Rensselaer Semi-Weekly Republican, Volume 20, Number 55, Rensselaer, Jasper County, 14 March 1899 — The Assessors Can See The Books. [ARTICLE]

The Assessors Can See The Books.

The Supreme Court Friday held that an assessor has the right to examine the books of any building and loan association to ascertain who owns paid-up or other stock which has not been listed for taxation. The suit came from Monroe county and was brought by John D. Morgan, county assessor, against the Workingmen’s Building and Loan Fund Association. The officers of the association refused to permit the assessor to examine their books. A writ of mandamus was applied for and was allowed, but the Circuit Court sustained a demurrer to the writ. This judgment was reversed and the Supreme Court held that it is a settled law of the State that any kind of stock in building and loan associations is taxable at its true cash value, and that any law either directly or indirectly exempting such stock from taxation is in violation of Section 1, Article 10, of the Constitution and is therefore null and void. The court further held that it is a settled law that county and township assessors, county auditors, the auditor of state, boards of review and the State Board of Tax Commissioners have the right to inspect and examine the records of all public officers, and the books and papers of any corporation and taxpayer in the State for the purpose of listing property for taxation. This decision is of special interset in this county because of the refusal of certain banks and other to show their books to the county assessors. The right to inspect such books is now plainly asserted by the supreme court. The court also held that if any person refused to produce the books asked for that they could be mandated by the circuit court. But if the circuit court refused to issue the mandamus, probably the only 'temedy would be the long and expensive one of an appeal to supreme court. This last observation being suggested by the fact that, hitherto, every attempt made in this county

to put supposed omitted property on the tax duplicate has been defeated in our circuit court.