The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1901-03-21
THE TAX Bill.


Some Reasons why 1t is Insufficient.
To the Editor of the Journal and Courier:
In Mr.. Rowe's last letter, speaking
about under-assessments, he says: IF
Mr.. Wallace will devise bill to correct
that end Of the difficulty as logically
certainly and simply as our bill will
correct the overassessments, let him
submit it," Mr.. Rowes bill leaves the
large tax question untouched, covers
only little end of 1.-THE board of re-
lief end and now he acknowledges that
it covers only one half, or the over-as
sessment half of that end. 1t is easy
to show that it does not cover the half
Of that end even, as l have repeatedly
pointed out before. A piece of property
worth $1S0,000, and assessed at 100000,
would be owe. assessed $50, 900, and the
| tax on the over assessment would be
! S420. The Rowe bill reads: ANY tax
payer may offer to accept not exceeding
eighty per cent of the assessment"
Under this bill, then, to get relief the
owner would be obliged to offer to sell
his property at $160 o00i that Is, to sac
rifice $50 900 on it % go without relief
in the matter of a twenty thousand
! over assessment. How certainly and
simply" would men in this situation
get relief. Mr. Rowe in one of his let
ters says: "The operation of the law
will establish standards of value in the
neighborhood General Bradley says:
The fair market value of property in
that vicinity viii be coneusively estab-
lished." Henry G. Newton says: THE
remedy obtained by one sufferer will
benefit those who have real estate in
the same location"
Under assessment was the evil that
gave rise to the whole trouble, and now
a permanent measure, claimed to be for
relief of the situation, is proposed, the
sole and only object of which is to drop
assessments. Here are a few of the
ways the bill would carry out its only
purpose: A man owns 200 feet 'front.'
age on which there is a high tenement
of brick and mortar in state of decay.
Land is worth 500 per foot in
that neighborhood, but the tenement,
from change of character of the vicini-
ty, is out of place and out of date. |
Along come the assessors and assess
the land at $4,000, and the tenement at |
500, 600 making a total Of $4,000 The |
owner knows that the land is worth its |
assessment, but also that the building
is a white elephant, worth nothing, and |
that its removal will cost him $1,000 He
therefore takes action under the Rowe
bill and offers the property for $4,000,
with no takers. The assessment would
then have to be reduced to $4,000. If
no 1
worth nothing. which it could not be
without inextricable confusion from
like claims all over the city, and If the
whole $4,000 be considered as the value
of the land alone, it would fix a stand
ard of value for that neghborhood at
$3.50 per foot for land. But by the sup
position started with, land there is
worth 5000 per foot so that, in this case,
The Rowe bill would reduce the assess
nents in that part of the city below the
'eal value and produce again the under
assessment evil
Take another case, an instance of
which is known to the writer: A owns I
l. piece of property assessed at $4,000, !
which to him, on account of relative f
business incompetency, is worth only a
;16, 000 He therefore takes advantage I
# the Rowe bill and asks a reduction.
Shrewd business man, who fully ap- o
)reCiates the value of the location and 6
is possibilities and who knows that a
he offer must be $4,000 or under, buys o
t in for SIG, 900, and under his manage il
nent the property jumps up to its real p
'alue arising from it's location, that is p
o $4,000 But the transaction under $
no ctr | 4
hat property and the neighborhood at V
10000, that is at just 80 per cent. under g
is real value, and property in that vi a
Unity will thereupon be under assessed
" one-half. Here again is a tax dodg- a
1g scheme which the writer gives free V
0 those to whom 1t may concern. A u
WINS a piece of property which the e
rave assessors have put at 100000. A T
oes to =, his friend, his friend whom n
e can trust and says: MY property ir
lat for twenty years has been assessed a,
t $12 600, the blankety blank assessors m
ave put up to $4,000. That is just II
hat it is worth. but [ can't afford to p,
ay such taxes any more than for the w
venty years past Now" he says, "I IL
m going to take action under the Rowe u,
i'll and offer to sell at So, 900. You put We
a sealed offer to buy at $4,000, and, of
there are other bids, you must buy of
the property and convey it back to sc
e; but, if there are no other bids, then ne
1u refuse to complete the transaction, sr
'rfeit your $95 check one half of or
hch by the Rowe bill will be paid to flo
e, and the assessors will have there in
pom to drop my assessment back to w