The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-01-12

up value AND Tax Ssncn property
gfhich win be referred 10 in i suisse
afef1t part of this Report it may not
he anaiss to call attention To the fact that
ae1sg !, propsrfy & wna ! ~ lad y
CLASSES First satasls&9UIe IA Visihiss Ind
second. sntangitfe invisible. Both
s slss y;a5 sA aEs n saxssas ~ , shs local a., KIN
property in the taxing sdistricts where
FUND: invisible oF Intangible personal
owner or holder resides as Of the day pre-
seriped w law TOR commencing the as
fsessment9 for each year: which includes
the share of Stock. bonds and other evs-
lence5 Of debt in the hands OF inhaoi-
lanrs OF the State issued by the mlsceI-
fsneous corporations. The share OF
stock, bonds ana certificates Of indebted-
Eess Of the railroad and canal companies,
are exempt from taxation in the hands
of the shareholders, bondholders and
ered l,p Under the Act Of 1851 Tae
First-A license fee or franchise tax to
the State, which in 1895 was assessed by
the state Board of Assessors, amounting
TO $1,09z. 7&t.5 SO.
second-A local tax to the local kin
districts at the local rates. upon a vaiu-
afscn assessed by the local assessors upon
their real estate, n visible personal
property found in such local taxing dis
trlcts. and
Third-A local tax to the local axing
districts at the local rates upon a valua-
- ~~@ ~ liz oo1C-1Ol9 oROaA
the shares of stock. bonds and other evil
uerees OF debt, in the hands of the own
ers n the, taxing. districts where such
owners reside, If inhabitants Of the State.
The State Board of Assessors for the year
1898 returned a valuation against the
raiiroad ana canal companies of 220,7o5,-
property. IN which the railroads and ean-
ais paid a total tax, State and local, of
L5l4.4ll.l2 the same Board for the same
Year returned an assessment for the use
CT the State as a EliPnnSPa fee mr. fra nchiEa
tax, against the miscellaneous corpora
tons, $1,0s2. 744; the local assessors for
1,alua ton of s7se, sos, 90, OF which s149.-
57Q,05S was personal property, and $780,
64.o64 OF exempt property.
the Commission that which the most SUI
I'erficial observed of the assessment of
taxes in New jersey knows to be a fact
coed in listing. all the taxable personal
property in New Jersey-either by de-
slgn or by a careless performance of their
papllc duty. This was made the subject
the Legislature of this State in 1880, and
again in 1891. And it has been the sub
lecl or reports by special commissions
ga States for the past fifteen years, and
70 the Congress of the United States in
respect to the District Of Columbia. The
CurrenI literature, essays, books and
can be counted by the dozen
dealing with this subject. The fact is,
i ihhaat the system Of taxation for raising
Is attempted to be taxed and VALUED at
oHe UNIFORM rate, except certain classes
q property declared exempt from taxa
l5ut. nevertheless. the principle is SO
qeep rooted in the system of taxation in
New Jersey for raising the local rev.
enues, that the public sentiment of the
state would not sanction a change at this
time. The evil can be cured in a great
measure by a vigorous enforcement of the.
I4 haE Ctn+n AT 600 ~
who Wilfully refuse to obey the law in
this respect should be removed by
some State tribunal which cannot be con-
tlFrolied by local sentiment. A compre-
llensfve survey Of the tax statistics in the
United States will show that New Jersey
does not stand alone in this particular:
1T Will also snow that there is no fixed
or approximate ratio between personal
latiOn.
se IhlJ be i ) 50 in its it, application to New Jer;
l rha property from taxation. as under
Inc Acl Of 1866. Hsev. p. Isl, Sec. 5, it is
provided that the following persons and
-sfne bonds and other securities of the
united states, and the bonds and securi-
sies OF this State: stocks and
Pc ms State, situate and being out Of
Ehls State, upon which taxes Shall have
peen actually assessed and paid within
snr1bed m ne ! IS next before the day pre-
s;essment; . the own az ~
fund Of any, religious. society, college
h hbrary; seminary fge Of std learn NJ GO or public
alton of this State. which by chara cpsr
Pr other contract with this State. IS
s: :npgsssly Il exempted from taxation, the
STATE, the capital whereof Il IS
/ y,ss,,s ms ss act taxable TO and
35f all charitable irstptu1tons and assee;as
mons collected and held exclusively for the
SICK or disabled member THEREOF. or for
lne WIDOWS of deceased members, or for
uise enucau.on, support and maintenance
ct the children of deceased mermbers.o By
ufe act OF 1893, Chapter CCLxxII.. bonds.
securities. improvements certificates and
Suher evidences of Indebtedness issued, bv
tm Soa5e on .uhe counties, or by a city,
or other municipality, shall be exempt
from taxation; so under the act of 1884.
+. L. 1884, pages142, the shares of stock
PONDS and certificates of indebtedness of
raliroad and canal companies in the hands
81 me shareholders, ~bondholders or cred
ptOrS are exempt; SO the $500 exennfion
allowed ffremen, militiamen, members Of
tne savage corps, soldiers, sailors and
their widows is allowed largely from neq-
sonaa property. The value of this prope9qv
50 exempt as returned by the local asses
s0rS for the year 1895 amounted to S9.0S4-
20. Mortgages w91nin the operation of
the five county ACT are assessed 10 fhe
owner OF the and without deduction.
much of the visible personal property in
the possession of THE manufacturers is
under the decisions of the Supreme Court
OF THE United States, exempt as Interstate
commerce; the large amount of the stocks.
bonds, &c, issued by the miscellaneous
corporations which have their legal sltus
or nome in New Jersey are held by non
Residents of the State, and much of ii has
no value except the paper on which it is
printed; and SO the list might be still fur
ther extended.
The application to be made from this
is, that ait first view There seems to be am
enormous amount of personal prol]srfv
not listed, and tina the taxable personal
property should bear a higher ratio to
the real estate, but when the law is con-
Efdered and an investigation is made it
IS found not to exist to so great an ex-
tent as would first appear. This, however.
is no excuse for assessors failing to Est
all axaole personal property. The as
SCISSORS should be compelled ito do their
duty by the State, and the public senai-
meit should encourage, support and re-
Qufre them to list all taxable personal pro-
perty, so that all classes of taxable pro-
perty should bear equally the nm
burdens of the public expense.
Ut has been urged before the Commission
Oppressive is found in the fact that so
large an amount of property is exempt by
law from taxation; the amount so exempt
as returned by the local assessors for fghe
year 1895 was $50, 1854, 564; this. is unaues-
8tionably so to a limited extent. and the
policy of the State should undoubtedly be.
in the future. toward a curtailanent rather
perty.
1t was also urged before the Commission
that in comparing the amount of taxes.
which the railroads and canals do pay, i'm