Perth Amboy evening news., 1906-08-16
RAILROADS
HAD 1T EASY.
State Board of Assessors Found
TO Have Practically Exempt
Them from Taxation.

NEWARK, Aug. 16.+Probably
the most significant results obtained
by the tax board of this city in its eff
fort to ssess taxable property at
true value we're in the valuations
placed on second class railroad prop
erty and on depots and stations, all
of which we're heretofore assessed
by the state.
The valuations fixed by the local
commissioners on this class of prop
erty located in this city have been far
higher than the figures adopted by
the state board of assessors, and the
results of the present assessment can
leave no doubt either that the state
taxing authorities were very lenient
in their treatment of the taxable
property of the railroads or else the
valuations placed upon the same prop
erty by the city commissioners are
unconsciously excessive.
So far from admitting that they
have ~over-valued property in the fix
ing of assessments, the commission
ers take the stand that their estimate
of what true value" consists of has
been we'll within reasonable bounds.
1t is understood that the judgment of
the members is that, as compared
with the actual marketable value of
the real estate of Newark, the assess
ments that have been returned to the
county board of taxation establishes
the true value" at about so per cent.
of what the properties would bring in
a sale under fair, favorable and nor
NAL conditions.
Central Raised $132, 900.
The commissioners have placed
valuations on the property of the
Central Railroad of New Jersey, out
side the main stem, lying between
Broad street and the intersection of
the Pennsylvania railroad tracks. at
$41S,634. The report for 1906 of
the state board of assessors shows
that all the property of this railroad,
outside of main stem, but not includ-
ing the passenger stations, was as
sessed at $1T4,O33.
The local board assessed the
freight house property in the rear of
Broad street, north of the main stem.
at 100000. The state board valued
the same property at $47.720. The
local assessment on the Fair street
freight yard is $117, 900, as compar-
with a valuation of $56,S7O by the
state board. The local figures for
the value of the freight yard extend
ing from Mulberry to Ward streets,
north of the main stem, is $12S,OO
which is in marked contrast with
three assessments by the state board
last year, covering the same property,
amounting to $27,630.
Pennsylvania and Lackawanna Hit.
The commissioners also found
much more value than the state board
in the property of the Pennsylvania
railroad outside the main stem at the
Market street station. The value
fixed by the state IN its property was
Sos, 525. The state board assessed
it at $4,000 and valued the passen-
ger station at $4,000. The Alling
street property is valued this year at
Sac, 900 against $4,000 by the state
board. There is an increase of about
500, 900 in the valuation of sidings,
towers, etc.
There are marked contrasts be-
tween the valuations of the city and
state boards on the second class prop
orty of the Lackawanna. The Broad
street freight yard is assessed this
year at $4,000. The same prop
erty, of relatively the same, was as
sessed last year by the state board in
several parcels, and the aggregate
was $63,767, an increase in this one
instance of $685. 3 or nearly 400
per cent. The passenger station
this year is valued this year at $685.
900. This was included in the main
stem assessment last year..