New-York tribune., 1903-04-07
ODELL URGES ACTION.
MORTGAGE TAX ABUSES.
LEGISLATURE asked to DeUise Some
Suitable Plan:
LEY TELrGRAPH TO TIE TRIRUxE.l

Albany. April 6.-Governor Odel sent not
able message to the legislature tonight re-
garding the taxation OF mortgages. Its open
ing sentence: THE necessity for more equt-
table system of taxing mortgages, or for their
total exemption from taxation is perhaps more
apparent to-day than ever before In the history
of the State" instantly attracted the attention
OF the Senators and Assemblymen. and they in
tentIy listened to the reading of the document.
It can reasonably be suspected that the Gov
ernor took all his spare time between the ad-
journment of the legislature last Friday and its
meeting again tonight in the preparation of
the MESA ge. In effect the message is an appeal
to the legislature not to adjourn without passing
some act amending the Mortgage Tax law. He
declares that there be doubt that mort
ages are now unjustly taxed in some locali-
ties and permitted to escape taxation in others.
He reviews his own recommendations to the
legislatures of 1901 1902 and 1903 concerning
mortgage taxation, and says frankly that he
considers his recommendation of the present
year. that tax of four mills be imposed on
mortgages. as the least meritorious OF the three
mortgage tax propositions he has made. although
this proposition was adopted by a majority of
the Republican Senators and Assemblymen in
caucus Yet, from the recent action OF the
Republicans OF the Assembly, it would seem
that this proposed legislation again to be
q,
bic and unjust discrimination was TO be con-
tinued during the next year"
The Republican leaders in the Senate and AS
sembly, when asked late this evening If any
measure had yet been drawn TO carry out the
Governors recommendation in his message that
some action be taken to correct evils in the
present system. said they were not aware that
any such measure in existence. The Sena-
tors were still considering the bill which was
rejected by the Assemblymen last week. while
the AssembIymen were debating the merits of
a real estate conveyance tax measure. which
was submitted 10 them last week. which 1t was
said would place 81 10000 in the State Treas
ury It was clear that the Governors message
was a surprise, and that few Of the Repub-
ncan leaders in the Legislature knew that he
had any intention of sending in such mes
sage ANY measure which may be framed 10
carry out the Governors suggestions In his
message will probably. therefore not be made
public before tomorrow.
The Republican Assemblymen were to have
held a caucus tonight upon the proposed real
estate conveyance tax bill, but while the caucus
was held it was only nominal one After
moments session an adjournment was moved
and the motion adopted
No day was set for another caucus on
taxation measure The Republican Senators de-
cided last week to hold caucus upon the bills
tomorrow To-day may bring forward some
new mortgage tax bill. perhaps tax on mort
cages when they are recorded.
The Governors message follows:
State of New-York. Executive Chamber.
Albany April 5, 1893
To the Legislature:
The aeeessy I9r 9or 4fe fber total exemption from
taxation. is perhaps more apparent to-day than
sion which has followed the introduction Of the
measure which proposes TO lay tribute Of four
! I'M
rot produce the results desired. should at least
fe1G1af 5 Statute When will correct existing in
equalties and give the color OF law ana autnoTlty
only secured through open evasion OF the law or
failure Of the assessors TO perform tne duties Tor
Whether mortgages SHOULD be taxed or not is is an
view Of those who borrow or OF those who lend
That d 1deT Tnritted 10 escape entirely in others is
a conclusion beyond the peradventure Of doubt
Mortgages are the representatives Of tangible prop
erty and If tangible property were assessed at its
certain extent their taxation would be double taxa
ion' fes1 estate IS or may be in given locality such
additional value beyond the valuation OF Ike IN
alton and an inequitable system, which must neces
aIsrse however Of this proposition Is equally
rue-that if the total assessed valuation on given
locality should be increased by including mort
Cages subject TO taxation he who does not borrow
! borrower himself, through lower tax rate
PREVIOUS PROPOSED LEGISLATION.
| etpdv Of this situation led me in my first an
- neesara under date Of January l. 1901 70 sug-
80 the exemption of all mortgages from taxation
T-I1a iisr1JssioT which followed in the legsla
/ lad however the uncovering Of facts which
! made the enactment OF that Recommendation into
~ matter of doubt, because in certain
i"caIities the burden upon both incumbered and
1 real would have been in
c-nasad In my second annual message. recos-
| ~t-t-g the force OF this objection. and with the
-a 5asfra 10 relieve those who thus ur-
9I1sIIv taxed suggested recording tax applying
2I- N future mortgages. and In return for this
uuarc-5ing tax an exemption from all other forms
! - ,ayatfon This opposed ~ those who not
- - Saw that IL would lead a essening Of the
esssss-nent rolls but also an identical burden upon
/ building operations IN the greater cities These
ti"-,iora xer. not overcome by a suggestion 70
tyr oyer 10 the localities the full amount OF the
- &c It uas alleged that In certain few OF the
oaH,rttas ~ the State this revenue would not
! 10 nual 10 that which they forego under the pres
Continued on fourth page.