The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-03-04

10 the city ny the increase OF taxation in the year
table is given showing the total valuation OF
property in these wards for each year since 1860,
s2i5 The rate Of increase has been nina main
taned since 1870, In spite OF the general deprecla
ton OF property. Its Increase Tor the next I'VE
years Is thus estimated -
For leIo $27i $50 9l5
or Si3 52S
ror lslg . go ''''''' as. 26s i9I
These valuations would be increased beyond the
above amounts H. by preparing vacant land Tor
occupation, houses. TO any extent, were erected.
II these houses mad residents contributing also 10
the payment OF taxes on personal property, he
receipts Tor taxes would be iurtner Incl eas ed.
In any aspect the amount of revenue gained by
the city from tins increase OF taxation VIII be very
great, IN proportion TO the share 1t contributes
toward The cost OF these improvements
it may be said that the completion of these i'm
proveInents VIII not lead 10 the Occupation OF these
uptown vacant wards. unless the, are made ac-
teSsihle by rapid transit, and that the population
VIII stlll migrate by the hundred thousand TO New
Jersey and BROOK yn, and lnusescape taxation mere,
ana this may be true. The injury bears, however,
so.eiy upon the property owner. whose property
III remain unproductive. II w,ll not bear on the
tons steadily without regard to This, and without
regard TO the decline in speculative values.
THE BENEFIT TO THE DOWNTOWN OWNER
The total amount OF the valuation OF real estate
In 1874 was:-
Upon the wards down town. below Forteth
Upon the wards up town above Forteth ''-''''''
street ................ ..........,... 24543L l75
Ana twenty third and twenty: "'''O'''io
And rSp of PERSONAL @ssas estate sgsi
2953s $40
Total. .sll54 O29 l76
rae oil S2eO per cent......... $3232Sl7
The valuations up town and down town have
since 1850, been increasing dspro POI ito a tc
rates-down town at four and a quarter per cent
! while up town it has been 1ourteeen per cent and
| the valuations OF the uptown wards WERE In 1874
! twenty.eight aud hall per cent OF the whole. If
no 20 Ia nj f,.r I'm
| years at the rate OF the last fifteen the result VIII
be, la 1872 aptown property, $4ei 2ee 29o; down
seven and nall per cent OF the whole.
CONCLUSION.
The only mode OF relief Tor the burden OF the city
! debt Is, since the amount OF annual expenditure
cannot be diminished, TO have greater amount
trary advances In valuation. but by real increase,
II the increase ol valuations up town goes on,
and is justified by progress IN the public works.
the amount OF property subjected to taxation Will
be increased, and there Is no other way to do 1t.
II does not, as may be the case, the valuatlo
and taxes on downtown property must be in
| creased.
It's Of evident advantage to the owner of prop
erty down town that this rate Of increase up town
should go on and be supported by solid increase
OF value.
The city debt is now, net, s115 1877, $50, by the
statement from the Finance Department OF Janu-
airy l, 1915.
bears as follows:-
81 soi @ yyana;iens
Ii this debt should remain the same except the
increase OF S7,450,000 Tor the improve meuts men
toned on page 26 and the increase in 1879 in val.
uarions should be as ABOVE stated, the deot
would bear as fOlows:-
Or WaI South Of s 5, 9. WSrd, or' Of E J
Proportn 766is7 PIoportn Of debt 1850 az
During the past few years OF depreciation of
value, the owner OF uptown property, who has
or settlement. has seen Its valuation the tax
books increase AS rapidly as II this
the increase has relieved the owner OF
property down town, where the valuations have
basis for such an Increase II 1t is to be con.
tInued. The prosecution OF these public improve
inents will supply it at small expense to the down
town property owner. 1t IS the most enectual
means TO save him from the like increase of tax
ation, and to furnish larger amount OF property
on which taxation Is LAID. and thus tighten Its
burden.
the assessment bonds are not included in the
above statement Of deot, because the assessments
collected should be applied 10 the payment OF
bonds. and those which are not promptly paid
draw twelve per cent interest. The proportion OF
assessments vacated is but small to the aggregate
OF assessments paid II the. assessment bonds
were ~ ue n1an oi oen, one result
the wards above FOrtleth street.
THE REGION ABOVE ONE HUNDRED AND FIPTY-FIFTH
STREET.
These estimates have been limited to the region
between Fnty-nnth and 155tn streets. They are
justify conclusions upon the policy OF expending
money on the uptown improvements.
street
to Kinesbridge, ana the district annexed from
Westchester county, forming the Twenty-third
and Twenty-lourth wards. nave not been con-
sidered in these statements, except that the Fort
Washington region is a part of the Twelfth ward
ana is included in the tax valuations OF that ward.
The statistics OF these regions are not at hand.
nor has so much work been done there. They are
worthy OF and will receive equally elaborate and
independent treatment. The Investigations will
support The same conclusion, that the amount
spent BY the city upon improvements there Will be
returned by increase OF value and Of taxation.
1t is the province OF TINS department It Judiclously
aud economically 10 prosecute the improvements
committed to their charge, and to set forth the
suits as they bear on the city and ON the owners
Of property, and as they promote Its general pros
pef ep ana rney are US at sSs
time, because the Comptroller OF the city
VINO until recently has been an of1lcer OF this de-
partment ans has Influenced its admlnisr ira ion,
and VINO, here ant IN his own office, has been ana
Is iamar with the iacts here presented, has,
rom his contemplation OF them, reached the Op-
structlve conclusion which he expressed in the
resolution presented by MIN in the Board OF D.
porlonment on rhe Attn February, 1876
Resolved, That instead OF further prosecuting this
OF which are OF no present utility ana are continued
source Of expense Tor repairs and upon which AZ
half years tie public interests would better served
BY im @ he e e has to S
part OF me cIv now in such bad condition. and which
constant necessity for the movement OF persons
and property.
The Comptroller stands alone in drawing such
conclusion from these facts. his reso utlOn is IN
conflict with his whole course as an officer OF this
department. and With his own judgment to-day.
II he takes these facts into consideration. They
furnish strong support Tor the desire OF the prop
erty owners to nave these pubic works prose-
cuted and 1t becomes the duty OF this depart
ment to go forward.
MUNICIPAL NOTES.
A delegation Of liquor dealers, headed by Mr.