Campbell v. Minnehaha Nat. Bank

Citations

• 11 S.D. 133
• 76 N.W. 10
• 1898 S.D. LEXIS 87

Syllabus

<p>Laws 1897, c. 28, § 42, requires the county auditor to transmit, for the use cf the state board of equalization, an abstract of the assessment lists, wherein the property listed is grouped into 13 distinct classes, one of which is “the total value of stocks or shares.” Section 45 authorizes the board to consider the lands and town lots of a county as a single class, although grouped separately in the auditor’s abstract, and the board is further authorized to “equalize the assessment of personal property by adding to the aggregate assessed value of any class of personal property of every county in which they believe such valuation is too low such rate per centum as will raise the same to its proper proportionate value and by deducting from the aggregate assessed value of any class of personal property, in every county in which said board may believe the valuation to be too high, such per centum as will reduce the same to its proper proportionate value.” Section 44 requires the board to examine carefully the abstracts, and, by comparison of the like classes of property, ascertain a true proportionate value of all the property in the state. Held, that the board is not authorized to divide the property classified as “the total value of stock an'd shares,” and raise the valuation of bank stock,' without increasing that of other stocks and shares.</p>