City of Kansas City v. Mercantile Mut. Building & Loan Ass'n.

• Decision Date: 14 June 1898
• Citation: 46 S.W. 624,145 Mo. 50
• Parties: CITY OF KANSAS CITY v. MERCANTILE MUT. BUILDING & LOAN ASS'N.
• Court: Missouri Supreme Court

46 S.W. 624

145 Mo. 50

CITY OF KANSAS CITY v. MERCANTILE MUT. BUILDING & LOAN ASS'N.

Supreme Court of Missouri, Division No. 2.

June 14, 1898.

TAXATION — BUILDING AND LOAN ASSOCIATIONS.

Rev. St. 1889, § 7539, providing that building and loan associations shall be taxed by the persons holding shares therein on which no loan has been obtained from it, returning the same for taxation, and paying the tax levied thereon, excludes levy of any tax against the association in its own name.

Appeal from circuit court, Jackson county; Charles L. Dobson, Judge.

Action by the city of Kansas City against the Mercantile Mutual Building & Loan Association for taxes. Judgment for defendant. Plaintiff appeals. Affirmed.

A. M. Allen, W. F. Allen, and R. R. Jamison, for appellant. Porterfield, Pence & Webster and Leon Block, for respondent.

SHERWOOD, J.

The result reached by the lower court was that the property of a building and loan association could not be assessed or taxed in its corporate name by Kansas City. The revised charter of that city, in reference to municipal taxation, declares that: "Every person owning or having under his control any personal property subject to municipal taxation," etc., "shall deliver a list thereof to the city assessor: * * * Sixth: The amount of stock or shares in any company or corporation not required by law to be otherwise listed." Article 5, § 10. Section 13 of the same article provides that the property of all corporations and companies, except incorporated banks and such other corporations as are excepted by state law, shall be assessed and taxed as the property of individuals is assessed and taxed. The property of building and loan associations is excepted from assessment and taxation by state law; that law providing for the assessment and taxation of such corporations by assessing the shareholders on their shares, and from them collecting the tax. Section 7539, Rev. St. 1889, has its original in Laws 1885, p. 234. That section is as follows: "All parties holding stock or shares as owners or in trust in any building and loan association in this state, on which no loan has been obtained from such association, shall be required to give a just and true list of the same to the assessor, with the actual cash value of each share, on the first day of June in each year, and the tax shall be levied upon said shares, and collected from such holder or depositor of the same, as taxes on other personal property; and any failure on...