Georgia Railroad Bank & Trust Co. v. Richmond County Board of Tax Assessors

Smith, Judge.

At issue here is the interpretation of two provisions of Code § 92-2406 which imposes a tax on the shares of the stockholders of banks or banking associations. On stipulated facts the Superior Court of Richmond County interpreted the statute to mean that the Georgia Railroad Bank & Trust Co., for taxing purposes, could deduct from the value of its shares (1) the value of only the equity it owned in its bank building in Augusta, and (2) the value at which land it owned outside Richmond County, some of which was located outside Georgia, was returned for taxation in its taxing…