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· 8. Real property of an incorporated association of present or former volunteer firemen actually and exclusively used and occupied by such corporation and not exceeding in value fifteen thousand dollars.

[R. S., pt. 1, ch. 13, tit. I, § 4, subd. 10, as added by

L. 1891, ch. 163; 8th ed., supp., 3246,
without change.]

9. All dwelling-houses and lots of religious corporations while actually used by the officiating clergymen thereof, but the total amount of such exemption to any one religious corporation shall not exceed two thousand dollars. Such exemption shall be in addition to that provided by subdivision seven of this section.

[R. S., pt. I, ch. 13, tit. I, § 4, subd. 11, as added by

L. 1892, ch. 565; 8th ed., supp., 3246,

without change of substance. The last sentence was added by the legislature.]

10. The real property of an agricultural society permanently used by it for exhibition grounds.

[L. 1856, ch. 183; R. S., 8th ed., 1086,
without change.]

11. The real property of a minister of the gospel or priest who is regularly engaged in performing his duties as such, or permanently disabled, by impaired health from the performance of such duties, or over seventy-five years of age, and the personal property of such ministerorpriest, but the total amount of such exemption on account of both real and personal property shall not exceed fifteen hundred dollars.

[R. S., pt. I, ch. 13, tit. I, § 4, subd. 8; 8th ed., 1083,

R. S., pt. I, ch. 13, tit. I, § 5; 8th ed., 1083,

without change of substance. The legislature struck out the words after the word “age” as follows: “When occupied as a home by such minister or priest.”]

12. All vessels registered at any port in this state and owned by an American citizen, or association, or by any corporation, incorporated under the laws of the state of New York, engaged in ocean commerce hetween any port in the United States and any foreign port, are exempted from all taxation in this state, for state and local purposes; and all such corporations, all of whose vessels are employed between foreign ports and ports in the United States, are exempted from all taxation in this state, for state and local purposes, upon their capital stock, franchises and earnings, until and including December thirty-first, nineteen hundred and twenty-two.

[L. 1881, ch. 433; R. S., 8th ed., 1088, as am. by

L. 1892, ch. 661, $ 2; R. 8., 8th ed., supp., 3247,
without change, except that the period of exemption is
extended from May 17, 1922, to Dec. 31, 1922.]

13. A bond, mortgage, note, contract, account or other demand, belonging to any person not a resident of this state, sent to or deposited in this state for collection; the products of another state, owned by a nonresident of this state and con. signed to his agent in this state for sale on commission for the benefit of the owner; moneys of a nonresident of this state, under the control or in the possession of his agent in this state, when transmitted to such agent for the purpose of invest. ment or otherwise.

[R. S., pt. 1, ch. 13, tit. II, § 5, 8th ed., 1094,
R. S., pt. I, ch. 13, tit. V, § 3; 8th ed., 1160,
re-enacted in part, without change of substance. See

Williams v. Supervisors of Wayne, 78 N. Y., 561.) 14. The deposits in any bank for savings which are due deposit. ors, the accumulations in any domestic life insurance corporation, held for the exclusive benefit of the insured, other than real estate and stocks, now liable to taxation; and the accumulations of any incorporated co-operative loan association upon the shares of such association held by any person.

[L. 1857, ch. 456, $ 4; R. S., 8th ed., 1087,
Banking L. (L. 1892, ch. 689), $ 191; R. S., 8th ed., supp., 4185,
without change in substance.]

15. Moneys collected in the course of the business of any corporation, association or society doing a life or casualty insurance business or both, upon the co-operative or assessment plan, and which are to be used for the payment of assessments, or for death losses or for benefits to disabled members.

[L. 1884, ch. 353, § 1; R. S., Sth ed., 1711,
without change of substance.]

16. The owner or holder of stock in an incorporated company liable to taxation on its capital, shall not be taxed as an individual for such stook.

[R. S., pt. I, ch. 13, tit. I, § 7; 8th ed., 1084,
without change of substance.]

17. The personal property in excess of one hundred thousand dollars of a mutual life insurance corporation incorporated in this state before April tenth, eighteen hundred and forty-nine.

