Bank of Greensboro' v. Commissioners of Greensboro'

74 N.C. 385

Opinion

BoiiMAN, J.

Section 43 of tiie charter of tiie city of Greensboro’ authorizes tiie city government to annually levy and collect the following taxes : “ On all real and personal property whatever which may at the same time be subject to taxation by the State, an ad valorem tax not exceeding 25 cents on the $100 valuation.” This limit was afterwards extended by the act of 1874-75, chap. 184. The charter of the bank requires it to give in its stock for taxation. So that if the stock but for this provision would be taxable against the owners, it is taxable against the bank. The opinion delivered at this term in Wilson v. City of Charlotte, declares that stock in a bank is taxable as property. This being the only question made in the case, our opinion is that the judgment be reversed and judgment be given that defendant recover of plaintiff according to the case agreed.

Pee Ookiam. Judgment reversed, and judgment that defendant recover of plaintiff according to case agreed.