Union Investment Co. v. Harrison County

Citations

• 67 Miss. 614

Syllabus

<p>1. Taxation. Assessment of lands. Standard of valuation. Act of March 8,1888.</p> <p>Under this statute (Acts 1888, p. 24) in the assessment of land not in an incorporated town, its intrinsic value is to be determined by taking into consideration all circumstances that may tend to give a present value to it, such as its improvement, its proximity to navigation or-transportation, or to any city, town, or village ; also what the owner would be willing to accept or expect to get for it, if disposed to sell, but not what it would bring at a forced sale. The probability that a projected and partly built railroad may never- be completed, in which event the lands may become comparatively valueless, is not a factor to be considered.</p> <p>2. Same. Contemplated improvements. Enhanced value.</p> <p>But if the probability or possibility of the completion of the said railroad has tended to enhance the value of lots in such town, and has, in fact, so enhanced them as to make the owners willing to accept, or expect to get, for them not less than a certain sum, their assessment at that figure by the assessor should not be reduced by the board of supervisors.</p>