Chicago, Burlington & Quincy Railroad v. Siders

Citations

• 88 Ill. 320

Syllabus

<p>1. Taxation —former decisions. The decision of this court in Porter et al. v. The Rockford, Rock Island and St. Louis Railroad Co. 76 111. 561, The Republic Life Insurance Co. v. Poliak et al. 75 id. 292, The Ottawa Glass Co. v. Me Caleb, 81 id. 556, and The Pacific Hotel Co. v. Lieb et al. 83 id. 602, in reference to the taxation of the property of corporations, is reaffirmed.</p> <p>2. Capital stock—capital stock—tangible properly. The fact that the State Board of Equalization finds the equalized value of the capital stock of some railroad companies does not exceed the equalized value of their tangible property, thus leaving nothing but the latter upon which to extend taxes, when such assessment is honestly made, and with no fraudulent intent, affords no ground for enjoining the collection of taxes upon another railroad company which is assessed for its capital stock in excess of the value of its tangible property.</p> <p>3. A railway company can not be heard to object to the payment of taxes on the ground that the board of equalization has failed to assess the value of the road-beds under the rails, including embankments, bridges, culverts, etc., of all railroad companies in the State, as tangible property. The rule, being uniform, can not work to the prejudice of one more than another.</p> <p>4. The superstructure of a railroad, aside from the franchise to use it for railroad purposes, being of but little or no value, the finding its actual value with the franchise, for taxation, does not afford sufficient evidence of unfairness to justify a court of equity in restraining the collection of taxes levied on such valuation.</p> <p>5. The courts can not assume, in the absence of proof, that, in all cases, the equalized value of the capital stock of a railroad corporation exceeds the assessed value of its tangible property.</p> <p>6. Same—what property of railway companies must be assessed by State board. The rolling stock and track of railway companies are requir