New-York tribune., 1880-02-07

cent Of the total valuation while in 1878 II was as
sessed only small fraction 13 cent OF the total
valuation OF that year of real and personal property
The increase Of the valuation OF real estate from 1o'
70 s7s amounted $641 14673s The decrease IN the
Valuation ofpersona properly in the same period In
.Nsuyork Ctv alone amounted TO $109, ,417,347. The
necessity Of modification In the law the assessors
think is plain IN regard TO this they make the follow
ing important recommendation
"whenever a change IS made in the laws taxing
prbperfy we would in the strongest possible lnnn
ner that the OF real and personal properly De
put upon the equality and that personal property
now just debts OF the owner. IL is unus 10 me
owner OF real estate thai he shall oe OBLIGED 10 sy
regard 20 any encumbTances there may be upon me ie
estate when person who wns $4,000 OF GoyernDeht
bonds NAV buy $4,000 wor h OF goods. and borrow
$4,000 on bis aunds, and then 20 scot free OF paying
The Assessors think that the laws need amendment
regarding foreign bank capital so that II may " s
taxed, as IL comes in competition Win the c"p'" u
The Assessors make the novel recommendation that
accordingly in OF the fact that the rails anu ~
of railroad track are so elassed ana taNeg psur-
The consider the suo1eeL OF tsxnS d for
ance companies stating the various plans pr'poseu IOr
taxing them and the objections made 10 eaeh oan.
ing life INSURANCE companies they say rte npon the
resort to a specific tax at 10 9W hase ese @Dn
assets the surplus or me m comnancs the Asses
sors saw II would seem bnt just that these eompah
Stateaod that a tax OF three iOurths OF per cent,
or even cent. upon SO much OF the surp,us ns
Regret is expressed at the high rate OF taNalo I'M
posed upon the banks The question OF taxing savings
banks ia considered 1t is shown that MASSACHUSETTS,
Connecticut and other States derive large ln-
comes from these banks. The Assessors say:
at is uuqucstonably true In this state as
in Massachusetts,, that savings banks are used
by persons independent circumstances SO as TO avoid
payment of taxes on personal estate. Three hundred
and thirty-fOur millions of dollars is very large
amount of capital to be exempt from taxation"
Attention called TO the laws about the railroads ana
they are declared be sadly in need OF amendment
The exem pon of hundreds OF millions OF real estate
from taxation is denounced.
In conclusion, the Assessors recommend that the
Governors suggestion that commission be appointed
revise the of the state be adopted Ihey say
also Whatever is done the Legislature VIII nnd an
easy task laws improving the present Qpes-
State Assessor Briggs presents a supplementary re-
mort Inch is not agreed by his colleagues in which
he sketches au elaborate plan for equaizDg taxation
among the counties of the Stale. Mr. Briggs also de-
clares himself in favor OF taxing churches. he says;
Is not the amount OF state tax that would be levied
upon every building used for public worship. and the
LOT on which stands contribution by the state 10 the
religious denomination that owns ti And Is not the
tax on every $1,000 OF property OF a minister
or priest exempt contrbution by the State indirectly
in this for religious purpose Is there any rea-
why the minister of Plymouth Church should oe
exempt in his real and personal property. S1oOO from
taxation for ali purposes, when his saaryls S2OOOof