New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-01-08

laws TO subject personal property n It's equitable
burden Of ta1ston u garngy apparent ro Mns con-
trary TO the requirements OF the statute assessed
below its actual value but only small portion q, 81
liable ~ assessment Is assessed AT AIT
n ia believed that not moro than third In value OF
the property liable to taxation. IL placed upon ts
assessnept rolls The two-tLrds escape taxation. ana
~ This twotbirds the great bulk is owned aud con
trood Ivy rich and wealthy capitalists, leaving me
burden Of taxation to be borne by those In moderate
c,rcnmstsnees and who the least able TO bear It, III
the members OF the Legislature believe th,s 10 90 True
fapd hc correctness OF the statement can De easily az
certaiDed 1t should arouse them At once 70 action'
vigorous and effective I..
for the assessment and collection Of taxes, the Con
roer can only call the attention Of the Legislature 10
the rooon I '"rt The ohect the T.odsIaIure should
SEEK 70 accomplish distribute the burden Of taxa
and # possible compel all property real and personal
10 be at t full value or D the language Of the
thsreof and real estate at the full and true value
thereof and at which 1t would be appraised by the IS
seStS Il that any other S rule
ton UNEQUAL and unjust The Legislature that VIII OF
feet this desirable result will be entitled TO and Will re-
The Controller rencws the Recommendation that pro
WSether orssnzed under special or general laws di
recty by the Controller on sworn Statements ana re-
way in the opinion Of Controller, uniformity of
and equality Of taxation OF that species OF
property be secured Although bank stocks are not a.
they not assessed by any uniform rule tue assessor
yaue VARYING from IS cent To IS cent In feW
Instances the assessed value is fixed at While this
species of property assessed as the law requires.
its true value, yet as whole bank stock pays more
than its proportion taxation for the reason tat real
estate and chatte personal property IA assessed 80
largely below its true value And this RECOMMENDATION
is made I'm no spirit Of hostility toward
banks the owners OF bank stock but II recommended
part of the scheme. which the Controller hopes 10
see adopted Of causing all taxable property OF every
description to be assessed at the full aud true value
thereof"
In 1868 the Observation-Disclosures. $727227t OS
la 1873 the State tar IioOo3oS DO
In 1868 the tar for all purposes known to thi, 90
In 1873 the fot all purposes known to this zoo ~
ONCE was oif'f''"" %
The gross valuation Of Ilbe property IN l8a SIT 90
The gross valuation 1873 2l2s6263so w
1,.,.,e f., Ten sG75I7I 500 %
Increase OF valuation OF 1873 over 1872, s099Ssil
The State tax for the current fiscal year Is o 'oiV
miiis' ior 'ne i'no"i"S p"po' Mills.
For schools
general purposes.
For
For New Capitol
Por canal floating debt under chapter 27l Laws of 1859
For ndertra repairs
For payment Of By Canal Appraisers and Canal Com
mssone psy certificates of Indebtedness and provide tor
deiciency 10 sinking Funds IiV
For academies suI anoa iio
The above tax OF 95loO mills the present vslua
ton will yield sli,S00,903 3d.
work on the new Capitol and other public buildings tho
following rate will be necessary for the hsca
year Mil.
For General Fund
Por General Fand de5iencY.
For schools
For floating canal debt chapter I'll Laws OF l5J2 lio
To,,I I-ZO