Bank of Oxford v. Lafayette County

Citations

• 79 Miss. 152

Syllabus

<p>1. Appeal. Assessments. Bond. Code 1893, § 80. Practice.</p> <p>Where a taxpayer appeals to the circuit court, under code 1893, $ 80, authorizing such appeals, from the judgment of the hoard of supervisors approving an assessment, the remedy of the appellee for an insufficient appeal hond is an order requiring the bond to be made sufficient, rather than a peremptory dismissal.</p> <p>3. Banks. Taxation. SurpVus. Assessment for previous yea/rs. Code 1893, U 3768, 3769.</p> <p>Where a bank has been assessed and paid taxes on a certain sum as its “surplus,” it is not competent thereafter for the assessor or board of supervisors to assess it for back taxes on a surplus because the previous assessments thereon were too small. The statutes, code 1893, ¡í(¡ 3768, 3769, authorizing the assessment of property which has escaped taxation, do not apply.</p> <p>3. Same. Escape of capital stock from taxation.</p> <p>Where a part of the capital stock of a bank has escaped taxation, it may afterwards be assessed for the taxes which should have been imposed upon it.</p> <p>4. Same. How capital stock should he valued for taxation.</p> <p>Shares of the capital stock of a bank should be assessed, not at their face value, but at their real or market value.</p>