New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-05
ASTONISHING TAX VALUES.
THEIR ENORMOUS INCREASE CAUSES WiDE
SPREAD COMMENT.
AN INTERPRETING ANALYSIS OF THE F1|rEtN
COMPARISONS WITH PREVIOUS YEARS
VALUATIONS PLACED on VARIOUS WELL
KNOWN BUILDINGS. FINANCIAL
IX'TTUTIONe And ESTATES
1yaTITuTrONe And ESTATES.

The nnprcccdcntcd imitation Of FAX valuations
in this city. as submitted by the Commissioners
Of Taxes and Assessment TO the Board OF Ald"r-
mon on Monday has attracted the attention not
onlv NJ thc classes in whose possession most OF
the landed property of the city, the mort 'e"~
and securities are found, but also tie masses OF
reading people Citizens generally have already
shown n disposition To inquire INTO 'hlS r'h'nN
able assessment for the current tax levy. Inc
Fourth of July is not usually regarded as ht'lh9
DAY FOR the discussion Of figures and STATISTICS
but in few places where citizens met Tor pleas
ure and recreation yesterday did they neglect 70
debate the possible reasons Tor Tie ehorhlouS
addition of S1Oj,2j4,2j4 10 the property Nalua-
tons of the city, running the tot'l sum up u
nearly 50 ooo. GOO 600. almost double what it was
fifteen wears ago. and an increase Of nearly -
per cent since IAmmany Hall assumed l"l 'on-
troll of the municipal government
The fact that nearly 30 per cent Of this amazing
.xnansion is due 10 increasing the valuations OF
nersonal holdings bank and railway stocks. bonds
MORTGAGES and like evidences of wealth, was MOI
Lost SIGHT of President Barker's explanation
that the swelling of the personal tax llS' was
oro in the main 70 the rigid enforcement OF tue
Dcvo act was discussed by many VINO nave more
or less interest in the subject lie reason w."
was not accepted as full eNpala'io" Va wv
oousos which prodnced this unparalleled advance
in the valu, Of New York personal estate o''''i
causes were believed TO bear upon the q"S'io,''
Some of the philosophers who had maze s'"'N
Of the figures published Yesterday were oSp"S'"
=. oopc,udo that TAmmGny had been seeking out
moneycd men who have not been a. iI'''"' W." WV,
camnairn contributions as the Wiswam leaders
Thought they ought to be, and giving '''c"i
taste Of the power which the organization Is
possessed OF. A., mar
.Tbe addition of over 81 100000 to the per
.orol valuation comes from the Gould estate
alne said one of the investigators; that Is more
than one-fourth of the entire personal increase
The Deyo act docs not account LOT 'nN ""s"'e''
tation Of personal assessment
I, was observed also that the shareholders OF
hanks have received considerable" a''eh''o"' ""'
that they have contributed about Slo,'oV'ooV "
,ha exnanded personal valuations, or soou oe"'
ovcr onc-hfth OF the whole increment a o''i@oN
who had been going over the lists oil those WIN
sre assessed upon 81 100000 and over oil perSohaiH'
published yesterday, remarked that many n',H'
did not appear which might be conhdeh'S lo'N'"
for in such an eXhlo'. =
The Tribune. realizing that an unusual degree oil
,rtersst has been awakened regarding mnniclpal
taxation as at present carried on ma 'P''
neither time nor expense in LAYING before It's readers
al
which win be found highly pertinent TO the SUD
200. Tables have been prepared with the care
raouired 10 make them entirely accurate SHOW
,,r tho rel and personal totals OF VaIua'loh LOT
o,ar,. vear during the last half century together
with the sum Of the taxes collected ana the '"N
rate for each year. The increase, decrease Az" ne
increase of property values from anu inViu"Ae
1871 appear here; and for purposes OF relereioe
the compensation valuations OF le9! anu io''
ara reprinted with full recapitulatlons Inc 'op'o
en- interesting 10 BUYERS and sellers Of the regular
lines of securities of insurance, truH ana I'iio""
cor,anies nonresident corporations and banks l.
taken up and the totals of these Tor the ias' 'io
years are given in special tanie'
A pecuNarlv interesting schedule is presented
Of +ba most monument buildings in this city, ana
onnosite the name Of each is placed its real es'a"
valuation as found upon the citvs tax books lOr
both 1902 and 1893 The assessed valuation OF
most of the best known banks Of the city mas also
been added Much other information relating u
tax values cleaned from variety OF sources l.
included in the following series OF taDe' ana en-
.6lanatory statements. No such exhaustive anu
thorough presentation of facts relating 10 personal
and landed taxation of New-York has ever before
been made or even attempted
II ia interesting to study the change in the value
of real and personal property in this city Tor tle
last fifty years In 1872 the value a. hAed o|
the Tax Department was S237, 80J,G5l. Inc
.,nount of taxes collected S2,O3l 1882, the
ray ratio being SO in SIT In 1sj2 the value
had increased to S3jl, T6s ,426, or AS per cent
In 1872 the amount collected from taxes was
O. $50 XII the tax rate being 90 in 81 90. he
Total increase from 1912 T. 1898 L. Sl693, l2,S'
ar 1l3 Der cent. The total value OF the real
and nersonal property for 1913 il 1913, SOP
Tho value of the real estate is 81 ,1G2,1S2,59@.
IF nu,t BE- observed that this value is not the real
worth OF the property i'll the city. The city Is
much richer than this, but this represents the
value fixed by the Tax Department for the assess
ment of taxes There are many valuable pieces
of property which are exempt from TAXATION
which. therefore, do not figure iii the oiiIcai re-
mort of the citys valuation. Oh these properties
the Postofiice Building and Trinity Church ana
its adjoining churchyaid are good examples. In
1so, the total assessed valuation OF real estate
was S25.64js67. The amount collected from
taxes WAS ST. - O94 50 ii Will be seen tat IN the
I.st lightweight wears there has been an increase
in real estate values of 81 ,136, J36,j26. Here
with a table is given showing the valuation oil
real and personal property, with the amount COL
lected from taxes aud the rate III SlOO from ls4|
10 1893 inclusive. For 1898 the valuation only
;s ciyen. DIS the tax rate has not yet been fixed
Proncrtv il ASSESSED at about 90 per cent oI It's
real value.
Eell and Amount " Rat
Year personal estate t1\ ,0ect~i' peI tI NY
lSfZ.............--. So Stool T-V'tE+,c =,