Illinois Central Railroad v. Irvin

Citations

• 72 Ill. 452

Syllabus

<p>1. Illinois Central Railroad Company—construction of clause in charter exempting it from, taxation. The taxes from which the legislature intended to relieve the Illinois Central Railroad Company, by the 22d section of the act incorporating it, are only such taxes as it, as a railroad corporation, would be otherwise liable to pay upon its properly, acquired in the prosecution of its business in constructing and operating the lines of road authorized by said act to be constructed and operated.</p> <p>2. Steamboats are not railroad property, and are not, although owned and used by a railroad company, exempt from taxation as such, under a charter which exempts such railroad company from taxation.</p> <p>3. Where the charter of a railroad company exempts the corporation from taxation, its property which is necessary and indispensable to the construction and use of the road will, alone, be within the exemption—all other property will be liable to taxation.</p>