The Providence news. (Providence [R.I.]) 1891-1906, 1893-05-29
OVER A MILLION 4 YEAR.
That Is the Way The Municipal Debt
is Now PllinS Up.
FACTS TO BE THOUGHT OVER.
The City Finances Must be Made Adequate
to the Demands Made Upon Them A
Review Of the Situation as IL stands
Today.

IDe TAX rae ~ causing mucn cou ueue
in business circles to- day, the majority OF
the progressive man favoring the ad-
vance and the smaller aud less progress
sive opposed TO 1t.
The main point to be reached In the
taxation question. however, is how to
get larger city revenue In the most
equitable manner The city is con-
stantly increasing its indeb einess and
the increase in income does not rrovide
for the constant increase In expenses.
The tot 1 present valuation OF the city
Is $155, SOC, 600. The revenue from taxa
lion is about $2,34O,O0o The assessors'
books for 1891 aud 1890 show that the tax
valuati ion was then resDectively tl41, ,OOO.-
600 and sl4O. oo0 II these averages
are maintained the taxable property
ought to reach about el63, 600 600 next
year. The average increase In income
from taxes would be about $4,000 each
year.
Enormous Increase I'm Expenses.
But the increase In the city's expenses
during the past two or three years has
averaged nearly 81, 0O0. 600 SO that the in
crease in income barely provides for In
terest and sinking funds on the amount
of debt incurred.
1t is question therefore whether even
the increase In the tax rate OF $l.00 per
tnOuSduu WOuiQ ulcet Tue
city's wants unless there Is decrease
in its expenditures. The increase In In
come last year, had the tax rate ben in-
creased. would have been only sl55, 600.
One OF the reasons why Alderman
West opposed the increase OF taxation
from $l.50 to $1.60 was because he, as
we'll as the other aldermen, knew that as
matter OF fact 81. 90 would by no means
provide the city With a sufficient in
come. Mr.. West figures tnat, IL the
necessary additional income is 10 be
raised by increasing the tax rate.
81 so instead of sl60 "If we must
have improvements, sewers. water,
curbed and macadamizsd streets. and all
the school houses we need We must pay
for them." said one of the members Of
the city government, "and il we are go.
lug o live at all We must have them"
The increase of SO on a thousand, AS Mr..
West suggests, would Increase tn, city's
income over $3.50. 900 each ye r.
Difference OF s13. 900, 900.
In sharp contrast with the city's valu-
alton of taxable property is the stat
valuation. That is now sl6s, 600, 5000, or
$4,000, 900 greater than the city's valua-
ton The state valuation was made in
1872, and has not been changed since.
In that year. too. the city's valuation was
only $1l0. 00o
The justic, and equity of the states
valuation has been more than once
proved notw outstanding the fact that IL
at one time seemed so unreasonably high.
During the last ten years almost every
! roperty in the business center OF the city
and particularly on Westminster street
,.hicn has been sold at auction has
brought. under the hamT er, practically
the figure fixed by the states valuation.
This may be taken rs evidence that the
lax on property In this city Is not so high
as 1t might be, especially ia view OF the
fact that the auction price itself Is gener-
ally low.
In conversation with News reporter
there were many represen tative real
estate dealers and owners who expressed
the opinion that the tax are not
equitably assessed. "But 1T must al
ways" said ole. ''be RENE n bered i'm
assessor Is universally criticised. 1t is
the pubic right 10 kick, aud the public
delights to do !. as often as man with
a bill appears.
Those who criticised the asse Sc I valu.
ations of property instancel mli.y cases
where there was an apparent ,iiscre pancy
between the taxsd valu, OF piece of
property aud its selling or investment
value. Washington street was cited as
a section w0ere the assessors taxed land
at $50 per foot and when the city wants
10 buy some OF the land to widrn the
street the owners want so (, OF for it
IF those mel won't sell for les thau $40
a foot, tax them Tor $40 a foot" remarked
a member of the city government.
distances were cited where prope ,ty in
said to have been purchased tor sy0) a,
is taxed for 81, 500. another of land that
i taxed at Iarni value of 3 cents Ter
70 L that is worth 25 cents, another O
an estate taxed AZ q, 400 that recently
sid for $4,000. anotaer cas-. of lipl
taxed at = cents that IL valued at ii
cents. another of iand taxed ut 8 c.nts
that recently sJld at - cents.
Taxed rs Farm Land.
There is lot Of building land all
along Butler avenue" remarked an
alderman. that is taxed as farm land,
an we are going To spend 100000 on
Butter avenue verS 500 .. The taxation
on that land should be increased. But IT.
Mon',. u less the land is plated IL wi
still be taxed as farm lani."
1nere VAS a tendency ia the conver.a
tIons OF all w1o criticised the asses sors
TO call attention to the political aspect uf
the situation. Some went even so far as
10 think that that mat ers would be DIFF
.,.l. 4.