People ex rel. Seip v. Chicago & Western Indiana Railroad

Citations

• 116 Ill. 181
• 4 N.E. 480
• 1886 Ill. LEXIS 1072

Syllabus

<p>1. Taxation—railroad property, by whom to be assessed. Bolling stock and railroad track, as well as capital stock of railway companies, are by the statute required to he assessed for taxatidn by the State Board of Equalization, but all other railroad property is to be assessed by the local assessors.</p> <p>2. Same—what property to be listed as “railroad track.’’ Lands held by a railway company for right of way, when the road is located and in process of construction, are required to be returned as “railroad track, ” for taxation, and this, even though some of the lands acquired for right of way are occupied by tenants residing thereon. Actual use for railroad purposes is not essential to the property being classified as “railroad track, ” but it is enough that it has in good faith been acquired and is “held for right of way. ”</p>