CHAPTER VI 
TAX ADMINISTRATION (CONTINUED) 
"N THE preceding chapter, the valuation of property for 
' taxation, the equalization process, and the question of 
&- property escaping taxation were discussed. The present 
chapter deals with inequalities resulting from assessment 
procedure, administration of the income and other taxes, 
tax delinquency, and possible changes in the administrative 
system. 
INEQUALITIES RESULTING FROM ASSESSMENT PROCEDURE 
Attention will be directed principally to—(1) assessment 
of bank stock, (2) assessment of motor vehicles, and (3) 
variations in real estate assessments. 
Assessment of Bank Stock 
Although it is admitted that most forms of property in 
Missouri are assessed at much less than full value, for many 
years bank stock has been assessed at practically 100%. 
Concerted efforts have been made by the Missouri Bankers’ 
Association to obtain redress from what appeared to them 
to be unjust discrimination, and some slight relief has been 
obtained. The whole question, however, is still in an un- 
settled state. Before considering the status of bank stock 
assessments at the present time, the method of taxing banks 
prescribed by the statutes will be described briefly. 
The bank is required to furnish a list of the shareholders to 
the assessor and a statement showing the capital, surplus, 
and undivided profits of the bank subject to taxation. The 
value? of the real estate owned is deducted from the total 
as shown in the assessment statement, and the remainder 
LR. 8. 1919, Section 12775. 
2 The State Tax Commission has informed the Committee on Taxation of the 
Missouri Bankers’ Association that in their opinion the proper basis is the actual 
value of the real estate and not the value as carried on the books of the bank. 
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