The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1904-11-29

ton Of main stem, including franchise,
within her limits, is only 5000.
AS to the third claim-That the lands
of the railroads, and especially the ter
minal lands. have not been increased in
value by the State Board i'll the same
ratio as other property in the city has in
creased, and commensurate with the in
crease in population and business on New
York Harbor.
No good evidence can be procured to
support this claim, and it has no founda-
ton in fact. On the contrary, the rail-
road lands, as a whole. are valued by the'
State Board of Assessors at their full
market value, when compared with actu-
al sales of adjacent lands similarly sit
uated, and in same condition.
1t has already been shown how the
local authorities of Jersey City, in 1885,
and afterward, endeavored to raise the
local standard of valuation to an APP
proach to the State Boards standard.
The attempt has been made to produce
the impression that the city. of its own
volition, has raised its valuation, and that
the increased valuation since 1884, repre-
sents an actual rise in true value Of the
Real Estate. This is true only to an ex-
tent too small to be noticed.
The assessed value in 1884. was at a
ratio very far below actual value. The
increase represents almost entirely the at
tempt tyreach actual value, and has been
forced upon jersey City by the example
of the railroad valuations, and her press
ing necessities to raise more revenue
without raising therate of $50 and losing
the advantage of the Martin act.
In fact. the actual value of property
in the lower city, surrounding the yards
of the Pennsylvania Railroad, has de-
clined, or, at best, remained stationary
since 1884.
The standard of the State Boards val
ue of Terminal lands was, as has been
noted, based on the highest average price
ever paid fors uch lands in the city, and
represents the peak, or eliminating value
at which experience in the past~twenty
years, has demonstrated These lands
could be used for transportation purposes
under the general conditions and limita-
tions governing that business.
In proof of this. some comparisons
have been made. The Harsimus Cove
Yard of me Pennsylvania RdiIroad, ex-
tending from the river, back to Hender-
son street, distance Of 1900 feet, and
with frontage of 1880 feet on the ex-
terror line for solid filling excluding 100
| feet of main stem and containing 81
acres to that line, and is valued for as
sesment with Improvements, at SCI, 600
per acre, or SO, 455, 800.
| We have carved ont on .the man ! seq
ton Of Jersey City entirely assessed To-
callv having nra cticallv +ba same 3d;p,an.
siops fron4age and area - tba uars;.
mus yara Tba+ < ao,,+h of > aoo
feet, frontage on solid filing line i, ,3so
feet, area 81 acres. This section covers
all of the locally assessed water front
south of York Street. and. hack Of tbe
shore extends from the centre of sthe
block between Grand and York streets
to the centre of Essex stree4 and a,nrox.
| innate in shane to the Hars;nus Yard.
| = = 80 -, u;,,
which shows :, ,,,,;,.:, .,.s, :.
- /, .,,o
;no,,,daa
:, ,.,,,sa, ,,4,n;aa y ,,
& ~ 49, ~ -.
ans n,,hpa h,,;,,,.. Il
fnll1 ;n,,,roraa 81, ,.ass
tra varsea nortb ana so,,+h =, xvaa,,;.u
+on stwoa4 -