State v. Southern Ry. Co.

LAWSON, Justice.

This case involves the ad valorem tax assessment of the property of the Southern Railway Company in Alabama for the year 1947, based on the value of such property as of October 1, 1946.

The taxpayer returned the property for taxation at the figure of $16,049,735. On July 2, 1947, the State Department of Revenue made a tentative assessment of $21,751,496. On August 6, 1947, the State Department ■ of Revenue entered a final assessment at $25,000,000. The ' taxpayer filed its appeal under § 140, Title 51, Code 1940, to the circuit court of Montgomery County, in equity.

On appeal a…