Farmers Insurance v. Linn County

Plaintiff’s contention, is that its stock should have been assessed for the 5-mills tax on the valuation, under Section 1310, Code Supplement, 1913, instead of for the consolidated levy, as provided by Section 1305. Claim was also made in plaintiff’s pleadings and evidence, though not pressed here, that all other property was persistently undervalued. Plaintiff demands a refund of the excess paid, and a cancellation of the excess for the year not paid. The par value of the stock of the plaintiff, Farmers Insurance Company, 2,000 shares, was $200,000. Of the 2,000 shares, the president, Smith,…