The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-07-15
Red Hot Taxation Of Nineteenth Ward
Property.
Reported Decrease Of V9A-
ues in Houses.
Why Uptown Real Estate. Pays ,Mgker Tiaycs
than that Of Down T0wl-An Appeal ffom
the West Side Association.
A Highly Important and Extensive Sub
urban Sak The Opening Of I
10th Street.


salexUo BE Held This Week.
while the Summer sostice has driven tn, bulls
and bears IN real estate from the city TO ~nJ0y
brief respite from the arduous labors IN ting bust
ness our City Fathers, alter assuming the guise OF
Supervisors take fOrcIble possession otHit branch
of our city industry and transform themselves for
the nOnce into bruins Of the most vlnuient KIND.
This
GRAND TRANSPORTATION SCENE
happened in the ''gaudy" chamber OF the Board OF
Supervisors, in the well seasoned City Hall, on
Monday afternoon, July I. A. D. 1879, and for gor-
Eeousness and grandeur rivalled any tinselled
painting voegtNn or Roberts could produce or
Harry Palmer's fertile imagination dictate The sub
Unity Of the occasion did not possess the adjunct
OF canvas, and the comparison cited with the
s.Black Crook" manager must be understood to be
merely in Pickwickan sense. The only painting
connected Herewith was the walls and ceilings
OF the meeting house." But the show neverthe-
less, was decidedly refreshing on this warm after
noon, even II the programme was slightly altered
before the performance was over.
II this memorable assemblage had not dragged
real estate matters into its deliberations, affecting
this interest to such an enormous extent we
should not touch thereon in this column and leave
the debates Of this august body to pass by I'M
Needed, save so much as is quoted in our regular
reports OF City Hall matters But as the proceed
1ngs have most vital bearing on the fabulous pos
sessions Of property, and interest everybody own
ing any real estate, 1t becomes our duty to diate
upon it.
was begun by formal session Of the aforesaid
Board, with the Mayor in the Chair aud the pro
lOgue consisted OF reading the tax rolls OF per-
sOnal and real estate, forwarded to the Super
visors by the Commissioners OF Taxes, which the
law provides shall be SO transmitted by the first
Monday In July. Under o suspension OF the rules
the rolls were received, and on the motion to re-
Ter the same for the consideration Of the Commit
tee on Taxes and Assessments the grand tableau
was enacted Mr.. Supervisor McCanerty, himself
. heavy operator and dealer in real estate, made
the startling announcement that "the rate last
year was three per cent and he had seen it stated
In the papers that the rate this year had been
reduced to two and q half per cent. He thought
II the valuation had been fixed at the
standard Of the Nineteenth ward the rate
might be set down ut six per cent The
valuation Of the Nineteenth ward was placed
at over nineteen million dollars, and the people
OF that ward, under the valuation, would be COM
PEELED to pay over six per cent. He moved that
special committee be appointed 60 consider the tax
wards. lie stated that it notorious that the
valuation OF property IN the Nineteenth ward had
II put under the hammer 1t was supposeu that
the rate is TO be two and half per cent but under
tnlS valuation
SOME WARDS WILL PAY SIX PER CENT.
Let us know what We have to pay. ! insist upon
my motion 10 raise a committee" Mr.. Cooper
stated that under this valuation three upper
wards would have to pay OF nearly fifty million
SS5 TOWN while had The bee, valuation Of property
half per cent. yet the valuation had been increased
hall the taxes OF the State, and he didnOt believe
these cities were worth hall as much as the entire
houses for $4,000 that two years ago could not be
bought for $4,000 yet the valuation had been
The action had upon this matter by the Board
now the Mayor triumphed ut first by defeating
supervisor McCarerty's resolution to refer to .
committee, which victory was afterwards turned
into defeat when His Honor had left the cham.
ber . duly and graphically described in the
comedy then and there enacted.
Now we have to deal with
FACTS AS PRESENTED,
bearing upon the real estate OF the city. Which. II
true must have most damaging eject upon up
progress Of landed property above Union square. |
The great rush for uptown property, and the rapid
improvements going on IN this direction by the |
enhanced the values 10 an unprecedented extent.
As matter OF course the valuations are raised as
this property becomes more valuable upon which
the city revenue Is assessed. Therefore 1t Is no
more tnan Just that the amount Of tax Paid by
years ago should pay this year on the same land
on the largely increased valuation But If the rate
Dl taxation on the prevailing high rate has in real.
1ty been placed at the enormous figure OF six per
cent 1t s, TO say the least
FIAeKANT OUTRAGE 81 ~ ovkRTAxED COM
and deserving Of the strctest scrutiny on the part
of the authorizes and taxpayers. Mr.. COopers |
pay on nearly 6ity million dollars valuation, While
values in the downtown wards had been reduced, |
likewise requires some explanation. Everybody !
knows that improved property below Canal street, !
excepting, probably, on Broadway and the few |
live business streets such as Fulton, Nassau, Pine,
wall Broad &c, ID Tar below the values OF several
years ago stu, we see no reason why this prop
er,y should be assessed at the rates fixed by iaw-
portion Of the city, rating at fancy prices should
be made TO suffer an addition OF three and a hall
anxiously look forward to the report OF the com.
Mittee to whom was referred the tax rolls, the
material subject Of which interests not only owners
VI properly, Out every one who has any connection
Herewith.
Mr. coopER,s ASSERTION
that "houses uptown could be bought to-day for |
$4,000 which two years ago could not be had for
$4,000" may be so, and can be explained thus |
ID al PROBABILITY TWO years ago the valuation OF |
sne same class OF buildings on the tax books was
quoted at about $1,000, while the rate has now
peen raised 10 twice that amount Such occur |
rences take place frequently on unimproved prop. |
erty, which has prospective values, and Is rated az
valuation; consequently investors are cautious |
how they load up with realty which promises to
produce an inadequate return, hence the demand |
becomes more limited, and the prices in accordance
WEST SIDE IMPROVEMENTS.
In contradistnction TO the "be arishu aspect OF |
anairs presented TO US on real estate matters by
our local law makers, the west Side Association Is
hard at work to improve this section OF our CITY,
aud TO their excrtioa mainly Is due the great en- |
hancement OF values which the construction OF the |
various bouevards, laying out OF Riverside, Morn. |
tngside and Mount Morris Parks, has so well and |
practically accomplished. The following circular |
has been transmitted to leading owners, !
operators and dealers in real estate, which ex- |
pl aus ITSELF
rHE West SIDE ASSOCIATION OF THE CITY OF NEW |
YORK.,
pu.. e. NEW YoRx, July 1873
DhAk sR-Among the results beneficial to west side
ingf ru uta
procuring are ~ ~ ~ ~
d., com pcton OF the legislation and legal
tIe "yahs out we parks and avenues and establishing
occupation '''''iS may oe pisp"iSu 'o'
and IN ogrets IN The grading avenues and streets
d,spa s, p'as io tue improvements of the parks
rress Win tSn I'd al departments 70 make rapid pro-
VIII mese WORKS, and public sentmenf That