State ex rel. Louisiana Imp. Co. v. Board of Assessors

Citations

• 111 La. 982
• 36 So. 91
• 1902 La. LEXIS 182

Syllabus

<p>TAXATION—PROPERTY SUBJECT—MUNICIPAL BONDS—CERTIFICATES OF INDEBTEDNESS-ASSESSORS.</p> <p>1. A general law,_ in terms, directing that all property be taxed, including “bonds,” “credits,” does not include public property, as property to be taxed, nor “public securities” due by the municipality by which they are issued; nor does it include within its terms public credits of the municipality by which the tax is demanded.</p> <p>2. The state cannot, through her Board of Assessors, ,be recognized as entitled to a tax on public municipal bonds, unless it be made sufficiently evident that such a demand is made in accordance with expressed intention of the lawmaking authority. The text of the revenue law does not disclose such an intention.</p> <p>3. The court said in State ex rel. Da Ponte v. Board of Assessors, 35 La. Ann. 655, that the laws directing “all property to be taxed,” does not cover public securities of the “state and city.”</p> <p>In the face of this judicial declaration, the constitutional convention of 1898 used terms equivalent to those contained in the prior Constitution.</p> <p>4. In the decision cited supra the court also said that all property was liable to taxation, except that expressly exempted by the Constitution. •</p> <p>The court held in the cited case supra that all property liable to taxation, “except that expressly exempted,” did not include bonds, as subject to taxation, although they were not expressly included within the terms of the exempting provision from taxation as laid down in the Constitution.</p> <p>5. The taxing statute embraces “all property,” and “all rights, credits,” bonds and securities of all kinds.</p> <p>The statute subjects all property “bonds and credits” to taxation, but not “public bonds” and “public credits” of municipalities issuing them.</p> <p>6. Municipal bonds not being subject to taxation by the municipality by which they are issued, the certificates of indebtedness are entitled to the same immunity from taxati