20 Md. 502 | Md. | 1864
delivered the opinion of this Court:
The appellant assumes in the petition for the writ of mandamus in this case, that for the purpose of State taxation, a legislative assessment of the aggregate amount of interest bearing deposits in the Savings Bank of Baltimore, on the 1st of July, 1862, was made by sec. 95, Art. 81, Code Pub. Gen. Laws, and that the duty of paying the State tax thereon, at the rate fixed by the amendment to sec. 23, Art. 81, made by tbe Act of 1862, ch. 105, was imposed on the President of the bank, without regard to the existing’ character of the deposits, or right of any depositor, to exemption from taxation under other provisions of the Code.
The appellee, referring to see. 23, Art. 81, as amended by the Act of 1862, ch. 105, which provides for a State tax of twenty-five cents “on every hundred dollars worth of assessable property according to the valuation thereof,” denies this to be the true construction of sec. 95, and insists: 1st. That these deposits were liable to assessment, only upon valuation, and as no valuation appears to have
Eor the purpose of reaching a judicial determination of the several questions involved in these proposition, it was assumed, in the argument at the bar, that the aggregate of the interest bearing deposits, reported to the Comptroller, included investments made to indefinite amounts in the stocks and securities mentioned, and also deposits of charitable corporations in amounts of less than $15,000, and of persons in amounts of less than $50.
That the Legislature of the State has power to value any taxable property within the State, and' assess thereon a just proportion of the public taxes, we think cannot he disputed. The exercise of such a power, in conformity with the principle of equality of taxation of taxable values, could, in no legal sense, be a violation of the terms or spirit of the 13th Art. of the Declaration of Rights, which simply declares the liability of persons, owning property within the State, to contribute for the support of the Grovernment, in proportion to their actual worth in such property. The condition of the liability, thus pronounced, that it should be proportional to actual worth, was undoubtedly intended to prevent abuse of the taxing power, and, in that respect, prescribe a general rule to which all legislative measures for the imposition and collection of taxes, should conform. The duty of ascertaining taxable values and oí
Recurring to the language of that provision, to which alone we must go for its meaning and effect, we find that payment of the State tax is required to be made on the 1st day of July, on the aggregate amount of deposits bearing interest found to bo in the bank on that day. No time is allowed for their valuation, nor is any provisioo made for the intervention of any public officer or tribunal for that purpose, and it abundantly appears from the concluding clause, that the Legislature contemplated nothing further as necessary to be done, to ascertain the value made liable for the tax in question. The force of the terms used wholly excludes the idea of an assessment upon valuation. The rate of the tax is prescribed by the amendment of sec. 23, and as the report of the President of the bank to the Comptroller shows an assessable value, the requirement of an immediate payment of the tax thereon, operates as a direct legislative assessment; of the tax. Neither the depositors nor the bank in either of its possible relations of’ debtor, agent or trustee, can question the propriety of assuming the nominal value of the deposits bearing interest, as their true taxable value. The bank both receives and returns the deposits in money, and it is evident that a taxable value differing from their nominal value, could not bo ascertained without resorting to some measure or standard not recognized by the Code. This assessment does not affect, however, the provisions which specifically exempt certain persons, corporations, and kinds of nominal securities from taxation, nor did the Legislature in making it, contemplate any restriction or modification of those which provide for the assessment and payment of the tax on the capital stock of other corporations, in which the deposits of Savings Banks should be invested.
The privilege of exemption, granted to charitable corporations assessed for less than 015,000, and to persons assessed for less than 050, remains unimpaired, and as the
We think, upon a careful consideration of the whole case, that the mandamus was properly refused, and therefore affirm the order from which this appeal was taken with costs to the appellee.
Order affirmed.