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The Pamphlet Collection of Sir Robert Stout: Volume 48

Clause 26.—"The following property shall be exempt from taxation:—

(1.)	All agricultural implements in actual use.
(2.)	All property of the Crown, or of any local body, or of any company or society of persons not formed wholly or mainly for the purpose of gain or profit divisible amongst the shareholders.
(3.)	All churches and other places used exclusively for public worship.
(4.)	All property of, or vested in, any body or persons for public charitable, or public educational purposes.
(5.)	All property of, or vested in, any public body, society, or persons, and used only for the purposes of public health, or recreation.
(6.)	All public reserves of whatever nature made under any law granted to, or vested in, any body or persons.
(7.)	All property of Maoris.
(8.)	All property owned in reversion, remainder, or expectancy of any kind, the owner thereof not having any present beneficial interest therein at the time an assessment is made thereof.
(9.)	All vessels of every kind.
(10.)	All policies of life assurance.

Except as hereinafter mentioned."