The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-12-12

1.I55 acres is now owned by the railroads.
In round numbers then, there are 5000
acres Of land now in Jersey City owned
by individuals and corporations other than
railroads, and 1100 acres of land owned
by railroads.
1t is also admitted that the total valua-
tion of the real property in Jersey City
other than railroads, is $S1, 000 0O0 and the
total valuation of real estate owned by
railroads is $685. 000.000.
That is, the 5000 acres not owned by
railroads IS assessed by local assessors
at sS1, 100000, or at the rate of $4,000 an
acre.
The LOO acres of railroad land is as
sessed by State Board at $4,000 600, or at
the rate of $4,000 an acre
Railroad lands therefore, are assessed
for the purposes of taxation at the rate
of $50, 600 an acre; other lands are assessed
by local assessors at the rate of 5000
an acre.
And when you see, as shown on these
maps, that the railroads run across the
city occupying partly low land and partly
high land, with few houses or buildings
OF any kind upon them, you must con-
clude that the railroad lands are a fair
average of all the lands in the city.
Does it admit of argument that if rail-
road lands, substantially without build
lngs upon them, are assessed at the rate
OF sS5,oO0 an acre. and the remainder of
the lands in Jersey City, with all the
buildings erected thereon, consisting of
panksbuildings, manufactures apartment
houses and costly private dwellings, are
only assessed at the rate of $4,000 an acre,
that the assessment of railroad lands
must be upon a theory of higher valua-.
tions?
It is undisputed that there is in Jersey
CITY 10000 acres of land That of this
about l,l00 acres is assessed by the State
Board of Assessors, and that 5000 acres
IN round numbers is assessed by the local
assessors.
It is also certain that all the property
.f6rSRU hIti1z inc Il
property, tangible and Intangible, corpo-
rate and individual, is assessed only $685.
SS9, ,622 or at the rate of $500 an acre.
1t is asserted that the railroad lands
alone are assessed by the State Beard for
the sum of upwards of s39 600, ,000 and that
the number of acres is ], 100; that is at the
rate of $4,000 per acre, or four times as
much as other lands
The tax levy of Jersey City this year is
81 o00 on the 5000 acres of land in Jer-
sey City.
That is. each acre is taxed for all pur-
poses $266 an acre annually
The same result is reached If you take
the assessed valuation OF all property of
every kind and description in Jersey City
except railroad property at sSS, 900.
This valuation would make an average
valuation of $500 for each of the $1,000
acres.
Nine Thousand seven hundred dollars an
acre at the present tax rate of Jersey
City, viz, .0274 makes 1856 per acre, there
y
pay $266 an acre.
Railroads pay annually taxes of over
500 an acre for each acre owned by them
In Jersey City, or three times as much as
other corporations and individuals.
Mr.. Vredenburgh then takes up the spe-
cial case of the Pennsylvania Railroad. He
reviews the property in detail and reaches
these conclusions
Including the Harsimus Cove tract,
there are 179 acres of land in Jersey City,
In addition to the main stem, owned by
the United Company, leased to the Penn
sylvania Railroad Company.
That company on that 179 acres paid
taxes for the past year for State and local
purposes amounting to Sl34,721, or at the
rate of S752 for each acre of land.
That is to say, the Pennsylvania Rail
road Company leases in all 229 6-10 acres
of land in Jersey City. on which it pays
State and local tax amounting to s11, ,498,
or at the rate of about $735 an acre an
nually.
BY the receipts here produced you
will see that the Pennsylvania
Railroad paid on this 2291s acres
so leased by it in Jersey City,
for the use of the State. .......... ss2,6s1
And for the use of Jersey City,. 18s. .s31