No savings and loan association with a home office in this state shall be assessed
or subjected to taxation by the state or any county, municipality, or other political
subdivision taxing authority on its franchise, capital, reserves, surplus, loans,
shares, or accounts; except that any real property and any tangible personal property
not hereinbefore specifically mentioned, which may be owned by it, shall be subject
to taxation to the same extent, according to its value, as all other real and tangible
personal property is taxed.
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