Cal. 499; generally, § 3356n. Mortgage, see Double, under Taxation, note supra. Nature of, 16 Cal. 332:34 Cal. 433. Payment under protest: office and contents of protest, 49 Cal. 627-8; see also 51 Cal. 614; 52 Cal. 77; illegal portion of tax severable, and can be recovered back, 51 Cal. 369: but must be specified in protest, 53 Cal. 380; protested tax on property beyond limits of Collector's district, recoverable, 51 Cal. 612; limitation of action for taxes paid under protest, 50 Cal. 303; when voluntary, not proof of duress. 52 Cal. 73; and not recoverable back, 52 Cal. 170; 53 Cal. 180; 53 Cal. 379; when is payment under duress, 52 Cal. 77, and further see Duress and coercion. Personal liability for, 16 Cal. 332; 20 Cal. 351; 39 Cal. 112, and see § 3716; individual pays, 13 Cal. 609. Recitals in tax deed, $ 3786n. Remission of, not permitted, 47 Cal. 91. Sale, see § 3771n. School purposes, for, §§ 1817-1861; collection of, 36 Cal. 375; special, 28 Cal. 254; 39 Cal. 65. Suits, $ 3808n. Title, see Deed, Sale; 22 Cal. 132.

Revenue Acts-Act of 1850, construed, 5 Cal. 241. Act of 1853, construed, 4 Cal. 352. Act of 1863, for special school tax in San Mateo County, held not repealed, 28 Cal. 254. Special Act of 1866, for Tehama County, construed, 37 Cal. 228.

3608. Shares of stock in corporations possess no intrinsic value over and above the actual value of the property of the corporation which they stand for and represent, and the assessment and taxation of such shares and also of the corporate property would be double taxation. Therefore all property belonging to corporations shall be assessed and taxed, but no assessment shall be made of shares of stock, nor shall any holder thereof be taxed therefor. [In effect March 7, 1881.]

Double taxation-see under Taxation, § 3607n.

Shares of stock-of gas corporation may be made basis for valuation of franchise, after deduction of value of tangible property, San José Gas Co. v. January, Treasurer, etc., May 20, 1881; but not also taxable to stockholders, Burke v. Badlam, June 1, 1881.

Capital stock-of bank in the hands of shareholders, held not assessable against the bank, under Revenue Act of 1861, 51 Cal. 508.

CHAPTER II.

Definitions.

$ 3617. Definition of terms.

3617. Whenever the terms mentioned in this section are employed in this Act they are employed in the sense hereafter affixed to them:

First The term "property" includes moneys, credits, bonds, stocks, dues, franchises, and all other matters and things, real, personal, and mixed, capable of private ownership. Second The term "real estate" includes:

1. The possession of, claim to, ownership of, or right to, the possession of land.

2. All mines, minerals, and quarries in and under the land, all timber belonging to individuals or corporations growing or being on the lands of the United States, and all rights and privileges appertaining thereto.

3. A mortgage, deed of trust, contract, or other obligation by which a debt is secured, when land is pledged for the payment and discharge thereof, shall, for the purpose of assessment and taxation, be deemed and treated as an interest in the land so pledged.

4. Improvements.

Third The term "improvements" includes:

1. All buildings, structures, fixtures, fences, and improvements erected upon or affixed to the land.

2. All fruit, nut-bearing or ornamental trees and vines not of natural growth.

Fourth The term "personal property" includes everything which is the subject of ownership not included within the meaning of the term "real estate."

Fifth The terms "value" and "full cash value" mean the amount at which the property would be taken in payment of a just debt duefrom a solvent debtor.

Sixth The term "credits" means those solvent debts, not secured by mortgage or trust deed, owing to the person, firm, corporation, or association assessed. The term "debts" means those unsecured liabilities owing by the person, firm, corporation, or association assessed to bona fide residents of this State, or firms, associations, or corporations doing business therein; • but credits, claims, debts, and demands due, owing, or aecruing for or on account of money deposited with savings and loan corporations shall, for the purpose of taxation, be deemed, and treated as an interest in the property of such corporation, and shall not be assessed to the creditor or owner thereof. [In effect March 7, 1881.]

SUBDIVISION 1. Property-defined in conformity with Const. Cal. 1879, art. 13, §1. Franchise of corporation taxable, San José Gas Co. v. January, Treasurer, etc., May 20, 1831; but not shares of stockholders also, Burke v. Badlam, June 1, 1881.

SUBDIVISION 2. Par. 2, Timber on U. S. lands included by amdt. 1881. Par. 3, Mortgage, etc., added by amdt. 1880, pursuant to Const. Cal., art. 13, § 4.

SUBDIVISION 4. "Personal Property" - under Revenue Act of 1861, included the capital stock of corporations, yet bank not taxable therefor, 51 Cal. 508; under Act of 1857, included what, 16 Cal. 171; under Act of 1854, included money on general deposit, 7 Cal. 37.

