Oliver Wendell Holmes, Jr.

“ The railroad company contends further that although this contravenes the letter of the statute, the requirement of equality so far outweighs the requirement of a tax on the full value of property, that if, by misconduct elsewhere, both cannot be observed, the rule of equality must prevail. It should be mentioned that the franchise tax is both state and local, and that after the same has been laid and apportioned between the state and county, etc., by the defendants, the state auditor, who is one of them, certifies to the county clerks their proportion of the tax. ”

“ The only ground of jurisdiction alleged is that, under the tax laws of the state of Kentucky, as administered by its executive officers, the railroad company is deprived of the equal protection of the laws, contrary to the 14th Amendment. The Constitution of the state requires all property not exempted from taxation to be assessed at its fair cash value; but the bill alleges that the county assessors uniformly assess the property assessed by them, which is the great body of tangible property in the state, below its cash value. ”

“ It is obvious that the accidental sales in a given year may be a misleading guide to average values, apart from the testimony that some, at least, of the conveyances did not report true prices, yet they furnish the chief weapon of attack. ”