Gunkle v. Killingsworth

The opinion of the court was delivered by

Johnston, C. J.:

The question involved in this controversy is whether rural-credit shares issued by building and loan associations are exempt from taxation.

The plaintiffs are the owners of rural-credit shares of the Mutual Building and Loan Association to the value of $3,500, and of like shares in the Citizens Building and Loan Association of the value of $4,000. In the assessment of 1924 the assessor entered these shares upon the assessment rolls for taxation. The plaintiffs made an application to the board of county commissioners to strike them from…