REVENUE AND TAXES. 477
ORDINARY TAXES

On What Assessments to be Levied.

1929, ch. 226, sec. 5.

5. All ordinary State, county and city taxes shall be levied upon assess-
ments made in conformity with this Article, or upon existing assessments
until changed in conformity with this Article.
See footnote to sec. 1.

What Shall Be Taxed and Where.

1929, ch. 226, sec. 6.

6. The following property, except as in the next two succeeding sections
provided, shall be subject to assessment to the owner and taxation for ordi-
nary taxes in this State and in the county and/or city specified below:

(1) All real properties in this State, by whomsoever owned, in the
county/or city in which the same are situated.

(2) All tangible personal properties located in this State, by whomso-
ever owned, in the county and/or city in which the same are respectively
permanently located, (a) provided that rolling stock of railroads worked
by steam shall be taxed only as provided in Section 8(d); and (b) pro-
vided further that tangible personal property located in this State, but not
owned by a domestic ordinary business corporation, and not permanently
located in any county or city shall be subject to assessment and taxation in
the county and/or city where the owner resides or has his or its principal
office or place of business in this State; and (c) provided further that tang-
ible personal property located in this State owned by a domestic ordinary
business corporation shall be taxed in the county and/or city in which
the stockholders respectively reside, or if they be non-residents of this
State, then in the county and/or city in which the principal office of the

corporation is situated.

(3) All interest-bearing bonds, certificates of indebtedness or evidences

of debt, owned by residents of the State, in whatsoever form made or issued
by any public or private domestic corporation (other than a county or city

of this State), or made or issued by any State (other than this State), ter-
ritory, district, possession or foreign country, or by any foreign public or
private corporation, in the county and/or city in which the owners respec-
tively reside.

(4) All interest-bearing mortgages, owned by residents of this State on
Teal estate or tangible personal property situated in whole or in part out-

side of Maryland, in the county/or city in which such owners respectively
reside.

(5) All dividend-paying shares of stock or shares in any foreign corpo-
ration (other than national banks) owned by residents of this State, in the

county and/or city in which the owners respectively reside.