New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-11-18
CIRCUIT on CITY FINANCES.
HE ADVOCATES NEW METHOD OF TAX
COLLECTION AND DEFENDS THE
ASSESSMENT PROPOSAL.

Controller Edward NJ. Grout delivered long
address 1.-The Finances OF New-YoTk City he
fore the Manufacturers Association in Brooklyn
last evening. In which he proposed amendments
70 the charter regarding the collection OF taxes
the issuing Of bonds the sinking fund and The
levy!ng of assessments for local Improvements. He
first spoke OF the importance OF the office of Con-
troer OF New-York. and praised the condition in
which he found the office, and then said in part:
! have sought to indicate the greatness OF the
Office By speaking Of the aggregate of It's receipts
and disbursements exceeding s5ooC0o0N a year;
expensive receipts and disbursements witch under
anY II Is OF rans gGs 10 on s the
first Of each January. the beginning OF its fiscal
richest OF American cities. starts without dollar
with which TO pay the smallest expense. and 50
continues. except It relieves it's necessities and
meets its obligations by borrowing. until. on the
first Monday OF october, the years income by
taxation falls due. 1t is situation which costs
es to- sv nothing of incidental EXPENSES sp and the
worry Of Its financial officers and which compels
positor at the banks. 10 accept per cent on its
deposits where 1t otherwise might get or 3h per
shall meet and avoid objections by a bill IL the
dae the @ Monday Of S ctSr heh taxe b
come a lien, and the date December l. when the
but which viii provide that taxes shall be hxed and
cent from the date Of payment to December !, on
and after January l. This rate Is from one half per
Ieyenue bonds but sufficient. ! believe to attract
hundred thousand dollars of interest, while the
condition OF the delayed taxpayer will be no whit
for the apportonment Of the years taxes between
ana seller OF t eS the same as
vision greatly for the beneht OF real estate Minor
distribGte the payment o. taxes instead Of having
them concentrated. as now. in a single month.
HE DISCUSSES ASSESSMENTS.
Controller Grout then spoke OF the new sinking
fund plan suggested by Deputy Ctntroiler Steven
son. and continued:
or taxation generally there are two uroposItIors
. t@"a j. n'es''"r' and it should be distributed
II own a $1,000 house. and am assessed at 5000
or 50 per cent ~ value. and else I'm the
city having a Si0Oa house Is assessed al saOoo or
a. SS Of 9 Es T SSe no p ps t and
half the amount that nay, and II viii make little
eliminated against or 10 the one so favored what
the other factors in taxation whether muni-
cipal expenses and municipal revenues large
or small The grinding injustice. the fayoritiSm
potent lsctor. Yet this Is but moderate state
me c 81 n Sn2 T d6av sorb tS
charter that there shall he equality in assess
value can he as reasonably determined a per
The percentage one must first determine the hun
dred ~ which sixty seventy is TO be taken. And
enSd a en-" Taue e be- the rHe
sh9Mne inc true value, Nhtn"ut tne nsceSsiS OF
tedious expensive f9Tps bS 10 sh9w t9 t one
The Tax Commissioners and their deputies would
be subject Indictment by the grand Jury IL they
should Intentionally fail TO property what
they deem to be its fair market value. and instead
should IL at 60 20 per cent, or any other
per cent. I am convinced that act Of the city
government for years past Is capable of
plete defence before the voters and taxpayers Of
New-NOrk City as this act or insisting that the
long settled law Of the State and city in favor OF
assessment at actual value shall hereafter be
scentiously enforced II is said that this Is Just
~ unpopular" ] answer that It Is right: Il is the
law. II is necessary. II will produce equality and
Justice in taxation. and il will the necessities
OF the city by charging it's credit and permitting
the improvements. without which the city con-
tinue neither its growth nor its prosperity.
I'm the laws regulating assessments for benefit
for local improvements there is also need OF
change, aud ! purpose asking such change Of tho
legislature. | would suggest that such assess
ments he laid before the Improvement is made
and be payable IN Ave annual instaments the work
not 10 he contracted for executed until two
1fths az the cost has been paid In