The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-11-16

We give the Tax Commissioners the full ad-
vantage Of these figures. which in each case
are for the year preceding the assessment year.
and which include buildings projected but
never built. and also schools. churches and other
buildings exempt by law from taxation. and
consequently not included in the assessment
figures. Moreover the values OF buildings. as
filed by speculative builders In the Building
Department are often more or less exaggerated.
IT, as is generally admitted. real estate has
declined 33k per cent. since 1872 we must. In
order TO arrive at a Just estimate Of the present
aggregate taxable valuation Of city real estate
deduct one-third from the valuation OF 1872
and add the value OF buildings and improve
ments made since that date-thus
Valuation in 1872 Observation-Disclosures 7p7 t2s ii5
Deduct = OF tins valuation ass 7Cs37i
Result 1881 4ie7
This sum. 1891 .4l6 744 represents fair es-
innate OF the value OF city real estato for pur-
poses OF taxation. after deducting shrinkage.
II to this sum we add s137 1874 400. the aggre-
gate value Of the improvements made. or as
sumed to have boen made In the last six years
we have a grand total OF 1868 al .243. instead OF
5000 1855 700. as the aggregate taxable valuation
of New York city real estate for the current
year.
While assessed valuations have been thus ar
bitrarily increased. the rate OF tax for 1878 Is
slightly higher than in 1873. Since 1873 the rate
OF tax has varied as follows
1878 ...... 81 50 on flonlls7s ..... 81 on 500
1874 ........ 2soon i9olisII ......... 2e5 on LOO
The amount Of taxes imposed by the Board Of
Supervisors increased from t2s. 22s .490.70 In
1878 to tS6.367.7 44.75 in 1875, an increase OF
$3.50 .05 in two years. In 1876 the taxation
Of New York city was 1900. 900. The total tax
for the present year Is t3O.O79. o77.12. Only the
very rich have been able to bear up under the
burdens imposed on cty real estate. which pays
from three-quarters to four-fiths Of the total
amount Of tax levied. the balance being borne
by personal estate. Thousands OF industrious
poor men. who had invested the savings OF
years in the purchase OF an uptown lot. on
which they paid one-half cash. leaving the bal
ance on mortgage. have been utterly ruined by
taxation and assessments. amounting practi-
cally TO connscation. And this without taxing
into consideration the great decline in uptown
real values.
Few OF our mechanics and tradesmen. those
who pay the taxes by the labor OF their hands.
are aware OF the immense sums yearly con-
sumed In the payment OF the salaries OF city
officials Between eight and nine thousand
employees receive an aggregate OF salaries OF
over $4,000. 0OO-one-third OF tho total tax levy
for the present year-and this. too exclusive OF
mechanics and laborers employed by tho city.
OF the taxes of 1878. the interest on the city
debt consumes s9.164. 3S3.65; the redemption OF
city debt t1.155. 297. Sd; the State taxes SOIL
S26.66; total. 1921 .007. 81 leaving for all
other purposes sl5.s4s ,O69.15. Nearly two
thirds OF this sum. ovor go GOO. 900. arc divided
up among city officials and their employees.
-. II. -
Of London. with population OF not less than
1000. 900 amounted for the official year ending
IN 1878 To- fTO3SSi4. which, roughly stated. Is
about s35 1874 22O or less than 50 per capitn.
Our munich al Government costs $50 per capita.
In no other city Of the world does II cost
t3yOOO0OO 10 govern one million OF people.