Bank v. Tennessee, 104 U.S. 493 (1881)
U.S. Supreme CourtBank v. Tennessee, 104 U.S. 493 (1881)
Bank v. Tennessee
104 U.S. 493
A bank, by its charter, is required to "pay to the state an annual tax of one-half of one percent on each share of capital stock, which shall be in lieu of all other taxes," and is authorized to "purchase and hold a lot of ground" for its use "as a place of business," and hold such real property as may be conveyed to it to secure its debts. With a portion of its capital stock, it purchased a lot with a building thereon, a portion of which it occupies as a place of business. It took, to secure money loaned, a deed of trust upon three city lots, which it subsequently purchased under this deed, and now owns. Held that the immunity from taxation extends only to so much of the building the use whereof is required by the actual wants of the bank in carrying on its business. The remainder of its real estate is subject to taxation.