ART. 81.] VALUATION AND ASSESSMENT. 1207

such further assessments as may hereafter be made agreeably to
law, unless otherwise directed in the act of assembly leving said
taxes.

Appeal Tax Court v. Western Md. R. R Co.—Same v. Union R. R. Co. 50
Md. 276.

Valuation and Assessment.

F. G. L., (1860,) art. 81, sec. 2. 1841, ch. 28, sec. 1. 1852, ch. 337, sec. 1.
1874, ch. 483, sec. 2. 1880, ch. 122.

2. All interest, shares or proportions owned by residents of this
State in all ships or other vessels registered in a port of Maryland,
whether such ships or other vessels be in or out of port, are and
shall be subject to valuation and assessment to the respective
owners thereof in the county or city in this State in which such
owners stall respectively reside; all real property in this State
belonging to any bank incorporated under the laws of this State,
or of any other State, or 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 to any joint stock com-
pany doing business in this State, is and shall be subject to valua-
tion, assessment and levy of taxes thereon for State, county and
municipal purposes by the county commissioners of the respective
counties in which such real property is situated, or by the appeal
tax court of Baltimore city, if such real property is located in said
city, as the property of such bank, company, corporation or joint
stock company; and such bank, company, corporation or joint
stock company shall pay the taxes thereon so assessed and levied.
All shares in any joint stock company, and all shares of stock in
any bank, incorporated under the laws of this State, or in any
national bank located in this State, or in any corporation incorpo-
rated under the laws of this State, other than railroad companies
working their respective railroads by steam power, not exempted
from taxation by irrepealable contract with this State, are and
shall be subject to vaiuation and assessment to the owners thereof
in the county or city in this State in which such owners may re-
spectively reside, in the manner provided for by this code;
and the taxable values of such shares shall be ascertained
and finally determined, and the taxes thereon levied and collected
in each year, under the regulations hereinafter prescribed, or as