The New York herald., 1876-12-30
TAXES AND ASSESSMENTS.
THE COMMISSIONERS REPoRT-REFoRMs REC
oMMENDED.
The following extract from the forthcoming report
of the Department OF Taxes and Assessments will be
read with interest by Taxpayers
rHE BAsk ASSESSMENT.

read with interest by taxpayers
the BANK ASSESSMENT
The assessments shareholders OF banks during the
past three years nave been as follows -
~ @ .oso
1879 as39 .o,s
This exclusive Of the real estate belonging banks.
which i assessed n common with other res estate anu n
1873. The OF upon banks and
their sharehoder in 1876 those Of 1879 was there
srrkcr or rnK new ASSESSMENT
manner to the approval Of the highest In
ss ss roll
its results should be an occasion Of 20 the gen
SO is aimed beyond question that the method
s int as % s ax snd ia
Che non the ;eaehoae.s G p g banks w prob %
distribution IN cases, the surplus reducingt TO
the mnmum required By law and IL others BY
cline in prices Of most commodities requires smaller
factor not ignored its presence diminish
the force q The statements made a herein here
has gained advantage h n "esnn'nT os
S os shs sdSssse and II addition the
advantage general widely dised Of available
employed to candle and utilize that capital whose
the capital Of which they are the custadans ana admnis
traitors is diminished
3u may be asked not the Commissioners Of Taxes
responsible bringing about this condition of things The
law and its administrators responsible Very Curl
ousy the interpretation Of the law which compelled the
Two banksn city TO tho relative propor
made Isl, s the siase
such and quoted the decision OF the supreme
Of this duty the also required by abse
anen enaemen. = tor wai violation Of which they nen.
roA contains true statement Of the taxable
ni true shsro according Judgment
and and ss and na AZ se ssys are @
State Assessors add The above decision plain and
be but the surplus should be ncuaed In the
valuation of the shares by the assessor
nee issio q
taxable % proPsy a. is @ and srme ssns when
Judgment and belief as 70 the true value q real estate
The Commissioners have heretofore presented the nsn
cen injurious character OF the laws taxing personal
year he
conviction becomes more general ;hat radical change In
Commonwealth The Board imy concur IN recommending
give it their ofica! APPROVAL =
the State snail &C assessed by the State Assessors upon
That The tases shall Se liked upon the value of the
ssnds ssgp and at
s e b 10 for
any deduction for investments. nrca estate;
corporations formed under the general manuic
turing law asto foster such Interests lar as may be
~ That i it shall be found necessary to secure ample
be imposed upon certain classes OF business to paid
y" That it shall be left each county TO determine by
its local Legislature whether il will tax for its local pur-
poses other descrptio of personal property
- That be relieved entirely from taxation for
State purposes
II That the Of corporations shall continue to
be taxed where situated. ms under present laws"
1t is susceptible of that the direct and in
direct results the adoption OF plan similar to this would
not ultimately add ANYTHING 80 the burden OF taxation upon
the real estate On the contrary the Commis
soners believe that act oflegslaon coul effectively
and benefit the city OF New York and with the
city the and that Mr. David a. Wells had just
probation all the conditions when he said that the adop
tion of similar in its general features would do
promote prosperity OF the State than anything
that has happened the construction and opening OF
tho Erie Canal
such in the system OF taxation would make New
York the desirable abode for people OF wealth
this continents would stud the vacant boule.
wards drives with costly and elegant mansions would
thousands artisans whose services would be needed
aolshment Of nuactories and warehouses upon the
river ronts would tend to make banks and financial
institutions and safe and than anything else
that legislation do. evive the depressed interests of
real estate with speculative and cphemera giow but
with healthy and permanent recovery based
foundation OF increased population and
Now accumulate wealth here and go else
where beyond the reach of tax laws to enjoy
that wealth. Then. men who have accumulated wealth
elsewhere womb seek this city residence ring ad
vantages superior any other city Here would
course for public libra
and for the cultivation and development of aesthetic
tate With common an indssoube interests the stare
wond share the OF the cty and should be
achieved that future which New York under wise
legislation and administration undoubtedly has before it,