67-5-1102 - Valuation of stock. - Tennessee Statutes

67-5-1102. Valuation of stock.

(a)  Shares of stock assessable under § 67-5-1101 shall be assessed at the actual cash value of same, less the appraised value of realty and appraised value of personal property otherwise assessed or returned for taxation, and all such property on which the corporation pays the taxes so assessed.

(b)  The value of shares of stock shall be computed by looking to and considering the rate of valuation of real and personal property made by the same taxing authority of real and personal property in the place, ward or district of the town or county where the assessment is made, and all assessments shall make uniform the rate of valuation of the shares of stock so assessed with other real and personal property in the same place, ward or district of the town or county where the assessment is made.

[Acts 1907, ch. 602, § 24; Shan., § 790; Acts 1927, ch. 39, § 1; Code 1932, § 1391; Acts 1953, ch. 118, § 1; 1977, ch. 140, § 3; T.C.A. (orig. ed.), § 67-716.]