Rocheblave Market Co. v. City of New Orleans

Citations

• 110 La. 529
• 34 So. 665
• 1903 La. LEXIS 665

Syllabus

<p>TAXATION OF FRANCHISE — ASSESSMENT—EXEMPTIONS — APPEAL—JURISDICTION.</p> <p>1. In estimating the value of a franchise, the earning capacity of the franchise is the proper basis to adopt.</p> <p>Twelve per cent, is a fair basis on which to capitalize the earnings of a market franchise for the purpose of tax assessment.</p> <p>2. For the reasons assigned in the case_ of Maestri v. Board of Assessors, 34 South. 658,1 this day decided, the market franchise involved in this case is held not to be exempt from taxation, but the market property itself is held to be so exempt.</p> <p>On Rehearing.</p> <p>3. Where the validity, under the law or constitution, of an assessment is not at issue, and, therefore, the suit presents no question of the legality or constitutionality of a tax of which the assessment is the predicate, and the rate of taxation calculated on the amount of assessment (to reduce which is the object of the suit) shows a sum in taxes, for the year in which and for which the assessment is returned, under the minimum jurisdictional limit of this Court, the appeal will he dismissed.</p> <p>(Syllabus by the Court.)</p>