Legal Opinion
Owensboro National Bank v. Department of Revenue
Court of Appeals of Kentucky
Decided September 24, 1965PublishedCited by 2 opinions
1Opinion of the Court
DAVIS, Commissioner.
The appellant bank challenges the legality of the formula used in evaluating the bank’s stock for ad valorem tax purposes. KRS 136.280(2). The assessment involved is for the tax year 1963, so that all matters arose and were adjudicated below prior to our decision in Russman v. Luckett, Ky., 391 S.W.2d 694.
Fundamentally, two challenges of the evaluation process were made by appellant: (1) It was not appropriate for the assessor to compute the aggregate value of the bank’s assets by including the 100% cash value of its real estate among the gross assets, followed by…
2Cases cited5 opinions
- Russman v. LuckettCourt of Appeals of Kentucky (pre-1976) · 1965
- Kentucky Finance Company v. McCordCourt of Appeals of Kentucky (pre-1976) · 1956
- Board of Sup'rs, City of Frankfort v. State Etc.Court of Appeals of Kentucky (pre-1976) · 1945
- Luckett v. Tennessee Gas Transmission CompanyCourt of Appeals of Kentucky (pre-1976) · 1960
- Johnson v. Chavies Coal Co.Court of Appeals of Kentucky · 1957
3Cited by2 opinions
- Brown v. BarkleyKentucky Supreme Court · 1982
- Martin L. Smith v. John Norman, Successor Trustee of the Martin L. Smith Revocable Trust AgreementCourt of Appeals of Kentucky · 2023