New-York tribune., 1867-01-03
s7l,111 So
TAXATION,

The following estimate of the taxes required for the rs
cal year commencing October oo nts Is necnrv for
objects recognized by existing laws should u
appropriations DO made, the tax Tor the Uencl" uu
wifi have TO be prOp0rtonany Increased! rus
For General Fund II mills t Eor can1ls, 1n mills
Fer v res6uon Of the Senate passed April 90 1865 the
Controller was directed "to examine the laws lcSulat
ing the assessment ana h y, 10 remedy Exist
ing inequalities also to consider the quesu1 o n ~
taxaton, . Wl oun he odopfed I'M this state" In
cordance with the order Of the Senate the ConOo 1s %
devoted such time to the subject % the nature OF DIS
ofcsI duties would allow; and although he has not bcen
able TO complete detailed report as directed IA tno ro
nfon referred to- he has made considerable progress
An the pou-y and hopes TO be prepared TO submit inc To-
suit Of his nyest cations TO the Legislature ae ah o@!
e Controer does not favor system of indirect taxa
tion as long as the General Government continues 70
u r eoU blS adjustment of the taxes real and per
sonSi prSpe1fy Il is a demonstrabe fact that as
general rule, real estate is not assessed az more
ton of personal property escapes altogether. ihere
b"rt Of T-onring sworn return be made OF all pro-
perty lae to taxation and adopting more stringent pre-
Visions for It's assessment at its value. The adoption OF
sucb rne would beyond all doubt increase the assess
ment rolls by the addition of very large amount OF pro
perty which now entirely escapes taxation. more ac-
euste valuation of real estate night be secured by In
vesting the State Board OF Equalization as al Present
possessed by similar boards In other States IL is pre-
sumed that general equalization ana VALUATION OF pro
eessary oftener than in three five years. but IL
sboud Govern In the imposition OF local well State
taxes This would do away with the practice OF I'M
dervaluaons Of real estate by local officers as there
would be no object in continuing IT,. regulation similar
to what is here proposed has prevailed Tor some years IN
The state Ohio and understood 10 Rave ad Dene-
fetal effect in correcting inequalities ara esulns e
Assessment OF property at its actual value As an add
tonal modification TO the existing laws, u Is
recommended that the distinction between per
sOnal and real property IN TGGspecd Nat 1hs
former be placed the same footing as the latter.
1t proposed that corporations whether organized under
general special laws should be assessed drecl Dy vac
annually to that officer The object which II assumed
this provision would accomplish Is that 0f inbuhg sOme
degree OK uniformity In assessments Ol corporate pro
peTty. l.,
proposed 10 is recommended that an income Tax OK say
three per cent be laid all incomes over $1,000 tho ava
State the tax 10 be imposed whenever ConsIe7
shall consent 10 remit 1t to the States Tor the OBJECT 'Pc
fled.
RECEIPTS AND EXPENDITURES.
The receipts into the Treasury during the fiscal year
ending on the 8Oth September 1866 account or all the
funds except the Canal Fund were Sl2,5IGl4 co. The
fiscal year, S13,65l lO9 80. Treasury Oycrdawn
Sept 3d. 1866 81 07495 76. In he report from this office.
submitted 10 the Legislature In January 1866 the receipts
on account OF tho General Fund Revenue, Tor to len
current fiscal year. were estimated at S0l300 IS. The
expenses for the year. including deficiency $500
Os Estimated surplus Sept 80 lsGC, $4399S6 81 The
actual receipts from all sources S749O4lO 70. The
actual payments including deficiency from the previous
year. S0ll4 053 A. Actual deficiency sept 30 1856
S22637 g. The receipts account OF the General Fund
revenue for the present fiscal year. ending Sept go 1867
are estimated at the OF $40 s2I $50 75 Estimated
payments for the year, including deficiency, SOS
646 IS. Estimated deficiency Sept 80 1861 s5609J 30.
STATE or THE TREASURY.
Amount Of warrants drawn on the treasury
| on account Of the several funds, during
the year ending aOth September, rs 1866 ee SSeS
Amount ~ warrants drawn on