342
OFFICE OF THE A’ITORNEY GENERAL OF TEXAS
Honorable0. If.&leg
County Auditor
Clay County
Henrl.ettia,
Teas
Dear Slrr Opinion X0. Q-7523
R%: Tslxabillty
of b&c deposit8
Pour recent letter Inquiresa whether noney on deposit
in a bank in this State is wbje6t to tiuatioo.
iii’6 diiwut your attenticm to Articles 7147 and 7149,
ReriasdStatutes,1925. Tbcca 6tatut6slpkkeit alew that
the mere faot that a taxpayer d-6 not have money in hi6 per-
soaal poaseat;ion foil
dam$ary 1, of a taxableyear, but ha8 it
on&;;g't in P bank,: does not allow ma& fund8 $.o yapa
.
T!~.,
You laqnirofklSO.at what percmte’e ‘suchdepofitr
are to be emk-med. By law, all property,if ncludlngmoney
ou deposit,ie raqtllred to be taxed at it6 trw and -1
vahe (for e statut;ary drfinitioo of tbo term*ialuea a8 used
ia st6tutjesrelatingto ad valorcra taxiM.on;bea ArUe 7169,
uupraji~Of course,all pmpwty +st be ,66aecseedOR the aaiw
: our Constttutisnrequlresthat tazstioabe equal end
ttn mm. Therefar%,if less than true and fplU,valw Im the
%P
bass &wasa&&mmnt of pro.pertLaother that bmk deposits a
wit .seelsingto tax bank depoidts,auat~assosr them kw
t-t ?a~on the ssms pemeutege barl.8
-9 rrs.ethwtexableprp
perti88.2
You &l&bask low the A66e6sor-0ollectmuan find.out
about sue& dopoofts. ae ,&anot consider this'inquirya quetk
disaiosd.~’
tion of lriw,axidhence psruttezw%t thereof.
,;
Yours very truly