Somersworth Savings Bank v. Somersworth
Supreme Court of New Hampshire
Petition, for an abatement of taxes. Pacts agreed. Before October 1, 1895, the bank paid to the state treasurer a tax computed at three fourths of one per cent upon the amount of its deposits after deducting the value of its real estate and the value of its¡ mortgage loans upon land in this state, as authorized by statute. The assessors of Somersworth assessed a tax in 1895 upon shares of bank stock owned by the plaintiffs.
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Petition, for an abatement of taxes. Pacts agreed. Before October 1, 1895, the bank paid to the state treasurer a tax computed at three fourths of one per cent upon the amount of its deposits after deducting the value of its real estate and the value of its¡ mortgage loans upon land in this state, as authorized by statute. The assessors of Somersworth assessed a tax in 1895 upon shares of bank stock owned by the plaintiffs. The plaintiffs duly applied to the assessors for an abatement of this tax, which was refused.
1Opinion of the Court
Per Curiam. *
A savings bank “ shall pay to the state treasurer annually, on the first day of October, a tax of three fourths of one per cent upon the amount of the general deposits on which it pays interest, after deducting the value of all its real estate wherever situated and the value of all its loans secured by mortgage upon real estate situated in this state made at a rate not exceeding five per cent per annum.” Laws 1895, e. 108, s. 1. The plaintiffs fully complied with this requirement, and ask to be relieved from a further tax upon bank stock which they purchased with a portion of the…
2Cases cited1 opinion
- Boston, Concord & Montreal Railroad v. StateSupreme Court of New Hampshire · 1883
3Cited by1 opinion
- Wyatt v. State Board of EqualizationSupreme Court of New Hampshire · 1908