New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-10-21
OPPOSES FULL VALUATION.
UNITED REAL ESTATE OWNERS AssocIA-
TON WANTS IS PER CENT TAX SYS-
TEN RETAINED

TEN RETAINED.
The United Real Estate Owners Association met
at Navor Lows Office yesterday afternoon. and
presented protest against the proposed change
in the method Of assessing property. They in
dorsed the 60 per cent system saying that it gave
only q fair margin for error in valuation They
attributed the present inequalities to incompe-
tency or corruption. and held that these evils
would not he remedied ny any change In the sys-
tenn.
The burden of municipal taxation. the associa-
ton said borne by the real estate owners: per
sona property theoretically taxable was practically
exempt Therefore TO increase the tax on real
property would be 10 intensity injustice. Re
Gently three experts. in appraisng a piece Of prop
erty, valued H. respectively, at $4,000 $1,000 and
100000, II experts. asked the association. were
unable TO agree or the value of piece OF prop
custom of deducting 80 per cent a fair margin
Tor error had acquired almost the force OF law.
The increased borrowing capacity which would
declared. was the peril of the change be-
cause IL would remove a protection against prodi-
recognized but II said that the natural in
crease 81 N3ue resulting from the city's growth
shotid PROVIDE TOT them. Although the tax rate
would ue lowered for few years because OF the
Increased valuation. II would in time creep up to
The quota Of state tax for New-York County
TToTosrd canai Observation-Disclosures 90 So oy TIe
change also would be especially hard the small
property holders, who would not be able to fight
unequal assessments in the courts.
Among those who spoke were William A Mar
tin. chairman of the Harlem Board Of Commerce;
Herman \. Heydt, George y. Ranzer, ex-Sherifr
Tamsen. Charles LutZ. q l.. LOrenZ T.. J. Murray
George z. Christman and y. Appel.
President Wells. OF the Tax Board in reply said
the law the statute books and ne dii not
think that there was any one in the room who
had the temcrlty 20 disobey il. The tax DEPART
ment was merely carrying out the law
Lawson Purdy partially favored the new law
He said the position the real estate had
taken seemed 10 him to be contrary 20 their own
Interests. for he thought II had been established
that they were paying not only their own taxes
but taxes for other people, and they certainly
could not desire this condition to continue. Every
investigations Of assessment conditions IN this
that he had seen had proved that small properties
were As a rule, assessed more heavily than I'M
improved land and expensive residences and COM
respect were hy no means exceptional. for the
same discrimination had been proved in other
cties. The owners OF small properties had always
been Disseminated against. This discrimination
10 variable standard OF their selection in
stead Of q standard established by law.
The Mayor made a long reply 10 the arguments
He said little that was new practically confirming
himself 10 his Weekly Talk" No. S. this sub
Ject- published some time ago. lie said In part:
Probably many Of you fear that your property is
In danger OF injury. hope no one will part with
any real estate until he finds the true situation
When this administration came into power We
found a financial system OF the city that busI-
house could successfully and permanently fol-
low. Take. FOR example the sinking fund. We are
really paving this year $500 O0 for bonds issued
In ISIS. We shall have 10 pay more next year for
sequently grow smaller every year. but the city
grows larger.