Section 6Part 0 —
As to duty in respect of property acquired after January in any year
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Tax must be paid upon property coming into possession of persons after the first day of January in each year, for the proportional part of the year, such proportion of duty to be computed from the first day of the quarter during which the possession commenced at the rate of one-fourth of the whole annual duty for each quarter or fractional part of a quarter of each year:
the duty on any taxable property is not recoverable more than once in any calendar year.
Defined Terms
propertydutyquarter