New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-07
THE STATE T1X ROLLS.
IN Increase Of S1,5988O0,187 in is
sessed plantations.

Afhar, March e-Tre absence Of any funda-
mental economic or Just principle Of taxation N
this and other States far as personal properly
is concerned is tho subject OF comment In the an
1lfIsl renort Of the State Tax Commissioners, made
public tonight. The commissioners report that
the exemption 81 savings bank deposits had an
agnreciahle effect upon the total personal assess
meut of the State. and during the first year OF
operation Of the bank and trust company fiat rate
personal property assessments throughout the
state decreased nearly ti00goGo0. But they say
the loss has been more than regained. anu theIo
appears the large increase OF $l105iLL attrlouta-
bic chiefly TO the remarkable gain In Ne"-lo'N
CITY
Taxes upon this amount are received by the
localities. together with a tax Of per cent upon
the capital stock Of banks aggregatng more thah
$4,000 and 10 the State direct from trust COM
panles and savings banks is paid $2A7,25+ Esu-
mating this increase In personal property assess
ment at the local tax rate. and the tax upon the
hank stock. there appears aggregate OF nearly
100000 received by the local treasures for local
purposes and S.il7254 by the State direct IN excess
Of personal property assessment prior 10 the enact
ment Of these measures affecting financial institu-
lions.
The personal property assessment for local pur-
poses FOR the entire State the year prior to the
change Of method OF assessing banks and trust
companies. 1860. S573I5703. The same assess
ment for 1893 was S672l49CJ4. showing loss IN as
sessment % S5f564e. a tax OF between $1,000 ana
$4,000. The aggregate Of bank stock assessed IN
1872 in the entire State S254,6-ls on Willcn Il
OF S-sf5.l5l - paid into local treasure
Trust companies prior 10 The law or III 30
very Ettle personal property tax. Huet tue P511-
cut law during the year 1902 these lailCI com
paid into the state treasury S.bsoo-s 20 ana Inc
savings banks Sls-.--5 o. The report 50 3 IN
reduction of The local tax rate in New YORK Clty
creased FL that city, shouid Dc an IN
ctutile To- local assessors throughout ms common
wealth 20 renewed diligence and IdlthluI eH0r' IN
obtaining placing and retaining upon tht Tolls an
property within their jurisdiction not tNtIupt, 70
the eud that the burdens Of taxation may De more
equally distributed ---.-- - vi,
together With thar OF the ether COuntles OF the
Stst. will make a total assessment OF real ana
personal urousrtv 1913 OF S55A 'Ial-5 Inc toJaI
assessed value OF the property N this state IA 1875
as revealed by the local assessment rolls and COM
usr.d with the showing OF le-, follows -
Real property 1913. S6'is5t*.o,. I*- S7-'i oaoo5,
increase. S1.s5l.I+6cs6- - $500 49,, 5000, ,-.
Personal property. ISIS N,4t-sloy 49, $''-'-ts051'
increase. Sl4l.NaiIlL-
Total increase IN the ,SsneEt OF the wealth OF
tho state ia -he last year. N.5s>.>.'lSl.
Attention is particularly called to the increase IN
exempt real estate which has reached the sum OF
s. rr- s-l af4 nearly - per cent OF the state
total OF real estate assessed This IS an increase
Of S-f-l3z.4 over The previous year. and since 1870
t.e increase D. S-s+6f15-6. nearly 81 per cent IN
three wears while the Increase IN TIE assessment
"a real estate Tor she correspondents period ls only
Der cent This large Increase OF exemptions ap-
rstrs fr property belonging 70 cities ana religious
and chara BILE institutions. and Is undoubtedly due
prIncipsIIy the advance made IL the assessment
OF realty In New-York City.