New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-07-28
ASSESSMENT COMPARISONS


Is FAR IN ADVANCE OF THE STATE IN THE
ASSESSMENT RATES.
The report of the Commissioners of Taxes
and Assessments the last quarter which embraces
statement the results OF the years work. nasmueh as
during that quarter corrections and reductions are
completed and assessments for the year determined
was submitted the Mayor yesterday An abstract OF
its important features is appended:
The assessments for 1874, made they were during
the period fixed by law that is between the nrst Mon
day of September 1873 and the second Monday In Jan
uary, 1870, were effected during period OF extraot
binary gloom and depression. The financial crisis OF the
Fall OF 1873 felt In all its severity This financial
crisis not mere superficial scaling or OF badly
managed enterprises imprutent and uusOund dealers,
and rash spectators but 1t struck deep into the
vitals OF business, however prudently managed or
strongly intrepched, and affairs have by no means
vet recovered from the stagnation which still retards
healthy circulation IN the channels of trade
New-York City felt the shock first ana most. Always
creditor city, her merchants had to provide for both
sides OF their bllbooks aud the outlook during the
whole time tho books OF assessment were open hat Is
TO the soth OF Apr 1870. continued to he gloomy aud
dsheartenng In OF this state OF thugs, the re-
suits OF the personal assessments for 1874 are an absolute
surprise. On the fret of January ~ the Comm Ssloh
would have been glad to have hd an assurance that
the assessments upon personal property would NOT,
least fifty million dollars, and YET the diminuton
proved TO be only about twenty million dollars Inc de.
resident personal estate Is Sf36f or about
per cent The decrease on NONRESIDENT personal
estate or about ten per cent Tue decrease
the capital OF banks Is 5!521 or ABOUT three per
cent.
1t is remarkable fact that the dimnution in the
assessments for resident personal property IN 1874 as
compared with those OF 1873 (seven per cent? Is actually
less than the diminuon IN value OF the mer-
Chandse and securities upon which such assessments
are based and tar these assessments furnish in
dces Of possession the result IL gratifying as showing
the stability OF the business classes upon whom they
are In large part imposed. This apparent decrease IN
is larger than the actual decrease az 1t Is
based upon nominal assessment for 1879 from which
the snpreme Court ordered 10 be stricken the SUN
s22 $50 assessed upon the Pkcc Mail Steamship Com
pany the for 1o74 being adjusted u accord
Involved. as set forth IN me rgnort oil the
in the value OF nonresident personal estate
ia In larger prOportOu-as ten 10 scyeE-tlan IN
that OF resilient personal Ii Is much easier matter
for the nonresident withdraw his capital Sted in
business here than for the resident TO rcnOY aud this
process las been promoted by the general belief that
the rate OF taxation for lo4 would be higher imam ever
The decrease in the assessments upon the sharehold
ers banks-practically representing the capital OF
bankss Occasi0ued by the failure OF three banks the
reduction OF the capital OF three bangs and the acqIi.i
additional real estate by banks, which trans
fers their smcnts TO that description OF property
It NAV we'll be doubted whether the figures for 1874
adequately represent the actual dmiEuton IN the vaue
Of personal property In this city Many SINAI. traders
revuson of year, and did not appear to correct
cancel their assessments and others s We're LOO uOl
confused 10 make any statement Of their aRis which
they would reel JUSTIFIED verifying by OATH; aud, W.
less there should be marked revival Ia general
business the assessments OF 1875 must awaited to
veal ia full the consequences OF the commercial disasters
of 1873 1.
REAL ESTATE.
The Increase IN the valuation OF the real estate IN
1874 over that 1879 the a old wards of the city, is
t2 This Is less percentage Of Increase than for
many previous years. The IS obvious, and has
already been referred to- The response exhibited in the
assessments upon real estate TO the fluctuations IN the
market IL, and properly should be- tardy The market
always evidence OF actual permanent increase In value
The practice OF the Department Is TO defer
seem to be settled the increase in the value
of real estate does not arise from any widely disod
from the compeon of Very costly eddces Commenced
1878. and which now for the first md place upon tue
have been for some OF the accessible and i'm
provable portions brought into closer proportion to the
ably situated The addition Of the Westcheser County
towns of MJrrisania West Farms and kiugsbridge TO
and Twenty fourth Wards, very nearly doubled the
area the city, and imposed large amount OF al
making proper assessments in these new wards are eN
tremely detective, owing TO the want OF proper maps
STATE EQUALIZATION.
In their report for 1873 tue Commissioners referred to
the disparity the ratio OF valuation ia the City OF
New-York compared with that in nearly all the other
counties the state and expressed the hope that the
State Board of Equalization would at least IN part, ad
lust the difference. That hope has not been realized.
The state Assessors. upon whose EXAMINATION ana re-
port State Board Of EluazI base theT action,
the percentage OF valuation used in assessing real estate
in every county in the State except York. Ia
From able gather taking the large and rapidly in.
contrasting with the hevy derreca-
parts the the Immense AMI superior advantages
values and ratios we are constrained to Cy and
Of Ss ,.SSo. bSs % mo- ssr t4 or 9 on s
ihan the Of the state OUTSIDE he ety. We therefore feel
Je 1873 the City and County Of NewiO DO esAie at its
IN viii be observed that this conclusion based upon
the that the wealth of the city large. and
that it 0he city, has immense ani superior ADVANTAGES
Do fnasa luf
what then The large wealth OF the city Is sufficient
for large assessment but MOTOR imposing upon
her citizens an undue OF the public burden The
allegation that there has been heavy depreciation in
many parts OF the state may even be admitted as true
without affecting the claims OF this city Justice the
question remaining whether all the property III the rest
has deprecated aud that OF Now DIX alone
II is at once conceded that the city has immense and
superior advantages over the country but assuredy not
AT the expense of the State II at her proper cost
the city paye and lights her streets ENJOYS protection
from fires, guards public health, MAINTAINS numerous
local courts has a foot and mounted police. public
schools of rare excellence abundance OF pure water
and delights in spacious parks aud avenues surely the
State has aud no night TO punish the city for
these advantages. II cannot with any show OF justice
be assumed That dollar IN one portion OF the state
worth more purposes OF taxation than dollar IN
any other portion OF the state These considerations
and Others urged the attention Of the state
Assessors at their session this city in June, aud
number OF tax payers presented important statements
showing the enormous disparity between the ratio OF
In NewIOrk and In other counties. A few
Instances oil interest one citizen has sold farm 10
the interior for $4,000 which assessed for $4,000
''''"9ou
another bought property for 81 900 assessed for s2dO
and another held property valued al 5000 assessed
A. 900 Many other similar eases might De stated.
some comparisons based, IN part upon returns
possess good deal OF interest. II Is not assumed that
cens, tables are infaiDly correct but they may with
propriety be- accepted, when moving by several lines
independent yet parallel, their general drift and bear
ing point TO similar results, as an approximately truth
full basis. o...-
The OF 1860 reported in this State l435siO3
OF improved land, and the census OF 1870 reported
2O6 acres OF similar land, being increase OF
1 2ss 800 acres. The value OF the farm lands alone
$50 was reported S33 1893, and IN 1870 $2257
1866 being an Increase of SiG95lil3. 1t might be
prudent to either OF these statements alone
entirely accurate but, taken together they form toll
erably secure basis other comparisons. IL will
be noticed that both the acreage and values have In