New-York tribune., 1907-01-15
TAX LIST OUT FOR 1907.
NON-RESIDENTS ON ROLL.
Increased V0Iues 500, 900 900
Sage Estate Assessed for $50, 900, 900

LebutC hooCooCo VI PDNyOON,OOO
The tax list for 1907 was made public yester-
day. It shows that property values have stead
lily increased. particularly in uptown districts.
Downtown the large Office buildings are gener-
ally assessed higher than in any previous year
and the tax assets Of the city will be increased
by the assessments on the property acquired by
the various transit companies. For the first
time non-residents who real estate in New
York City have to contribute their quota,
through the workings Of the bill which was
passed last yeac, known as the SAKE law.
The Russell Sage estate on the assessment
books for 1907 sustains a tentative personal as
sessment OF $4,000, 00o while Mrs. Sage is on
the books for s5,O00.000 Russell Sage last year
paid taxes assessment OF s2.00000o. If
the estate should be held for the entire tentative
assessment, II would pay s750.000 IN taxes, and
Mrs. Sage's net tax bill would be about $4,000
IN addition One OF the possibilities is that now
that the Tax Department has definite data con-
corning the size Of the Sage estate. il may charge
up arrears Of taxes for two years. the statute
giving the tax officials that power. 1t Is not
probable though. that the Sage estate will be
held for personal taxes on s55.000.000.
President Purdy of the Department of Taxes,
4n commenting on the new tax rolls said: THE
gain IN receipts which expect to make under
the SAKE law by assessing non-residents for
personal property actually in this city probably
will Offset what shall lose by the repeal OF
the Mortgage Tax law. The reason for the
Sage assessment being SO large as compared
with last year is that the assessors are able,
after the death of the owner of an estate. to
get possession of more accurate data. The
Sage administrators filed affidavit setting
forth that the estate was above S50Oo0O00 The
estate is assessed at that figure. If the depart
naent has TO change the figures II will do So
The assessors who worked on the Sage assess
ment say that the estate amounts 10 between
SSOOOO.OOO and S9oO00,000.
In the Judgment of the tax officials. the in
crease in real estate valuations for the year IL
about 7n per cent, or s4o5, 100000 in round num-
bers Surprising increases in assessments are
observable in the Herald Square and Columbus
Circle districts. If the expectations OF the tax
officials are realized the increase in real estate
valuations Will increase the debt incurring ca
pacity of the city by about s40,oo0.o0e. This is
less than was hoped for, but is regarded as fair
and reasonable.
Second in interest TO the size of the Sage tax
is the nonresident list of wealthy people living
IN Rhode Island, Connecticut, New Jersey and
elsewhere. who, under the operation Of the new
Sake law have been tentatively placed on the
assessment rolls for large sums.
The SAKE law authorizes the imposition of a
TAX on the personal e1IeclS III lllS CITY VI q
resident living outside the state. Probably the law
was aimed at the recovery Of taxes from con-
siderable number Of wealthy persons who have
houses in New York but hold legal residences In
Newport and elsewhere. Hitherto there has been
a great deal of swearing off by such persons. The
Sake dragnet is expected 70 hold about $2o.00O.-
900 of personal property not otherwise reached
Some OF the more notable New Workers who re-
tain legal residences elsewhere are Mrs. Caro-
line Astor, Of Rhode Island. and William Wal
derf Astor of London, now assessed in $75000o
each; Senator William A. Clark. Of Montana,
100000; the Marcus DAILY heirs 100000; Com
modore Gerry. Newport, $4,000; Robert W.
Goelet 100000. Robert and Harriette W. Goe-
let each s750,000; George Gould, s75o00o; Henry
o. Havemeyer. $780, 600; Sarah A. Hewitt, New
Jersey s250.000; James J. Hill, Minnesota, $780,.
900: Arthur T. Kemp Newport, S260000 ].
Pierpont Morgan, jr- England, s15o,00o Charles
n. Schwab Pennsylvania, 100000; Edward
r. Thomas. Rhode Island 100000; Reginald C.
Vanderbilt, Rhode Island, s1,0ooo00; Frederick
W. Vanderbilt, New Jersey, $4,000.
NON-RESIDENTS.
The non-residents following are among we'll
known people assessed under the aforesaid law: