First Bank of Deer Park v. Deer Park Independent School District

GRANT, Justice.

First Bank of Deer Park (“the Bank”) appeals from a summary judgment in a case in which the Bank was seeking refund of ad valorem taxes on bank stock in the amount of $29,018.22 from Deer Park Independent School District (“the School District”). The School District assessed and collected ad valorem taxes from the Bank on its bank shares for the years 1979 through 1982, and it included in its computations the value of United States obligations held by the Bank. The Bank paid the taxes for each of the years without protest.

In July, 1983, the United States Supreme Court, in a case…