Page:United States Statutes at Large Volume 53 Part 2.djvu/632

 PUBLIC LAWS-CH. 367-JULY 26, 1939 Real estate. Proeiso. Street-railroad and insurance companies. Ante, p. 1087. Legislation repealed. 26 Stat. 625. Exemptions. Taxes, fiscal years preceding 1940. 32 Stat. 619. Corporate excess tax, provisions inopera- tive. 32 Stat. 619. Tax on real prop- erty. 50 Stat. 692; 62 Stat. 369. Tamable status of motor vehicles as tan- gible personal prop- erty. Proviso. Registration for first time between desig- nated dates. Columbia. And in addition thereto the real estate owned by each national or other incorporated bank, and each trust, gas, electric- lighting, and telephone company in the District of Columbia shall be taxed as other real estate in said District: Provided, That street- railroad companies shall pay 3 per centum per annum on their gross receipts and other taxes as provided by existing law, and insurance companies shall continue to pay the 2 per centum on premium receipts as provided by existing law. Each gas, electric-lighting, telephone and street railroad company shall pay, in addition to the tax herein mentioned, the corporate income tax imposed by title II of the Dis- trict of Columbia Revenue Act of 1939, and the personal property tax on merchandise stock in trade. So much of the Act approved October 1, 1890, entitled 'An Act to provide for the incorporation of trust, loan, mortgage, and certain other corporations within the District of Columbia' as is inconsistent with the provisions of this section is hereby repealed." (b) This section shall not apply to gross earnings or gross receipts for any fiscal year ending the 30th day of June prior to the fiscal year ending June 30, 1940. Taxes shall be levied and collected for the fiscal years preceding the fiscal year ending June 30, 1940, under said paragraph 5 of section 6 of said Act of July 1, 1902, as if this title had not been enacted. (c) Section 6 of the Act of July 1, 1902, (c. 1352, 32 Stat. 619), is amended by striking out paragraph 8, so that the corporate excess tax therein provided shall become inoperative. TAX ON REAL. PROPERTY SEC. 3. Title VII of the District of Columbia Revenue Act of 1937, as amended, is amended to read as follows: "For the fiscal year end- ing June 30, 1940, the rate of taxation imposed on real and tangible personal property in the District of Columbia shall be 1.75 per centum of the assessed value of such property." TAXABLE STATUS OF MOTOR VEHICLES AS TANGIBLE PERSONAL PROPERTY SEC. 4. Notwithstanding any other provision of law, the tangible personal-property tax on motor vehicles, except when consisting of stock in trade of merchants, shall be prorated according to the num- ber of months such property has a situs within the District; and all such motor vehicles shall be assessed at their value as of April 1 each year: Provided, however, That where a motor vehicle shall be registered in the District of Columbia for the first time on a date between April 1 of one year and April 1 of the succeeding year, such motor vehicle shall be assessed, for taxation for the period ending with the succeeding April 1, at its value as of date of application for such first registration. TAX APPEALS peard of Ta Ap- SEC. 5. (a) The first sentence of the second paragraph of section 2 2Stat. 371. of title IX of the District of Columbia Revenue Act of 1937, as amended by the Act approved May 16, 1938, is amended to read as Salary. follows: "The salary of such person so appointed shall be $8,000 Effective date. per annum." This amendment shall be effective on and after July 1, 1939. 52Stat.371. (b) Section 3 of title IX of the District of Columbia Revenue Act of 1937, as amended, is amended as follows: xAppel from assess- "S. 3. Any person aggrieved by any assessment by the District against him of any personal-property, inheritance, estate, business- 1108 [53 STAT.

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