SUBDIVISION 6. "Credits" and "Debts" - provision added by amdt. 1880, see Const. Cal. 1879, art. 13, § 1, last sentence. Taxation of credits, see Property subject to taxation, § 3607n. Deposits in Savings Banks not taxable to depositors, Burke v. Badlam, June 1, 1881.

CHAPTER III.

Assessment of Property.

$3627. Property, how assessed. Taxes to.

$3628. Assessments, how, by whom.

§3629. Contents of statement required by Assessor.

§ 3630.

§ 3631.

§ 3632.

§ 3633.

Blank forms of statement, and affidavit therefor.
Statement to be filled out and returned to Assessor.
Power of Assessor to require affidavit and testimony.
Property of person neglecting or refusing to give state-

ment, how assessed.

Sufficient description and survey of property, how obtained

by Assessor by aid of Court.

Assessment of unknown or absent owners of property.

Same.

Property situated in another county.

Consigned property.

Trustees, guardians, executors, and administrators.
Holders of stock in firm or corporation. (Repealed.)
Property of firm or corporation assessed where situated.
Undistributed property of deceased persons.

Ferries and toll bridges, where assessed.

Boats and small craft.

Vessels, where assessed.

$ 3615.

Same.

§ 3646.

§ 3653.

Map of property assessed in cities or towns.

Notice of meeting to equalize assessments.

show what, when made.

§3656. Penalty for failure of Assessor to complete assessment book

or transmit statement.

§ 2651. Delivery of assessment book, etc., to Clerk of Supervisors.

$3655. Statement by Assessor to State Board of Equalization, to

§ 3657. Persons claiming ownership of property and desiring to be assessed.

paid.

§ 3653. Supervisors to furnish Assessor with maps. Costs, how $3659. Lists of land sold by State to be transmitted to Assessor of county where the property is situated. $ 3660. When Assessor liable for taxes on unassessed property.

§ 3661. District Attorney to prosecute Assessor for unpaid taxes,

when.

$3662. Judgment, when entered against Assessor.

§ 3663. Assessment of water ditches, toll roads and telegraph lines. § 3661. Assessment of railway property by State Board of Equalization.

$ 3665. Assessment as basis of taxation.

3627. All taxable property must be assessed at its full cash value. Land and improvements thereon shall be separately assessed. Cultivated and uncultivated land of the same quality, and similarly situated, shall be assessed at the same value. A mortgage, deed of trust, contract, or other obligation by which a debt is secured, shall, for the purposes of assessment and taxation, be deemed and treated as an interest in the property affected thereby, except as to railroad and other quasi-public corporations. In case of debts so secured, the value of the property affected by such mortgage, deed of trust, contract, or obligation, less the value of such security, shall be assessed and taxed to the owner of the property, and the value of such security shall be assessed and taxed to the owner thereof, in the county, city, or district in which the property affected thereby is situated. The taxes so levied shall be a lien upon the property and security, and may be paid by either party to such security; if paid by the owner of the security, the tax so levied upon the property affected thereby shall become a part of the debt so secured. If the owner of the property shall pay the tax so levied on such security, it shall constitute a payment thereon, and, to the extent of such payment, a full discharge thereof. If any such security or indebtedness shall be paid by any such debtor or debtors after assessment and before the tax levy, the amount of such levy maylikewise be retained by such debtor or debtors, and shall be computed according to the tax levy for the preceding year; and every contract by which a debtor is obliged to pay any tax or assessment on money loaned, or on any mortgage, deed of trust, or other lien, shall, as to any interest specified therein, and as to such tax or assessment, be null and void. [In effect March 7, 1881.]

Full cash value-defined, § 3617, subd. 5; of gas main laid in the ground, Assessor's estimate of, not revised by Courts, San José Gas Co. v. January, Treasurer, etc., May 20, 1881.

Lands-provision for assessment of, conforms to Const. Cal. 1879, art. 13, § 2; previously held, that assessment of tract owned by various parties, as an entirety, erroneous, 42 Cal. 123; but that city lots may be assessed by blocks, 43 Cal. 534; 44 Cal. 620; though not to be arbitrarily divided in the assessment, 28 Cal. 72.

Mortgages-and similar obligations, provision in section for assessment of, nearly identical with Const. Cal. 1879, art. 13, § 4, except last clause, which is taken from $5 of same article of Constitution.

3628. The franchise, roadway, roadbed, rails, and rolling stock of all railroads operated in more than one county in this State, shall be assessed by the State Board of Equalization as hereinafter provided for. Other franchises, if granted by the authorities of a county, city, or city and county, must be assessed in the county, city, or city and county within which they were granted; if granted by any other authority they must be assessed in the county in which the corporations, firms, or persons owning or holding them have their principal place of business. All other taxable property shall be assessed