New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-12-17
TIE CITTS WEALTH.
RATE AT WHICH IT Is INCREASING.
HOW THE TAXES ARE RAISED-MoRE THAN
100000 RECEIVED II oNE DAY

HOW THE TAXES ARE RAISED-MORE Than
100000 RECEIVED ~ oNE DAY.
Few persons have any idea Of the large sums
OF money collected each year by tho Receiver OF Taxes
and his deputies the time consumed IN receiving ana
receptng for the millions OF dollars that are levied 70
carry on the City Government; The amount required 10
carry on the various branches Of municipal service
Is fixed by the board OF Estimate and Apportonmcnt
which IL composed OF the Mayor. Controller. President
OF tho Board Of Aldermen and President Of the Depart
Inent OF Taxes and Asses meuts The power 81 these
four men IA absolute. In agreeing on what are known
as the final estimates, concurrent or unanimous vote
IA requisite negative vote by one or more members
kills the item under discussion at that time The haa
estimates must agreed by midnight oil the Inst day
Of the year tits generally near That time when all TIE
items are settled although tho provisional estimates arc
considered IN November The total allowed for the rea
ent year s S3i 52S 81, Of which S2oooo0o comes
from the revenues OF the General Fund, leaving Tie
remainder TO 10 raised by The amount agreed
on ia not Immediately available I'm factthe city Govern
ment IA run on credit for the first nine months on each
year shor-tme bonds known as revenue bonds are
issued by tho Controller Those bear Interest at Per
cont and taken by saving banE n-urancecompanc'
and other corporations at par.
During the first six months OF the year the equity FAX
Commiss toner's arc engaged IN making Variations ~
property in their respective districts. Every sale OF
property open market 10 noted and In other ways
the market valuation isrcschd Thus valuations are con-
!
The taxable valuation IA about 70 per cent OF tho market
vsluA Two years ago there was a revision Of the
property in WALL Broad. Cedar Pine and other streets IN
the vicinity OF the money centre and large additions were
| made to the previous valuations Tho enllre taxable
real and personal IN the city IS then computed
from tho DO ks In the Tax ONCE aud dividing BY the
amount OF tax to levied tho rate Is ascertaned Last
wear the tax was 81 % per 500. This year the rate
was 40 per $780, owing to the fact that no bonds can
he issued for improvements Of any kind with the exec
| ton Of an increased water supply.
Its interesting to note the steady advance OF yaua
tons Of real this city for the last twelve years
For 1874 the total l,5i799j; for 1870 3d.
| 6436i5; 1876. Ss92,428.lG5; 1871 Ss95.OG3.933
1878, 5000 $50, 700; 1879. S9ls,13i350 1850 1912
571 $50: 1881 1910 1885 1896 1882. Sl.O35,2O3.sl SIG;
| 1883 S1,O701 3OGG0; 1854, S1,ll9.7Gl5o7j 1888,
| 81, lGt,443.l37.
The valuations OF personal property. on tho other
hand have beeu steadily going down. Tho late George
II Andrews one OF the most valuable officials tho
city for several Gears, who had made long study OF the
questions Of taxation strongly advocated collecting the
entire taxes from real estate II mas been found ex-
tremey difficult to collect the taxes on porsonai prop
erty except on BANK sharcs ana tneSe are now IN as
pue. In ls74 the total valuation Of personal property
was 1912 4Sl Sl, making total OF real aud personal
valuations OF Sl,l54020,l7 10 In 1873 the personal
valuation reduced to S2l73OO Id and thenccf r.
Si75 034 955 then IT has been advanced unill
tor the present year IT is $2O2673sGG manug with the
real estate valuation, the enormous total Of ST.,
on his amount the taxes arc levied ard the tax rate
erty and the real estate tax IS levied tho property
| and not on the person owning IT, That Is 10 say,
on the books the property IA known by
ward numbers. and these the tax
IA laid. Tho taxpayer knows his ward
number and receipt is made out in the form Per
sons who pay their before the first day OF NOycm
Der of each year entitled to discount AZ tho rate OF
per annum to be computed from the time OF
payiuen 10 the day OF December II any is not
paid before the first day OF December, one per cent IL
added II paid before the first day OF January inter
EFT IL charged the rate OF per cont per annum
from the the books delivered to the Receiver Of
Taxes IL paid by the fifteenth OF January, he
may his warrant for the collection by attachment
and sale
| The tax books are opened October OF ench year.
and many largest taxpayers anxious TO take
ADVANTAGE OF the discount allowed. Deputy Receiver
Vredeu berg who hai practically been IN charge Of tho
tax receipts for many years makes special preparation
for the rush Of taxpayers Any person applying 10y mall
will have bill sent him, and send the amount
of his tax by certified checL get receipt and accord
ngly a large number Of taxpayers avail Themselves Of
this privilege.
| ON October ! OF tho present year there were 2739
ray hills received and recorded I'm the tar booka These
coyercd eighty three OF the tax books. and the
| amouut received was NOR. thai S4OOO,OOO.
The following are the amounts received ana deposited
! with the City Chamberlain for the first six days OF
| October OF the present yeari