“525. The council may impose and levy annually:(1) on the stock in trade or articles of commerce of all descriptions kept by merchants and dealers and exposed for sale in shops, or kept in vaults, warehouses or store-houses; on all yards or depots for rough, sawn or manufactured wood or lumber; and on all yards or depots for coal or other articles of commerce kept for sale, a tax of not more than 1% of the estimated average value of such stock in trade or other articles of commerce;
(2) a tax upon all occupants, possessors or tenants of immovables in the territory of the municipality, the said tax being imposed on a uniform basis and not exceeding $0.08 in the dollar on the amount of rent or the rental value of the immovable or of the part of the immovable thus occupied, possessed or leased, as established on the roll of rental values, or, in the absence of such roll, as estimated by the council.”