The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1899-08-01
NO LOWER TAX RATE.
President CLARK Tells Why
1t Will Not Be Any
Less This Year.

Now that the Board of Finance has
completed the tax budget and made
known the amount needed for the ex-
penses of the city government for the
fiscal year beginning December 1, 1899, it
remains for the Board of Tax Commits
sioners to fix the tax rate. 1t was hoped
tliat tho rate would be fixed at less than
SIS. go per 81 900 of ratables. but II does not
now seem likely that this hope will be
realized In fact it will be q hard matter
to keep the tax rate down to s2S60 The
Tax Commissioners will have TO do some
tall figuring and close calculating to do
so. Commissioner James Clarke, presi-
dent Of the Tax Board, was asked this
morning when tle Board will fix the tax
rate.
Probably not until the latter part Of
August or the first Of September he re-
piled.
rs it probable that the rate will be
lower?' he was asked.
Me- was the reply, awe will be lucky
if we can keep it down to the present
rate
Haven't the ratables Increased in value
and rnultiplied during the last year?"
Mercy, no. Property is steadily de-
creasing in value in Jersey City. Proper
ty in lower Jersey City has gone all to
pieces. 1t is a startling fact, but one we
cannot ignore. We must recognize the de-
probation in value of ratables in the low
er section of the city. If we should drop
all properties in the lower city to their
true values ON our assessment books we
would be completely swamped. We are
taking it gradually. All bona fde sales
we are forced to recognize. Where there
is an isolated place sold at low price it
does not signify much, but where there
cognizance of them and correct the values
in the same neighborhood we must take
cognizance of them and eorerct the values
on our assessment books The manner in
which property is decreasing in value is
alarming. The largest decrease in lower
Jersey City in the last year has been on
Newark avenue. from Warren street to
Henderson street. The value of property
on that block alone has decreased be-
tween 100000 and 100000 This decrease
is due to the removal of a number of large
firms and the tumble down condition Of
the buildings You may not be-
lieve it, but property which has
been bought for $4,000 or $4,000. is as
sessed at SIS 900. The property around
the public parks keep up its value
on the assessment books, because there
have been no sales. The two sales that
have been made in recent years, however,
have been at a big sacrifice. To offset
this decrease in the value of lower Jersey
City property we have the Improvements
on the Heights, such as the opening up of
Clifford place, from the Boulevard to
West Side avenue. and the erection of a
fine class Of homes. The.sis improvements
on Clifford place have raised the value of
lots from s1,2O0 to s1,7oo apiece Then
there are the houses which have been
built and which will raise the ratables.
Then there have been extensive i'm
provements Of Boulevard property and
building has been brisk on the West Side.
All these improvements and increased
ratables on the Heights will not much
more than offset the decrease in lower
Jersey City. 1t will offset it, however,
ana there will be little to the good be-
sides. 1t will be impossible to decrease
the tax rate, however, and we must be
satisfied that it will not be raised"