The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-01-07

| gOOds.
panies consider themselves under no ooligs
ton to furnish such statement. aud frequently
fuse to give It, on the ground that IL might Dc con
strued legal admission Of their liability before the
fact or amount Of the damage Is ascertsinsd
THE NEW STATE ARSENAL IN THE CITY OF NEW YORK.
A statement is hereto appended, marked T, from
which 1t will be that the whole amount paid for
the erection of the rev arsenal Is s73,lei. 10 IL
represented. that small additional appropriation
| debt Of $1,000 has bsen contracted, relying upon
the fuflment Of the terms agreed upon between the
council Of the city Of New YORK in is BY thai s
rsngement the real estate occupied by the old arsenal
to be sold by the city corporation and the sun OF
$50 COO out Of the proceeds OF the sale was to be paid
to the State for the release OF its title But tins mill
tsry companies of the city having objected to aban
den Mt Of the old arsenal the plated sale has
not been made 1t is understood that portion Of the
premises may be Sold Of sufficient value to refuod the
$50 COO advanced by the State reserviag the arsessl
buildings and much of the land Is required for
military purposes. The Comptroller does not permit
himself to doubt that the city corporation viii
such steps be necessary to indemnify the Trea
sury in accordance with the resolution passed by the
common council and approved by the mayor in May,
lS4S.
ACCOUNTS BETWEEN THE STATE TREASURY, AND THE
CITY COUNTY OF NEW YORK
The books of this office exhibit balan, against the
city and county Of New York Of slls7l6 Fl, on ac-
balance was created by the return Of the
tax assessed mutual insurance companies in that
city, for the years lS45 1916, ls47 and 1sis
The forRer Comptroller refused to place these 70
turns to the credit OF the city Ia consequence OF
doubts which entertained as to the legal liability
Of mutual insurance companies to taxation on their
accumulated earnings. No proceedings have been
either against the companies the city and county
But steps taken by the corporation of New York;
to bring the legal question Involved to
suit in the uperior Court of the city
for that purpose aed the court decided that there is
under existing laws it is understood that the city
authorities have determined to the case before
The Comptroller respectfully submits this subject
to the Legislature for definite action 1t is to be
GREETED that the question had not been put at rsst
cult to discover any ground of justice public policy
which this class Of institutions should be exempt
from clear aud ascertain profits
A question will arse, whether the balance above
stated ought to be enforced against the city and county
OF New York, under the circ umstauces OF the case
The omproer is Of opinion that it would be uursa
eopasle and neQuitabe to require payment from the
city treasury in case It shall be finally Determined that
1t cannot be recovered from the companies.
To collect it from the tax payers Of the city, would
increase their to the State beyonts just
proportion and operate 10 effect penalty upon them
Tor the vigilance Of their authorities in seeking TO
bring additional capital within the reach of taxa
tion for State as we'll as city purposes.
STATE TAX AND VALUATION OF REAL AND PERSONAL
ESTATE.
That the actual value the taxable property Of the
State much larger than the returns Of the
would indicate Is universally conceded 1t is believed
that the average valuation Of real estate does not
coed half the actual prices established by tue est
mate of the owners and the daily
buyers and sellers whilst in many counties the assess
nents fall far below that proportion. The want of
uniform rule or standard Of valuation produces much
inequality between the counties causing some to ar
Others lees than their just proportion OF the State
tax whether some farther provisions Of law not
required to ensure more equitable distribution OF the
public burthens Is question to which the Comptroller
would invite the attention OF the Legislature.
II Is not doubted that the real estate notwihstand
ing its naturalization by the assessors bears much
than its rightful share Of taxation as compared
10 sad
personal estate liable to assessment one cause of the
essoEl which generally prevails Of estimating landed
property below its true value The land open to vew
and examination. its quantities ascertainable with
facility and certainty. and by no possibility can 1t
escape the vigilance Of the The easel widely
different with the varied pecuuary interests and In
ysstmebts which constitute personal estate By many
ingenious devices, perhaps by silence the part
Of The fortunate owner large portion wealth OF
the State eudss the and escapes its share OF
the cost OF sustaining the government TO which all pro-
perty its protection The existing laws dsfeo
tive In emitting to clohe the with adequate
power to require full and correct information from
the tax payer, Of the amount OF his personal |
estate subject TO assessment Whilst ample and
proper provision has been made In favor Of the
valuation no means Whatever have been supplied to
correct estimated reach personspropsry
withhold Its existence its value from ths Wedge
OF the assessors Any person interested In reducing
assessment may at his option make On aidsv that
the value Of his taxable property docs exceed q
certain yet the officers entrusted With the difficult
duty Of ssceraining the value OF All the property sub
ject to assessment have authority TO require infor
nation OATH and the result Is that they must rely
on indefinite runners orintsrested enents and are
frequently obliged to act In Ignorance OF essential facts,
abandon the attempt to perform their Office Jnlsr
such system II follows that many Of the possssors Of
ready money -stments In funds aud securities aud
productive capital In various forms tribute little
nothing to the Treasury.
No good reason can be given, Why this species Of
property should not bear equal proportion Of the
common burthens, instead Of enjoying com psrsdse
immunity from taxation ~ the expense Of the landed
interest The owner or ocsspsnt Of tbs soil subject
to TAXATION the full value Of the land although
1t may be under a mortgage for . larger portion
osner Of the incumbrauce, though derivugs share
OF the prohts OF the land in the form Of interest
system, which tolerat.s Qualities so repugnsnt to
justice and sound policy, needs some amendment, viii
hardly be questioned. But, to prescribe the remedy
which the occasion requires Is easy task aud
perhaps no plan can be suggested whish will not call
forth earnest objections
Impressed with the Importance Of applying some
proper corrective TO the evils adverted to- the comp
iroer addressed letters to the financial officers OF
yeTa States s,kng for information In respect to their
laws regulations felaiDg to the assessment of pro-
Terty and the collection VI taxes These inquiries
have been TO With degree of courtesy wh,h
csmnnss acknowledgement and IL may b. we'll t.
slider whether some 81 the Improvements which have
been found saccs,sful other states, might proilss
satisfactory results IL adopted Ia our Tao
acmItroller deems proper, la this connection te re-
fer TO full aud Interesting communication re-
Gently received from the auditor Of the State o. Ohio
An eutire new system Of nssessment was adopted In
that state, In 1915. Its provisions we're admirably
adapted TO ensure full and cerrcct valuation ant
equalization Of all the real aud personal property ast
ly chsfgvsble With the support Of government The
ELECTS increase OF the assessed value OF
the taxsble property the h-t from sl35l42l66 la
the year lS4t to $3.50 73e 3s5 la lss9 TO coasaers
BE extent this result s attributed 70 the new resu.
stobs adopted for enforcing honest assessment OF
all the personal property Il entitled TO exemption.
In references this subject the auditor VI state makes
the following statement
IAN personal property IL ssnualy assessed By tosn
ship elected By the people of the tosnships
Fcims ard instructions prepared by the auditor Of
State and forwarded to the county auditors annually,
for the Of the toSDship assessors blsns form is
delivered to each individual Who y 9 return
the value Of bis property under oath TO the sscs
" any person refsses 70 return statement Of
his Personal property unasr oath. az required the as
asccrtsns the value from such evidence be
can obtain from his own knowledge, aud la such
he returns that the party refused osresr, and
the county auditor adds city per cent TO the
turned by the asse ssor, as O penalty.
"Merchaudise AID the stock or raw material Of
are taxed In the city town township
Ia which they are located. No matter where the
resides his real property stock Ia msrchan ise
aud mspufsetares are placed on the lst and taxed