ART. 81] STATE TAX COMMISSIONER. 1851

county commissioners of each county in which such bank or
other incorporated institution or joint stock company shall own
or possess any real property, and to the appeal tax court of
Baltimore city, if such bonk or other incorporated institution or
joint stock company shall own or possess any real property in
said city, a true statement of such real property situated or
located in such county or city, and such real property shall be
valued and assessed by said county commissioners and appeal
tax court, respectively, to the said bank or incorporated institu-
tion or joint stock company so owning the same, and the said
county commissioners and appeal tax court shall give duplicate
certificates of such valuation and assessment to such president
or other officer, who shall transmit one of such duplicate certifi-
cates with his return to the State tax commissioner, and State,
county and city taxes shall be levied upon and paid by such
bank or other incorporated institution or by such joint stock
company on such assessment in the same manner as the same
are levied upon and paid by individual owners of real property
in such county or city; the respective taxable value of the shares
of stock in such bank, corporation and joint stock companies
shall be ascertained by the State tax commissioner in the manner
following: He shall deduct the assessed value of such real prop-
erty belonging to the said respective banks, corporations or joint
stock companies from the aggregate value of all shares of such
respective banks, corporations or joint stock companies and
divide the remainder by the number of shares of the capital
stock or shares of such respective banks, corporations or joint
stock companies and the quotient shall be the taxable value of
each of such respective shares for State purposes, and all State
taxes thereon shall be paid as provided now or hereafter by law,
and when the valuation and assessment of the shares of the cap-
ital stock or shares of such banks, corporations or joint stock
companies shall have been finally determined or made for State
purposes, the State tax commissioner shall certify to the county
commissioners of each county where any of the stockholders or
shareholders may reside, and to the appeal tax court of Balti-
more city, if any of said stockholders or shareholders reside
in said city, and to the county commissioners of the county in
which such bank, corporation or joint stock company is situ-
ated, or to the appeal tax court of Baltimore city, if it is situ-
ated in said city, the assessed taxable value of such respective
shares of stocks, or shares so ascertained as aforesaid. And
the said taxable value of such respective shares of stock or
shares in such banks, corporations or joint stock companies,