New-York tribune., 1896-01-19

Church and ch lraile properties. - - 49,.
veterans nrcmcn and militia. 0o3ssci
ro,., 49, so
Total assessment ior is9i.............. .i'
Increase ................... .........'. N"''f'fo
HOW THE EvADERs WORK
The Board makes these remark about tax -shirk-
ers and their methods
The methods Of evasion Of taxation arr various
and amos, incredible. one favoritc method. most
y confined the larg" cities, IL IN 'Itt,t a.
follows: 4 wealthy person buys Government bonds
or other non-taxable securities and borrows large
sums OF money them from banks, Just ABOUT
swears to that amount Of indebtedness an! mas i,
deducted from the value % his taxa pc es'a.n '.S
wlping out great part. II not all OF his entire tax
Thc fo.iowing is another method which has come
n the noti.e of the Board For obvious reasons
names are suppressed: Il made an AFFIDAVIT that his
personal property would not exceed 500 In VAlua-
ton and while upon the question Of indebieiness
he stated that he owed certain Natl'nai @ ,ank n
his departure Subsequently, II. Was reea.lei IDr
further examination. and his subsequent cND ana.
u confessed to the fact that he held - shares
in the sane National bank. valued at S2'o" lpon
from the bank promissOry note. claimed me
deduoeon and In this way had been able - ~
the payment of taxes upon his entire fortune, me
only explanation yOuchsafcd 10y the bank oinc.a's
was that II was purely private arair, and had
riga, to lend money whomsocycr 4 picases when
ne security wiz Warrant j. In most cases ,h ,he
rrcilar legitimate course Of their business in loan
ns ,nonev thcv arc used by interruptions persons
for ultcror purposes.
There is" says the Board. great lack Of nni-
formity IN the assessing of banks ani bank stock
throughout the State. Each assessor seems 10 hc
a law unto himself Judge D.Sons ruling In STRAIT
ton agt. Collins a. vroom. 56D has been followed
In some few cases The method adopted by the
learned Judge In that and which has been r"-
fcrred to in our prev ous reports. is az follo"s
The value per share At which bank stock - 10
be assessed - determined by dividing the capital
stock surplus fund and individual profits OF the
bank as shown by the quarterly statement re-
qu!red by the Controller OF the Treasury ai tho
close Of business May T. by the number OK shnfe@
''In the case OF The National Bank OF Mount
Holly n, the November term. ISL, reported In ID
Vroom. Judge Dixon further says;
Bark shares may De rated at more than woul1
be produced by a division OF the capital ana sur
plus among all shares the banks business AMI
franchises being likewise entitled to consIherato on
IN fixing their real worth
"Rank shares are included IN the constitution.
mandaie that property shall be assessed for taxes
under general laws. and by uniform rules accord
ing TO i,s true value Constitution. Article ",
Section I. par l2)
..The assessors complain Of the great difficulty
they experience In finding ont who are thr holders
Of bank stock IN their taxing districts. and the
weight OF opinion among them IS that II banks were
required 10 report to the state Board or I1Aauon
the names residences and number or shares oi iheT
Shareholders Of the day when by ldw the as
sossmcnt commences. and then have this Board
send out printed slips to the Taxing Hoards or
Assessors OF each locality OF such holdings. very
few shares II any would escape taxation"
SUGGESTIONS FOR REMEDIAL LEGISLATION
The Board sent letters to taxpayers asking these
questions:
J. What remedial legislation. II any. should be
passed by the LEGISLATURE on the SUBJECT oi ""'o
2 Wast has been the practical effect Of The lesls-
lation that created the state ItoaTd OF Iax@,n
iicn:
Ex-Mayor Hewitt of Ncw-York. replied as fol-
lows:
Gentemen In 1epy to the ercu,5 esr sent m tho to
laws relating to taxation in the state OF New,J@r-
sey gives me pleasure to state mat tne oxn,n aon
has been productive Of very great aivantase. not
afrordng "A summary relief for citizens who had
any reason to feel oGsr.evel by local asse'm ma;
either as owner manager Of very large invest
ments in the State Of New,Jrrssy in regard to
uncertain and very unsatisfactory. The only safe
rule for taxation s actual value. lAicr the Tax
new Constitution in 1876. nominal values were. in
the case OF corporlions. taken the basis OF as
sessinen;. The Injury the State was incaicrable.
ard unless the law had been cfanged ne result
E1a 4@yS 9ssn @ to the s's ae S @ r hS ev s
rcmctlcd the irregularity II assessment YVES a seri-
injustice. which could not be- rcdres.ed Except
through the courts. "A process which slow. cx-
pensye and very unsatisfactory The creation II
the State Board Of Taxation has removed most OF
the evils cymplainei Of and can hardly express
the relief felt by large taxpayers from the fact
that there is tribunal invested with summary
LOwer 10 redress The valuations and establish far
standard Of taxation Throughout the state. | do
know whether the State Board desires 20 se-
IN G on Gu. esc n Ga" w 1ay mai bay any, gg
occasion to invoke its Intervention has been most
satisfactory. The ass ssors throughout the State
having n distinct rule Of valuation laid dCWn by the
Board. ana with the knowieGgr tAat their action
can be revised. steadily reaching just stand
Of business ard the development Of the State
Without attempting TO answer your questions
categorIcally. | may say that the property In the
State Of Ncw-Jersey divides itself roughly Into:
l. Real property.
Q Personal property
g. Mining property. which liz usually assessed as
real property.
a. Railway properly.
As to real property, think the law does not need
any amendment, because II the assessors make any
error Il can be rectifed by the State Board
As TO personal property my own opinion Is that II
VIII be greatly to the advantage Of the State If it
prior to the adoption OF the Constitution in 1SiG
Unless the Cons tuition be amended. however. f.
Will not be possible TO relieve personal property from
taxation. | do not feel called upon therefore 10
discuss the question IN the present communication
AS to mining property think the law should cx
Is at best difficult to determine. The value Of The
real estate can readily ne reached. md s value ia
mnc which VIII not to work Is for the time being
worthless. AS the lew now stands mining pronertv
is practically ccnnscated when 1t ceases To- be n
year more than 500 0c0 OF mining propertv vhich
practically worthless, and shall he c6mneiied
% appeal to the State Board for relief unless tbe
iron mines of Northern New-Jersey " '''e
As to the railways, ! think only roads which earn