56 Iowa 34 | Iowa | 1881
Keeping in view the rule above stated, this section of the ' statute must be construed as requiring the property in ques- ■' tion to be taxed. Indeed, it, in effect, declares that leased property shall not be exempt from taxation. Under the stat- ' ute it is immaterial, to-what-the income from leased property -
Counsel for appellant in an able and ingenious argument maintain that the money, before it was invested in real estate, was not taxable, and that accumulations thereof derived from loaning it would also have been exempt, and as this investment was made to accomplish the same object, the same result should follow. But it seems to us the conclusive reply to this argument is that the statute does not so provide.
Affirmed. .