2562 ARTICLE 81.

The act of 1874, ch. 483 (repealing and re-enacting art. 81), held not to be in pari
materia with act of 1874, ch. 514 (providing for a general assessment). The former
could not be looked to to supply the defects in, or to aid in construction of, the latter.
Maxwell v. State, 40 Md. 288.

This section referred to in construing sec. 166—see notes thereto. Clark Distilling
Co. v. Cumberland, 95 Md. 471.

As to the levy of taxes by county commissioners, see art. 25, sec. 8.

As to the levy of taxes for the support of public schools, see art. 77, secs. 56,
191 and 205.

Valuation and Assessment.

An. Code, sec. 2. 1904, sec. 2. 1888, sec.2. 1841, ch. 23, sec. 1. 1852, ch. 337, sec 1.

1874, ch. 483, sec. 2. 1880, ch. 122. 1888, ch. 242. 1890, ch. 491.

1892, ch. 704. 1896, ch. 120. 1896, ch. 143. 1900, ch. 320.

1904, ch. 212. 1924, ch. 264, sec. 2.

2. Except as provided in Section 9 of this Article all interests, shares
or proportions owned by residents of this State in ships or other vessels
whether such ships or other vessels be in or out of port, are and shall be
valued and assessed for the purposes of State, county and municipal
taxation to the respective owners thereof in the county or city in the State
in which said owner or owners shall respectively reside and such respec-
tive owners shall pay the taxes thereon. All real properties in this State
belonging to any bank incorporated under the laws of this State or of any
other State, or belonging to any national bank located in this State, or
to any company or corporation incorporated by or under the laws of this
State, or of any other State, or under the laws of the United States, or
of any territory or under the laws of the United States relating to the
District of Columbia, or belonging to any joint stock company doing busi-
ness in this State, are and shall be valued and assessed for the purpose of
State, county and municipal taxation as the property of such bank, com-
pany, corporation or joint stock company and such bank, company, cor-
poration or joint stock company shall pay such respective taxes thereon.
All money belonging to residents of this State which shall be the proceeds
of the sale of stocks, bonds or other property disposed of for the purpose
of evading and escaping taxation, all shares or interest in any joint stock
company and all shares of stock in any bank incorporated under the laws
of this State, or any national bank located in this State, or in any cor-
poration incorporated under the laws of the State shall be valued and
assessed for the purpose of State, county and municipal taxation to the
owners thereof in the county or city in this State in which said owners
may respectively reside; the taxable value of such shares shall be ascer-
tained and determined and the taxes thereon levied and collected as is now
or may be hereinafter provided by law.

All personal property in which any resident of this State has an equita-
ble interest with the legal title to the same in some other person or cor-
poration who is a non-resident shall be valued and assessed for the pur-
pose of State, county and municipal taxation to the equitable owners
thereof in the county or city in which he, she or it resides and such
equitable owner or owners shall pay the taxes thereon.

All shares of stock or shares in any bank other than a national bank, or
in any company or corporation incorporated by or located in and doing