New-York tribune., 1902-08-28
OPPOSITION EXPECTED.


plan.
OPPOSITION EXPECTED.
Some Of the big realty leaders who were asked
for their opinions on the proposed change said
that the change was likely TO be strongly op-
posed. They admitted that assessing property
at its full valuation was. beyond question.
right, but added that It would be injustice
20 nroperty owners to take such a radical step
without first preparing the way for the change.
The tax commissioners. they asserted. should
have the power and the means 10 obtain the
services IN this gigantic work OF the prlnclpal
real estate experts Of various parts OF the CITY
The work OF altering the assessment values
should be passed upon by boards of experts
These experts they would have succeed the
present assessors. They thought the majority
Of the present assessors were excellent Judges
of real estate properties but the others were
a heavy burden for the real estate men to bear
Among the real estate men who placed them
selves on record Yesterday being in favor or
the change were John NJ. Golding and Samuel
C,oldsficker Mt. Golding the broker who
negotiated the sale of the Plaza Hotel He also
bought for the New York Central. for the pur-
pose of improving the traffic facilities at the
Grand Central Station, number of blocks some
months ago Samuel Goldsticker was the bro
ter in the sale of the old Progress Club prop
erty 10 James B. Haggin. Mr.. Golding said 10
q Tribune reporter:
WOULD COMPEL IMPROVEMENTS.
Answering your question whether favor taxing
is only one reason why would lean 10 tins course;
and that is it would have @ a[5e1 af 1ropePy who
have been for years an obstacle in the advance
proved some OF the most valuable and desirable
vacant corners and plots in New-fork-it wonla
sell their properties TO others who would ne
only too siad 10 take fd PeopIe faar
with real estate will appreciate the locatles that
feel that real estete should not carry the whole
burden Of the expenses Of & the Gf T. naed 6m1 ali Tio ~
pay their share and some system Of taxation ton
possessing more than the stipulated Of 5000
5000. should be compelled to pay their proper
lion of the taxation.
Mr.. GoIdsticker said:
To carry out the new order on assessments will
done. 1t is not everybody who can say what are
things. An expert, in my opinion, is who has
had at least five years experience in the buying.
body is treated alike under the new order of
tax biils. The choice parcels OF this city are at
present assessed almost their full value but there
30 per cent Of their value. The change will bring
about an equalization and il will result in lower
z. L. slocum. Of No. Ils Kirk Block. syracuse,
sailed upon me yesterday He teld me I that SYRIA
dsd not learn from him whether not the plan
there was looked upon with favor.
I think fre tax rate of this city could be n
sioerably lowered by the city charging a higher
rental for some OF its dock rights.
Frank r. Houghton. OF No. Ill Broadway. one
Of the most active members of the Real Estate
Board Of Brokers, said he favored the proposed
change. TO a certain extent He continued:
I do not think the Board of Tax Commis-
sioners would have decided to assess property
at its fun value without first having given the
subject much study / in favor of the
change II the assessors are conservative in their
ideas as TO what are true values This subject
suggests the query, Why was not such a change
made long before this time IL il is good thing
now to comply with the letter OF the law? The
poor real estate market has had so many joltS
that ii must be handled carefully l think you
viii find many persons who will look with dis
favor upon the change.
w. E. Finn was his Office, No. 10
Broadway. He bought some time ago the Old
London Street property in Broadway and the
Colonnade Hotel, and he is improving the prop
erty on big scale. He said: Its the same
old story. Soon have q margin OF debt
we every effort 10 wipe out that margin.
The ctty's debt limit is based the assessed
valuation OF its real estate If the assessed
valuation is increased, il can borrow much
more than IL does now. The change would
ate a greater limit OF extravaganza"
David Stewart and John II. Deane, who have
represented Charles T. Barney in many i'm
portant transactions, oppose the proposed
change