63 Wis. 77 | Wis. | 1885
It was stipulated that the affidavit on whiclx the application for the writ of eertiorcuri was founded, contained the facts relating to the assessment. It appears that the respondent is a foreign corporation engaged in the coal trade, and carrying a large stock of coal in its yards at Milwaukee, for the supply of the local market, and for shipment to points in the interior. On May 1, 1884, the company owned and had in its possession, in the city of Milwaukee, personal property, consisting of coal at its yard,
The statute provides that “ all personal property shall be assessed as of the first day of May in such year.” Sec. 1033, R. S. Sec. 1040 provides that the personal property of a nonresident shall be assessed in the assessment district where its agent having charge of its property shall reside. Also that no change of location or “ sale of any personal
But the real controversy in this case is as to the proper rule of assessment. The respondent’s counsel contends that the cash value of the property on the 1st day of May is the true basis. The city attorney claims that the rule of the statute is that the company is to be assessed, not upon the value of the coal which it has on hand on the 1st of May, but upon the average amount of stock in its possession during the year preceding that day. The latter is doubtless the rule as to some kinds of personal property, such as money, notes, bonds, mortgages, and other securities (sec. 1056, R. S.), but it does not apply to the property in question. This conclusion irresistibly follows from the provisions requiring all personal property — which includes merchants’ goods and commodities kept for sale — to be, as far as practicable, valued by the assessor upon actual view at their true cash value (sec. 1056), and to be assessed as on the 1st day of May (secs. 1033, 1040), which necessarily implies that the value on that day is the true basis for the assessment. The counsel for the city says that the company’s stock of coal is reduced to a very small amount on the 1st day of May, and he insists that it would be more
The affidavit shows beyond all controversy that the assessment of $80,000 was excessive. The board of review should have reduced it to the sum of $10,928, which it had on the 1st of May liable to taxation.
It follows from these views that the order or judgment of the circuit court was correct, and must be affirmed.
By the Oouri.— Ordered accordingly.