The Jersey City news., 1891-08-01

that the estimate for next years income
is largely above the sum the city will
really receive.
AS for the former suggestion. It will
continue to have weight with those who
are determined TO find fault, and with
nobody else. The fact Is, there was
very large error in the estimate of this
years railway tax receipts from the
State. In spite OF that. the city will
its running expenses in full. only carry
ing ever the liabilities described In the
1s9l-92 Budget. as so frequently stated.
In spite Of this fact, that all expenses are
paid. the professional fault finder insists
that a sum should be put In the next tax
levy equal to the error of last year. and
he insists that unless this Is done the
error is chargeable rs deficiency against
next years tax levy. For example. he
would insist. it Is to be presumed, that
the losses a merchant charged up to
profit and loss this year are to show on
his next years balance sheet as losses
again, and so on ad infinitum.
1t is hardly worth while discussing a
product OF unreason of this description;
but the allegation regarding the sound
ness Of the calculation for next year Is of
practical importance. And this brings
us to the question Of
RAISING THE MONEY.
The total gross amount to be raised
g. .os4 e5o. .5s
The amount 10 be received from the
State on the basis Of the school
census is.... ..............-.....--.... 2ee,4lo-7l
Leaving. ng........................ sI,si4, ,siss7
The members Of the Board OF Fl
nance estimate that Jersey Cfty's
share, of the State railway tax
viii be-. ...--................... 2o.00OSs
Leaving ...................:;.,; I.sIassss7
compliance with chapter LXXv,
laws OF Observation-Disclosures. f6Ss7f.54
Making the total amount to be
raised by taxation. n..............-.S1G6 81 G6e, 7f541
The disputed element is the railway
tax allotment. The professional critic In
sists that 1t is estimated far too high.
The members of the Board of Finance
are equally positive that 1t is very prob
able figure and that at worst 1t will only
exceed the true one BY few thousand
dollars. We propose to do little more
than state the arguments ION both sides.
The objectors substantially have none ex
cept an appeal to general probability.
They ssay the city's share this year Is
only s20o, 900, and that all
likelihood is against an in
crease of $4,000 in one year.
They say it is unnai ural and unprece-
dented. They are generally willing to
allow that the share will be increased to
sos, 900. To all their remarks they add
bitter allusion to the error made last
year, which, of course, is not an argu-
ment though it seems to pass for such
with professional critics and other shall
low people.
The city officials back up their claim by
pointing out the vast Improvements the
railways have been making on all sides
and to the great tracts of land they have
bought in Greenyille and elsewhere. The
Pennsylvania Improvements; the new
tracks which the Erie only week ago
obtained permission to lay; the great ex-
tension of the Lehigh Valley yards and
tracks all over Greenyille and Lafayette;
the Central,s purchases aud extensions;
tho operations of the connecting lines, and.
finally, the great bay shore purchases of
ali the great companies are all quoted to
show the vast increase of railway interests
within the city limits. Assuming that
this is all so utilized as to pass from the
domain of local taxation. is the value
great enough to realize $50, 900. At rail
way rates, that is the income of s., 900. 900.
The whole question in nutshell, there
fore is whether the acquisitions Of the
railways in this city for railway purposes
approach that value. or, II not, what frac-
ton of that sum they will represent. This
is subject for experts.
We will now bid farewell to the SUBJ
ject of the tax levy with a few words of
speculation regarding
THE PROBABLE TAX RATE.
Here are some interesting comparisons
of figures which must form the basis of
all our calculations
Amount 20 be raised by taxation. lsst-
Amo unit to be raised BY taxation. 1880
sl--.....--...-.-...-...... -.---.... I4ootis W
Increase s2si0ss Al
Valuation Of Jersey city property as
reported 20 the County Board of
Adjudication for purposes OF taxation,
valuation OF Jersey city property as '''e'''V''
finally assessed for taxation. iss9si.- 73s5L4l5
Increase s..................... ......... saasas5o
The final valuation this year will, b ow-
ever. exceed the amount reported to the