Case ID: wend_25/html/0523-01.html
Source: Caselaw Access Project
Author: {"author": "Nelson, C. J.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

Ex parte, The Bank of Watertown vs. The Assessors of the Village of Watertown.
    Associations formed under the general banicing law of this state are corporations and as such liable like other monied institutions to he taxed on all lands and personal estate owned by them.
    Motion for a mandamus. The property of the Bank of Watertown, an association under the general hanking law of 1838, was put down in an assessment list of property liable to taxation to defray the necessary expenses of the village of Watertown, at $70,000 ; and upon that sum a tax was imposed. The capital of the bank consists of $46,000 in state stocks, and $39,000 in bonds and mortgages. The stocks and the bonds and mortgages have been transferred to the comptroller of the state, in compliance with the act of 1838. It is now insisted that the property of an association thus formed, is not liable to taxation, and a motion is made for a mandamus to be directed to the assessors of the village of Watertown, commanding them to erase from the assessment list the sum assessed as a tax upon the bank.
    
      S. Stevens, for the motion.
    
      D. Burwell, contra.
   *By the Court,

Nelson, C. J.

We are of opinion that as- [ *687 ] sociations formed under the general hanking laws of 1838 are corporations, and as such liable like other monied institutions to be taxed on all lands and personal estate owned by them. The motion therefore must be denied.

Motion denied.