[L. 1853, ch. 469; R. 8., 8th ed., 1677,

L. 1855, ch. 83; R. S., 8th ed., 1677,
without change of substance.]

$ 5. Taxation of lands sold or leased by the state.-All lands which have been sold by the state, although not conveyed, shall be assessed in the same manner as if such purchaser were the actual owner. Where land is leased by the state such leasehold interest shall be assessed to the lessee or occupant in the tax district where the land is situated.

[R. S., pt. I, ch. 13, tit. I, § 6; 8th ed.,1084, The last sentence taxing leasehold interests is new.]

$ 6. No deduction allowed for indebtedness fraudulently contracted.-No deduction shall be allowed in the assessment of personal property by reason of the indebtedness of the owner contracted or incurred in the purchase of nontaxable property or securities owned by him or held for his benefit, nor for or on account of any indirect liability as surety, guarantor, indorser or otherwise, nor for or on account of any debt or liability contracted or incurred for the purpose of evading taxation.

[L. 1885, ch. 411, $ 4; R. S., 8th ed., 1101, as am. by

L. 1892, ch. 202, § 1; R. S., 8th ed., supp., 3250,
L. 1885, ch. 411, $4; R. S., 8th ed., 1101, as am. by
L. 1892, ch. 202, $ 2; R. 8., 8th ed., supp., 3251,
without change of substance.]

$7. When property of nonresidents is taxable.-Nonresidents of the state doing business in the state, either as principals or partners, shall be taxed on the capital invested in such business, as personal property, at the place where such business is carried on, to the same extent as if they were residents of the state.

[L. 1853, ch. 469; R. S., 8th ed., 1677,
L. 1855, ch. 83; R. S., 8th ed., 1677.]

§ 8. Place of taxation of property of residents. Every person shall be taxed in the tax district where he resides when the assessment for taxation is made, for all personal property owned by him, or under his control as agent, trustee, guardian, executor or administrator.

Where taxable personal property is in the possession or under the control of two or more agents, trustees, guardians, executors or administrators residing in different tax districts, each shall be taxed for an equal portion of the value of such property so held by them.

Rents reserved in any lease in fee or for one or more lives or for a term more than twenty-one years and chargeable upon real property within the state, shall be taxable to the person entitled to receive the same, as personal property in the tax district where such real property is situated, and for the purpose of the taxation thereof such person is to be deemed a resident of such tax district.

When a person shall have acquired a residence in a tax district, and shall have been taxed therein, such residence shall be presumed to continue for the purpose of taxation until he shall have acquired another residence in this state or shall have removed from this state. The residence of a person on July first shall be deemed his residence for the purpose of assessment and taxation during that year. If he shall have actually and in good faith changed his residence after July first, and before August first in any year, from one tax district to another, and shall make proof to the assessors at or before their last meeting for the correction of the assessment-roll of such change of residence and that he is assessed in the tax district to which he has removed, his name and the assessment of his personal property shall be stricken from the assessment-roll of the tax district where he resided on July first. In case of any controversy as to the proper place of taxation within the state of any person, his residence for pur. poses of taxation may be determined by the state board of tax commissioners, subject to review by the court.

SR. S., pt. 1, ch. 13, tit. II, $$ 1,5; 8th ed., 1094,
L. 1846, ch. 327, SS 1, 2; R. S, 8th ed., 1106,
L. 1858, ch. 357; R. S., 8th ed., 1108

L. 1883, ch. 392, § 2; R. S., 8th ed., 1096. The latter part of the section fixing the residence of July first as the residence of the year for taxing purposes is new, as an express statutory revision.]

$ 9. Place of taxation of real property:—When real property is owned by a resident of a tax district in which it is situated, it shall be assessed to him. When real property is owned by a resident outside the tax district where it is situated, it shall be assessed as follows:

1. When the property is occupied it must be assessed to the occupant.

2. If the occupant resides out of the tax district or if the land is unoccupied, it shall be assessed as nonresident, as herein. after provided by article two.

[R. S., pt. 1, ch. 13, tit. II, §§ 1-3; 8th ed., 1094.] § 10. Taxation of real property divided by line of tax district.If a farm or lot is divided by a line between two or more tax

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