136 Mich. 451 | Mich. | 1904
A mandamus was issued by the circuit court directing the common council to reduce relator’s assessment. This order is brought before us for review on certiorari. The case turns upon the following questions : First, whether section 17 of the act for the incorporation of building and loan associations is within the title; second, whether such provision, if within the title, is constitutional, — that is, whether it is within the power of the legislature to exempt from taxation stock held in such corporations and mortgages held by the associations; third, whether section 17 is repealed by the general tax law of 1893.
. Section 1. That all property, real and personal, within the jurisdiction of this State, not expressly exempted, shall be subject to taxation.” 1 Comp. Laws, § •3824. ■
“Sec. 2. For the purpose of taxation, real property shall include all lands within the State, and all buildings and fixtures thereon and appurtenances thereto, except such as are expressly exempted by law.” 1 Comp. Laws, § 3825.
‘ ‘ Sec. 8. For the purposes of taxation, personal property shall include: * * *
“7. All shares in corporations organized under the laws of this State, when the property of such corporations is not exempt or is not taxable to itself, or when the personal property is not taxed. * * *
“ 13. All other personal property not herein enumerated, .and not especially exempted by law.” 1 Comp. Laws, § 3831.
“Sec. 11. All corporate property, except where some other provision is made by law, shall be assessed to the corporation as to a natural person, in the name of the corporation.” 1 Comp. Laws, § 3834.
¡Repeals by implication are not favored, but it is scarcely necessary to invoke this rule, as it seems to us that the rights under section 17 of the building and loan act are .-expressly saved.
The order of the circuit court will be affirmed.