The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-10-09
Of one per cent. for the benefit


of the State alone. .,..,
purposes outside of main stem Inis y
known as seeond-class properly, ana IS
taxed not exceeding one per cent, Ior
the benefit of the taxing district IN Wniets
it Us assessed, in addition TO ofle-ndA oA
one per cent. which goes TO une a,.z,t, StsItst
Thfrd-Aai tangible personal pfopePly- :
This is taxed one-haf of one per cent
for State purposes only. .,
TTourth-The franchise and all other
property. The franchise IS taxed on ~
assessed value one-half of one per cent,
as Is the other property, OF Whalever II
NAV consist; stocks and bonds OF olner
companies, most probably. Reai eseste
owned by the railroads put nos & a7en ,,ndes. ler
the operation of this act, and, Oh course
is taxed at fun local rates. !.
Mr.. Dear said that to the lay nina u y
would seem that under the PROVISIONS OF
fhe amendments to the constitution tnaI
ssproDerty shall be assessed unuer genera
laws by uniform rules at lts true value,
municipalities should be entitled TO assess
and collect taxes on the railroad properly
W thin their limits in the same measure
and at the same rates as they do all etaer
property. The Court of Errors and Ap-
peals, however, had decloeu lllal ne as
eIassification which learned meHlper
Of the court pronounced arbitrary anu n
fanciful'' was in accordance with tne
Constitution. and that the Leg. .slalufs e
had NOT transcended its powers when Il
esta blished this arbitrary ana IahclLui
classification with varying rates Tor tne
same kinds of property whlch ~ y nay hau
chosen TO group IN uilefeHl SaaS'A1ie-7
In In showing the effect Of maintaining
these arbitrary classitications nuHner
If figures were given in the report. Ine
total valuation of all real estate N tne
state in the year 1895 was SI9S, ,isS,6J VI
This sum the individual holdings amount
ed to 1862 1888 0SS: the holdings Oh ,ne u.s. asn-
al
ga, ,5S4. The amount of taxes PAID on n real s
estate held by individuals was Ste,zSoVvvV, wv
or /. "a pei centum; the amount pald py lhe
railroads. was 81, ,261 DOB, or o93 per centunl.
| Tndividsals, farmers and manufacturers
whose business has been unusually ue-
nressed during the past three years.
have thus had to pay Tare rat cent 81 n ex
cass of that paid by the weaithiest cor
porations in the. State. - !, :
The amount OF railroad property OF the
| second class in the state is s4lf202l6, as
| computed by the State Board OF Assessors.
rThe taxes paid on this are S40e.ss4 Were
| +his taxed at the same local rates as paid
by indv dual real estate M owners, 5he sum sum
| ~ the roads paid local rates Ssf.Sa034'
more of ratables would be available 70
| Tighten the present burdens that are 80
crushing to private Tesa estate oMsIs1s. n,.
| the amount of S1e96,291, which is the
amount the railroads escape and winch
has to be borne by individuals.
| Mr. Dear said that the present system
not only defrauds the municipal ties now
| hut threatens them with worse 10 come
He strongly advocated imposing create
share Of the tax burden on the railroads.
Mr.. Baker said that he was unable
| make a full report on the subject of OK
| emDfsons. as he found that It was verS
/ hrAad one 10 handle. From his invest
gafsrns he fh0usDt there were a nurlbf
| of thlrgs that yht be rensd ed. Amor
thasf Svsre aNsntssE ire c5nNpa aies som