Meeting and Reports.

Otago Witness, Issue 1559, 24 September 1881, Page 22

Meeting and Reports.

Property Assessment Amendment BilL (FROM OUR OWN CORRESPONDENT )

Wellington, September 15th. The Property Assessment Act Amendment Bill is juat circulated to-night. It makes a number of verbal amendments in " The Property Asaeasment Act, 1879," and the following are the main provisions : — The Governor-in-Council may from time to time abolish any district or districts, or create new districts; oaths required may be taken before a Resident Magißtrate ; statements required to be made on behalf of companies, shall, except in cases of banking, or insurance, or gold-mining companies, be to same effect as those required from persons, and wherever the word " person " occurs, and does not include company, the words " or company " shall be deemed to be added after the word " person" : provided always the property and debts of any such company Bhall be returned in such statement at same value and amount, for purposes of assessment, as are expressed in last balancs-3heet issued to shareholders prior to the date to which such statement relates, and a copy of the balance-sheet shall be attached to the statement ; statements of property to be made as at 12 o'clock noon on Ist October ; property to be stated and assessed at full cost value ; statements of property by persons to be furnished every third year, commencing in 1883 ; by companies in every year ; commencing in 1881 j statement for gold-mining companies shall in lieu of stating property of company state marketable value of shares actually issued, and how many shares, and property tax shall be payable on amount of all shares at marketable value ; liability secured on real or personal property, or incurred for purchase of goods not in the Colony, or to persons not bona fide residents in the Colony, not to)be deducted ; goods on consignment to be included in statement of conaignee; Commiaaioner may purchase property at value mentioned in the statement, unleas same be increased to fair value ; property to vest in Crown on payment of t purchase, money; persons dissatisfied with assessment can compel Commissioner to purchase; Colonial Treasurer may pay pur-chase-money without special appropriation ; powers, &c.| of Deputy-commissioner may be exercised by Commissioner and Deputy may be appointed for several districts. If any person fails, neglects, or refuses to do anything on the date or within the time when by the Act he ought to do it, he shall be liable to a penalty of LIOO. Section 13, 15, 42, 52, 54, proviso to section 24, a1l the words after the word "particulars" in the 32nd section, and all the words after the word " one," in the third line of the 68th section of " The Property Asuessment Act, 1879," are repealed,