178 A. 96 | N.J. | 1935
The writ brings up for review a judgment of the state board of tax appeals affirming an assessment made by the Monmouth county board of taxation upon the shares of the capital stock of the Second National Bank and Trust Company of Red Bank. The assessment was made pursuant to the Bank Stock Tax act. Pamph.L. 1918, p. 997.
The state constitution, article 4, section 7, paragraph 12, provides: "Property shall be assessed for taxation under general laws and by uniform rules according to its true value."
Mr. Justice Swayze, in Commercial Trust Co. v. Hudson Boardof Taxation,
The county board must, from all the evidence, determine the true value of bank stock for purposes of taxation. The bank's statement is not binding. Newton Trust Co. v. Atwood,
The writ will be dismissed, with costs.