Standard Marine Ins. v. Board of Assessors

Citations

• 123 La. 717
• 49 So. 483
• 1909 La. LEXIS 770

Syllabus

<p>1. Taxation (§ 74*) — Credits—“Property.”</p> <p>Outstanding accounts are rather a common variety of credits. They are recognized, in'law and in practice, as “property,” and, so long as they have their situs here, are liable to taxation here.</p> <p>[Ed. Note. — Eor other, cases, see Taxation, Cent. Dig. § 159; Dec. Dig. § 74.*</p> <p>Eor other definitions, see Words and Phrases, vol. 6, pp. 5693-5728; vol. 8, pp. 7768-7770.]</p> <p>2. Taxation (§ 483*) — Application to Reduce Assessment — “Reduce.”</p> <p>The proposition that an application that an assessment should be “wiped out” and should be “reduced to nothing” is an application to “reduce” an assessment, within the meaning of the law, is untenable. In the one case, the applicant denies the existence of property liable to taxation; in the other, he admits the existence of such property and complains of its overvaluation.</p> <p>[Ed. Note. — Eor other cases, see Taxation, Dec. Dig. § 483.*</p> <p>For other definitions, see Words and Phrases, vol. 7, p. 6025.]</p> <p>(Syllabus by the Court.)</p>