New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-07-29
INCARNATION FOR STATE ASSESSORS.


of their claims.
1NrORM ALTON FOR STATE ASSESSORS
PRESIDENT COLEMAN OF THE TAX DEPARTMENT.
rxptAINs THE ASSESSORS VALUATION.
Til. State Board of Assessors. composed OF . w.
Wood. J. d. Ellis and j. T. Williams c,'',u ,rSose of
day on the Tax Commissioners Tor inc p"iPPVts $50
obtaining information relative 10 inc ,no in
TO, S,a and s1v the Presidents assss'ed Coleman and
Commissioner Fetner furnished the visitors an an
the information asked for NJ ;oer Years when
Ncw-York was made to bear much greater pro-
portion of the state tax tina" Tas by
tIe Tax commissioners to the State Assessors was
read. This was a formal request 10
the tho to tax make on real csate
of taxes RENTED, and $7sO937 personal laA 10,
same reason In addition TO this it was shown
that the tax on SSa9SSlS ! pTnsv in Tie city
of New.York had been paid TO the State Treasurer
in accordance with the law Of ISL dau dhs
was not a t9S% tho tho Sitys o'u QUOTA
of the State tax; it was asked that this be done
this year. ,,,..;,ro &c ran,
estate in New-York have doubled since iooS.
beginning with 1860, when business was prlsh
aud the values OF everything inilateo, thc Naua
ton of real estate was fixed at 0O per cent oI l.s
market value. The values were increased from wear
to year. In 1873, when the panic came the sales OF
real estate showed that he assessed yanatlon wac
about G5 per cent of the real value In the foow-
ing wear the prices of real estate IN the open
market had fallen so that the assessed valuation
was rs per cent of the market value: IN ioao anu
1877 the period of greatest depression the assessed
valuation in consequence of the fall IN the market
value of real estate was from w TO par; IN
1873 there was n little Improvement. ana me
assessed valuation was about 80 per cent, and IN
1870 rs per cent. In 1880 1851 and 1851 inc
prices were again bnoya nno ana sys ooo 600 each
wear There has been an average increase OF
$45. OOO. 900 in the valuations each year
Attention was called by Mr.. Coleman to the large
where it was not able to collect Them. case ~
point was the elevated railways. Judge Pratt de-
cided that they had been taxed at higher rate
an examination of sales el real estate ahu douhu
that tho average of valuation was 90 per
and rapidly increasing list OF I pTP br toy
exempt from taxation by special laws passed ov tne
Legislature now amounting ia nearly Sloo. ooo.ooo;
Mr. Coleman also referred 10 the claims presentea
on account of the bill signed by Governor I'M
against the protest of the city authorities striking
from the tax lists OF the r anu nnt we e
entire taxable area. No tax can , DC
levied hereafter any unlnproved land
the Park Commissioners in 1874 rs including
lanes streets avenues or squares designated LOT
public use. Some of these VIII not be couoenme .
and taken by the city for twenty years 10 come;
The owner will have possession free OF tax untli
actually taken possession OF BY the CITY. AL OF
the tax maps of that district VIII have 10 he
changed to conform to the Jaw list OF nearly 900
pieces of property was SHOWN by Mr.. Co eman as
having been sold within recent period. These
were scattered through every ward IN the city.
Ii was shown that the average assessed value was
so per cent OF the safes. -, r.
The Assessors asked for the market value Of Tue
TRIBUNE Times. Herald. Mills and Mutual Life
buildings: the Astor. Metropolitan. Fifth Avenne,
Hoffman Windsor and Buckingham hotels III
reply Mr. Coleman SAID that II would he unfair To
take the cream of the real estate and not offset
against il the many pieces Of property alosg the
river front aud Its vicinity and other parts OF tho
city Capitalists were more willing 10 accept "a
smaller return on the money invested where they
were reasonably of their rentals than III
the of property where more
risk was 10 be run. In very many
were placed on property by bogus sales. MAJ for
the purpose of borrowing amounts on bond and
morfga greater than the property would sell Tor
He poinie1 out that the property between t1fty-
ninth aud One-hundred -and-iity-hfth SITS. and
above that had been assessed for Riverside lafk,
side Drive, would not sell Tor enough
10 reimburse the owners for the origi-
nal cost interest and assessments. In most IN
stances property III the lower part OF the city
would not sell for Its assessed valuation ms was
the case with the Old Cotton Exchange, the Pro-
sale The old Mutual Life Binding, III Broadway.
which for fifteen years was assessed nj Tboo.OOo.
was offered for that amount, The best offer ior II
was SsOO,0OO.
tax last year was less proportIonately than Tor
several preceding years. The Assessors promised
10 take intO consideration all the facts presented
The visit of the State Board OF Assessors u
Brooklyn will be made to-day. The city author-
ties will endcavor 10 have the real estate valuation
order to equalize il with other portions OF the
Tat IA for