New-York tribune., 1903-02-11
TAX BILLS AGREED ON.
MORTGAGE Rate .R-4ISED
OdeK and Republican Leaders Com
pLete Plans for Legislation.
IBr TELEGRAPH I'd rsE TnlBuNE.I

EBY TErHeRAPH I'd TEE tribune
Albany Feb. 10.-Plans were adopted at a
conference held this afternoon in the Executive
Chamber. which was attended by Governor odell
and many Of the leading Republicans in the
legislature to obtain Sc 100000 by indirect taxa
iion There is need now Of securing between
S35aa(sa0 and S6oa0oeo for the States use
20 prevent the relnposition of direct State taxa
tion to the amount possibly of Soeeo'ooo'
Those in attendance at the conference sketcheu
Out q conveyance tax hill by which If is hopea
10 obtain S12ooooo. a mortgage tax hiii pS
which 1t is estimated S5ooooe0 can be Obtained
and transfer tax act by which it is tnoughl
Ss,oo0o0 viii be obtained. all for the state
Treasury.
Governor azelI presided oveg the conference
which was attended also by Speaker Nixon OF
the Assembly: Senator Raines, President pro
tenipore of the Senate; Senator George r. NAL
by chairman Of the Senate Finance Committee:
Senators Green. Sherwood. Lewis, Aids, Gates
and l. LHommedieu, Republican members OF the
Senate Committee on Taxation and Retrench-
lnent. and the following members of the Assem-
hiy Committee on Taxation and Retrenchlnehl-
Afr Dickinson of Cortland County: Mr.. Coon, of
Albany: MI. Allen. of BToome; Mr.. McNalr, OF
wyoming: Mr Pearsan, of Chenango; Mr.
Finch. of Nev,-York: AIr Hughes of Washing
Ton Mr.. Hooker. of Genesee, and Mr. Wililalns'
Of onondaga County.
There was "A discussion of the Notarial Tax
bill, which is before the legislature; OF
the Mortgage Tax bill. which is understood TO
he ne2rly completed and of other taxation
measures The fact was made evident that
there was decided opposition TO the Notarial
Tax bill. ard the decision finally reached
10 abandon that part of the bill which pro-
rfded fer tax on certificates issued by
notary public. Il was said this feature of the
In vjT1e- to
litigants The No1arial Tax bill was cut down
10 a mere tax on conVeyances Of land, tene-
fnents other realty situated within this
State The bill framed before the confer
ence met, said there should be levied on June
], 1908. upon each conveyance which shall
be executed after such date, Of lands. tene-
r1ents or other realty situated within this
State a tax Of ten cents for each one hundred
dollars OF any remaining major faction thereof
of the consideration value of the same
II is not known whether not the amount
Of this tax has been changed, but it can be
stated that it is expected that the bill as now
framed viii yield the State S1.2o0,o0G.
Those At the conference also decided that 1t
would be well 10 increase the tax mortgages
from four mills. stated in the bill to be in
1rcdUced. 10 five mills, and to provide also that
rhe States share of the amount produced by the
tax should be one-hElf instead of one-third. 1t
R'5S eSIlTTa1ed tflaJ nNe mills on
would put in the treasures of the localities col
iectfng IT, If the law so framed, s., 600.
and in the State Treasury S5,0o0,o00- Governor
odell in his recent annual message to the legis-
lstUre recommended that the rate Of taxation
upon mortgages should not exceed four mills
annually and suggested that tWo-thirds of the
amount collected by the imposition of the tax
should go into local treasures and one-third Of
II TO the State
Republican leaders hope. by raising the tax
upon mortgages TO five mills and having the
State take one-half Of the amount produced by
The tax. TO put IN the State Treasury S5,000,000
instead Of $3.50 600, an increase Of S2.350, 900
ever the four mills plan. The LOCALITIES. it is ap
parent. would lose only $350000 by the pro-
vision that they shall take only one-half of the
amount collected. since the tax is raised by one
mil. They were TO receive S3[350,uO0. They
VIII receive. it Is estimated. So 100000
Another bill sketched out and adopted by the
ccnferrees changes the inheritance tax law Of
the Stale in an important respect. The law is
usually known the transfer tax. 1t now
limits the taxation of the heirs of the owner. Of
real estate 10 the collateral heirs They are
taxed / per cent. The bill proposed taxes the
direct heirs CT real estate worth $1,000
peT cent. Il is esuinated that this tax would
place in the State Treasury S500000 annually.
II is believed that the plan Will be followed by
the Republican leaders of first pushing in the
legislature the bill taxing conveyarces of real
estate, and when that is well on its way through
the Senate or the Assembly to introduce in
10th branches Of the legislature and advance
bill.