City of Lexington v. Lexington Telephone Co.

Opinion op the Court by

Judge Fulton

Affirming.

Since December, 1934, the appellee has operated a telephone system in Fayette and Jessamine Counties while prior to that time it operated exclusively in Fayette County. Accordingly, since it had lines in not more than three counties, pursuant to Kentucky Statutes, Section 4114Í-11, its tangible property was assessable by the local assessing authorities while, under Section 4077, its franchise was assessable by the State Tax Commission which apportioned the assessment thus made to the proper taxing districts.

In compliance with the provisions of…