HALE v. STATE BOARD

No. 16.

302 U.S. 95 (1937)

HALE ET AL. v. STATE BOARD OF ASSESSMENT AND REVIEW.

Supreme Court of United States.

Decided November 8, 1937.


Attorney(s) appearing for the Case

Messrs. Alan Loth and William L. Hassett, with whom Mr. Denis M. Kelleher was on the brief, for appellants.

Mr. Clair E. Hamilton, with whom Mr. Leon W. Powers was on the brief, for appellee.


MR. JUSTICE CARDOZO delivered the opinion of the Court.

The question is whether interest upon bonds of the State of Iowa or its political subdivisions may be included in the assessment of a tax on the net income of the owners without detracting from earlier exemptions in respect of taxes upon property and without an unconstitutional impairment of the obligation of contract.

Appellants, residents of Iowa, were the owners...

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