In re Girard Trust Co.

Flood, J.,

In these cases appeals have been taken from the assessment of taxes upon ground rents held by appellants. The taxes were assessed under the Act of May 18, 1937, P. L. 633, 72 PS §3242, which added ground rents to the subjects of taxation under the State Personal Property Tax Act of June 22, 1935, P. L. 414. The pertinent part of this act reads as follows:

*246“All personal property of the classes hereinafter enumerated, owned, held or possessed by any resident ... is hereby made taxable, annually, for State purposes, at the rate of four mills on each dollar of the value thereof . . .…