ART. 81.] REVENUE AND TAXES. 55
ARTICLE LXXXI.

Revenue and Taxes.

DIRECT TAXES.

Chapter 199 amends and re-enacts sections 23, 40,103, as follows, (I. Supplement, 64-)

SEC. 1. The County Commissioners in the several counties,
and the Mayor and City Council of Baltimore, shall, in the year
eighteen hundred and sixty-four, and annually thereafter, im-
pose a tax, for the use of the State, of five cents on every
hundred dollars worth of assessable property within their
respective jurisdictions, according to the valuation thereof.

2. All persons and incorporated institutions that shall pay
their State taxes on. or before the first day of September, of the
year for which they were levied, shall be enutled to a deduction
of five per centum on the amount of said taxes; all that shall
pay the same on or before the first day of October, of the said
year, shall be entitled to a deduction of four per centum; and all
that shall pay the same on or before the first day of November, of
the said year, shall be entitled to a deduction of three per centum;
and at the time of receiving said taxes the collector shall make the
deduction aforesaid, and note the same upon the receipts given
to the persons or incorporated-institutions so paying; but
nothing herein contained shall exteud to the taxes payable on
the public debt of Maryland, or the stock loans of the city of
Baltimore; nor shall anything herein contained extend to the -
taxes on banks, savings institutions or incorporated institutions
issuing bonds, &c., mentioned in section ninety-three, section
ninety-five and section ninety-six of this article, but said banks,
savings institutions and corporations shall pay the taxes men-
tioned in said sections in the manner and at the times therein
prescribed without deduction.

3. There shall be levied a tax of one-twentieth of one per
centum on the public debt of the State of Maryland, owned or
held by any person, resident or non-resident, of this State,
assessed at the following valuation: So much of the said debt
as bears an interest of six per centum shall be assessed at par;