Appeal Tax Court v. Rice
Court of Appeals of Maryland
Appeals from the Baltimore City Court. The appellees in proceedings under the Act of 1876, ch. 260, sec. 28, petitioned the Court below to have stricken from the assessment under that Act, certain shares of stock belonging to them respectively, as members of building associations. The Court (Pinkney, J.,) granted the relief prayed by order passed the 25th May, 1878; and the respondent, the Appeal Tax Court of Baltimore City, appealed.
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Appeals from the Baltimore City Court. The appellees in proceedings under the Act of 1876, ch. 260, sec. 28, petitioned the Court below to have stricken from the assessment under that Act, certain shares of stock belonging to them respectively, as members of building associations. The Court (Pinkney, J.,) granted the relief prayed by order passed the 25th May, 1878; and the respondent, the Appeal Tax Court of Baltimore City, appealed. The cases are further stated in the opinion of the Court. A building or homestead association or land company is a corporation possessing general powers to…
1Opinion of the CourtMiller, J.
The appellee, Rice, is a member, and owner of four shares of the stock of “ The Harlem Permanent Building Association of Baltimore City,” and he was assessed therefor under the Act of 1876, ch. 260. He now claims exemption from taxation in respect to these shares, upon the ground that all the capital and funds of the association are invested in loans to its members, secured by mortgages on real or leasehold property, and that by the first section of this Act, “ mortgages upon property in this State and the mortgage debts respectively secured thereon ” are exempted from taxation. This…
2Cases cited5 opinions
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