees in the estate 12 upon which such tax has been paid, shall be liable to 13 be taken on execution whether at the time the same 14 belongs to the defendants in said action or otherwise.

SEC. 14. Partners in mercantile or other business, 2 whether residing in the same or different towns, may 3 be jointly taxed under their partnership name in the 4 town where their business is carried on, for all the 5 personal property employed in such business; and if 6 they have places of business in two or more towns, 7 they shall be taxed in the several towns for the portion 8 of property employed in each town respectively. And 9 said partners shall be jointly and severally liable for

10 such tax.

SEC. 15. Any property liable to taxation shall be 2 liable to be taken and sold for taxes in the manner 3 provided by law, notwithstanding the same may be 4 exempted by law from attachment and execution for 5 other claims against the owners.

SEC. 16. Whenever a State tax shall be ordered by 2 the legislature, the treasurer of the State shall forth3 with send his warrants, directed to the mayor and al4 dermen, selectmen or assessors, of each city, town, 5 plantation, or other place, in this State, requiring 6 them to assess upon the polls and estates of each such 7 city, town, plantation, or other place, its proportion of 8 such State tax, and the amount of such proportion 9 shall be stated in such warrant.

SEC. 17. The treasurer in his warrant shall require 2 the said mayor and aldermen, selectmen and assess3 ors, respectively, to make a fair list of their assess4 ments, setting forth in distinct columns against cach 5 person's name, how much he or she is assessed for