The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-06-15

mate, on an average OF $1,000 EACH which would
add $5,2oo,000 to the wealth OF the county.
The ten lots In each block Immediately contiguous
to those facing the Boulevard, and situated on the
streets crossing It. would increase on an average
$500 each within three years. That is, on 200 lots
the increased valuation would be SO. 900.
The next fifteen lots commencing 22j feet distant
rom the Boulevard, situated In the cross streets
and extending TO about one thousand feet distant
from it, would in the same period increase ON an
average about two hundred dollars per lot. In the
county there would be $4,000 such lots, which, at
$500 per lot would make an increased valuation OF
$7.s0 900.
All or the above increased valuation is limited TO
the land situated 900 feet eastward and westward
OF the Boulevard, yielding the following items Of
Increase
Increased yaue Of lots fronting. s. 2oo 600
Increased value OF 1900 more distant los... zso0O
Total increase of county real estate value 10000
II we allow the building OF 800 dwellings facing
the avenue or contiguous to 1t within three years,
at an average cost OF $1,000 each, there will be
added to the wealth OF this county from all these
s6frces the large sum OF s20, 100000 This would
add $40, 600 to the assessed valuation OF real
estate in Hudson county since the assessed value
IL about so per cent OF the real value. The vaua-
ton OF 1879 would become $1l0000,000, or 10 per
S %SaS Ss ans 4ss rus sas
the county, not only Tor county taxes but for city,
township or State taxes. The average rate OF the
county, instead Of being about 81 20 on the 500,
would be reduced to less than per cent.
Furthermore, It would Immediately transfer
large share OF the county tax from old Jersey City
and Hoboken to the property contiguous to the
avenue. AS much as quarter Of a million dollars
yearly, now paid by those cities for State, county
ana city taxes would be transferred to property
in the vicinity OF the boulevard and paid by IL.
Thus those cities. though distant from the i'm
provement would be Immediately and immensely
benefited by it.
In opening or locating the Boulevard about two
thousand six hundred lots will have to be pur-
chased and some hundreds OF buildings VIII be
bought and removed or sold at loss. Including
all expenses the cost per lot VIII approximate
$1,000, which would make sS,9000O0 the total cost or
opening and locating The avenue. Now, since the
entire cost OF locating the is to be paid by
side OF the boulevard the average as
for each lot to De assa q oda
lots to pay $500 000 that is the average assess
ment on each lot Will be So The salaries OF the
terests, costs of surveys. &C., VIII make the
amount approximate $50 per lot. The lots facing
| the Boulevard VIII, no doubt, be by far the most
heavily assessed, and the most distant will be but
/ lightly taxed. The above estimates OF cost are
I believed to be the highest posslble and those OF
! benefits the lowest possible. The per centage of
increase New York Tor the same time during the
progress OF similar improvement was 800 per
cent. We nave calculated upon an average in
crease OF less than 70 per cent; which WIN un-
doubtedy be more than realized 1t Is only one
fourth the increase experienced in New York.
If our position in regard to costs and benefits be
conceded to be correct, it will show that within
less, the county VIII be benefited $4,000 900 or
more. There Is very large margin of profit and
expenses could be doubled or benefits much dimn-
ished, and still snow that the immediate prosecu-
tion OF the opening and construction OF the Hud-
son county avenue is OF the highest import nee to
our progress, pleasure and interest; and in order
to exhibit to the Avenue commissioners our appre-
cation these facts and also estimate of their
services so far rendered, We move the passage OF
the following resolution
Resolved, That the completion of the proposed
w do than anything at present attanable TO real
he the objects Of this Association in PROMOTING the ad
ing and serving our highest local interests