The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-07-12
PERSONAL TAX AssrssMns1n

,o- tho current year, a. made MP finally By the
,,scssors and delivered 10 the Board Of Alder
mon. shows tho total amount OF property In tho |
o,,v subject to taxation TO DO %, 1884, 3S, s56 |
I'non this amount tho tax for the year will be at |
,hs rate OF S2.05 per 800. or q tribe over Q par |
cant. The taxable total 10 composed OF o., Ts7,- |
,ss7 9l Of real estate. s1e8, o7p.2 Of person
alty belonging to banks and other corporations, |
and sl95, 100, s29 OF personally belonging to in
divlduals and estates. Thus moro than nino-
,enths OF tho tax will be collected from roal
estate and from incorporated institutions, and
les, than one.tenth from personally belonging
,op-.vnto individuals and estates.
This disparity between the amount Of taxos
collected from personally in the hands Of individ-
unls and their executors, and that collected |
from other forms OF taxable property, IL nothing |
new, nor is it, in this State, peculiar to this city.
For years the assessed personality In this city |
has bcrno about the same proportion to the as
sessed realty that II does this year. and in other |
counties the proportion 10 and has been even
less. In tho agricultural districts, where the
taxable personality consists mainly OF animals
and farm implements and products. tho valua-
ton OF II. for taxation purposes, 10. in many In
stances. as low as z per cent. OF the total OF both
realty and personally. Taking the State as a
whole, md excluding corporations, It u on the
average less than 0 pc. cent
Tho tendency Of courts of law has, OF lato
years. been to reduce the assessment OF person
atty belonging to corporations below what It
lscd to be, and thus 10 increase the proportion
n.t burden OF taxation thrown upon real estate.
Many years ago the Court OF Appeals decided
that the market price OF the shares OF q corpora
ton wrs conclusive evidence of tho taxable
,h. ID. h.;na th.t M nrio. n,;a a..
.h,,. = ~ .,,a,t tos, ~ ~. 4. 49,. wo.,h
W. u.ro rn,.n,i,,., ,,,th h,.ir.s. .,a ala -.
H.s 49, -. .~e.. - -.
80. =. .,,,,a,r a. ,ooh - - a..
Ns.. usnar1, h,Ah A. 49,.
ST. ..mn.n,,, ~, nmt ~ a.. .s..,n. "a
me nm. Ss.s", - .
,n.,s,no =, i, 80. :, .,on h,.,no., 800 o,,.a
~. -, a. 80
" ~ .on rs - HI.
" $3.50 ~. q. ~uI % Inooo u
~ to%,"s ~. y,
~ "H"Ne Np"s $500 y ""t''
ii pfospees 49, eA, "Au u.",
ma NV 70 oooui.u ~ = n' oNpeeN''on
"ouIu oe mshiies'ly assumLnt 'n"' " 70 u Q
'aih'S "n'cn nnog nofer eo"e ~ pass. Asaih'"
stroet reiiroaa eonpany' sucn a. INC Skin avg
nue. f1aiiroao company whose prUpe.'y 10
mainly real es1ase' may nave as tho sth1n AVe-
nuo mas FRANCHISE wnich enaoaes IL 70 earn On
enormous income. ana therefore the STOCK OF the
company may sell TOT many Times the vaiue OF
tho property actually enployea IN its operatioh.
a manufaotaring company, IN ike manner may
DO 30 prontaolo q business upon q sman cap'tal
that It's shares may Dc In demand at many tunes
their par value, but 1t would not Tor mat reason
DO Just TO tax IL In the same proportion.
The corporation Whieh nrst successfully con-
tested the ancient praceoe OF assessing SHARES OF
stock at their market value instead OF the vaiue
OF the assets they represent was the Union trust
Company OF this city. That company, ike the
chemical BANK mas q large anu lucrative ousi-
hess, which enaolos IL 10 earn pron1s har eAceoo-
Ing ordinary interest on It's capital. ana its STOCK
accordingly sells ior much moFe 'nah u oooA
value. Tho assessors' according 70 CUSTOM ZOE
eions time msoe the company pay taxes upon
its earning power as wen a. upon us actuai
property Out at lastils onicots 'pe.ienoo Wv
refused 10 DO thus muiceeo again. 1hes
were sustained oy tne Sour' OK Appeais'
ana tne pr'hc'pie the. o0eo es'apSneu mas
since oeeh seheraig iono"eu IN
with IT, Judge cullen OF inc supreme Court OF
kings county oecioea' last week, tnat INV nrook'
tyn Oity t.anfooo COMPANY was naoieio ."Aea'
not upon inc "arhe' 'aiueo y slooA' Uu1 ohis
upon lls sepe esla.o u upon = a1.e po.
sonAi,y' fon pains 90 upon 49,
iteouio ho' 10 oisonaIs'' ILL
. sh"n o'e.e = ie ueoIs, teo Ih"
u sock. Wv AZ .no no ho.
.n...h... ...,,. a. =. 90, a;r,aona, ,non
o"ooie uIoA
-.
80 I.S ha,d
LII upo -. -. 80 ~ 49, 49,. IT,.
Cownaun ia h. tha nroot,rn citx P.t,road
S~pNs on. -. sa~s ao-as~~-
sonn .t,,u.n la ~ ,his ostv .nS ",..
one III - - !. - =,
49,. ~. - Iii Ne - inot,s a Io,,d.-
49,. - -. .r,tnst a. .rnnos.s rn,us+
o-ann,Ion =, nsr.onsI nronsr+v fro-n t~aIotion
- - 49,. - a.
al. nNN o-.s- $500 - HJ..toha..s.
'1s -. 80 .so~nh 49,
sosaN =, -, 80 t~n.,nh-.,oea ond rhar
- - 80 - 80. =,
81. .hom ~ 49, 10 ~ ,hso.ts
H.Sr..ss :. - 1870.
U"-.S"as-S .. a. -. on,Io. - d.
sno a.. 49, -. -
- 49, - -. ,.sas
buppooOu o"hSA poNooN"ASs AA