Republic Life Insurance v. Pollak

Citations

• 75 Ill. 292

Syllabus

<p>1. Taxation—courts cannot relieve against excessive valuation of property. Under our constitution requiring property to be valued for taxation by the persons to be appointed or elected in such manner as the legislature shall direct, and not otherwise, neither the courts nor any other department of the government have the power or right to review or change the assessments of property made by the proper officers. In the absence of fraud or want of power in those officers the courts are powerless to give relief against an excessive valuation.</p> <p>3. Same — State Board of Equalization. The State Board of Equalization being composed of persons elected to assess and fix the value of such property as has been designated by law, their valuation is conclusive and final, and the courts cannot examine the mode of reasoning or the basis adopted by them to ascertain the value of property.</p> <p>8. Same — exemption. The re-assurance, reserve and premiums of life insurance companies being collected are subject to taxation, as they are claims and funds that would be taxable in the hands of a natural person.</p> <p>4. Same — sha/res in corporations exempted where capital stock is taxable. Where the capital stock of corporations is taxable, the shares of stock are not subject to taxation in the hands of shareholders. But even if the latter are erroneously assessed, that affords no reason why the capital stock should not be assessed and taxed. It is the fault of the shareholders if they pay a tax on their shares.</p>