The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1902-08-08
TAXATION OUTRAGE
Degnan and Lindsay Sell Out Jer-
sey City to the Townships for
a Mess Of Pottage.

the Board no doubt believes with Mr.
Hoos that these increases will be set
aside, but the Pagan managers care
nothing for that. The taxpayers have in
the meantime been buncoed by low
rate and can then foot the bills for the
increases that may be set aside on ap-
peal.
THE COST.
1t is estimated that the remarkable
policy of the Pagan Commissioners will
cost the people of Jersey City in State
school and county taxes between $30,OO0
and SAC, 1000 more than they would other
wise be obliged to pay. 1t practically
places on the shoulders of the taxpayers
of this city the increases made by the
County Board on the valuations returned
by some of the North Hudson towns
and reduces the rate on State school
and county taxes in all the other muni-
cipalities of the county at the expense
of the Jersey City taxpayer.
DEGNAN'S BLUFF.
When the amended report of Jersey
City's ratables was called for at yester-
days meeting of the County Board, Com
missioner Degnan announced the figures
for the ensuing year as $S7, ,742 $40 realty
and $11 ,S57 ,660 personal, total of
S99. 100000, and an increase of $2,111,-
sos in realty and So, ,S36,615 personal, a
total increase of $5,54S,120 over last
year. Neither Mr.. Degnan nor Mr.. Lind
say offered any explanation or apology
for their remarkable return, but Presi-
dent Hoos said
"The report just submitted by my col
leagues is only an approximated one and
| want to enter formal protest against
it because of that fact The report ap-
parently shows a decided increase over
the figures returned by myself to your
board in June last, but the manner in
which these increases are to be made
is uncertain and it is questionable whe-
ther or not they will stand.
UTTERLY UNWARANTED.
'The action of my colleagues in in
creasing the trust companies is based
ON a decision of the Supreme Court in the
case of the Fidelity Trust Company VS..
The City of Newark, in which it was
claimed that trust companies should be
assessed against the full value of their
stock. This they propose to arrive at
by adding the surplus and undivided
profits to the par value of the stock We
have received no opinion from our cor
poration counsel as to our right to do
this, and l am opposed to including any
thing in the return on which we must
pay a State school and county tax, that
NAV eventually be eliminated on appeal.
Besides, understand the greater part of
the surplus and undivided profits of trust
companies is invested in non-taxable Sc
curities.
THE RAILROAD HOLDINGS.
'sThe increase which it is proposed to
make in realty is based ON the presump-
ton that certain propery now assessed by
the State Board of Assessors should be
assessed locally, and by ignoring the re-
dnctions allowed by the Board of Ap-
peals on certain property in the lower
part of the city. The railroad property
referred to has been assessed as usual by
the State Board of Assessors and is so
reported for the coming year.
| ''It is also proposed to raise the valua-
tions of certain manufacturers above the
figures at which they have stood for
years and which have hitherto been con-
sidered fair and just. ] am in favor OF
getting all the ratables possible, but do
not believe in the city being compelled
! to pay State school and county taxes ON
valuations which it may eventually be
found have no actual existence
President Mclean said that the rail-
road property referred to-that of the
Central Company of New Jersey-had nc
track son it and therefore should be as
sessed locally. Mr.. Hoos was sure that
there was a track on it and pointed out
that for eighteen years it had been as
sessed by the State Board of Assessors.
! This closed the incident and the Board
adjourned unit 4o'clock Aug. II, when
the State school and county tax will %
struck on the basis of Jersey City's
amended figures.
~
.nn.-AsssnrA