The evening world., 1908-01-25
SUBWAYS ADD
20ob TO LAND
VALUES IN YEAR
Tax Books Show Increase of
S35O,Ooo,o 900 in Home
Suburbs.
QUEENS HAS BIG LEAD.
Largest Profits Are Growing
in Far Outlying New
Transit Zones.
QUEENS HAS BIG LEAD.
Tax assessors have added an average

Tax assessors have added an average
OF 20 per cent. to the value OF New
York's suburban land on their 1908 lists.
Their figures show that landowners in
the suburbs are $4,000 600 richer than
at the start of 1907. The increase in
value has been steady in spite of panic
prices in other investment markets.
The new tax rolls give Brooklyn real
estate an increase of slA, 100000 in value:
Queens, $4,000 D; the Bronx, $500 600:
Richmond. sl2. eO,coO And the New Jcr-
sey suburbs show an advance of $50, OO0,-
0D; those in Westminster. Nassau and
Suffolk. 81, co., C0.
In percentage, the gains have been:
Queens. "a; New Jersey. %; Richmond,
%: the Westchester. Nassau and Suffolk
suburbs, ID; Brooklyn. Il; the Bronx, II.
These figures show that the big gains
have been scored in far outlying dis
tricts. where farm ands and waste or
ina cessible tracts are soon 10 he placed
within the zone Of rapid transit con-
nection with the metropolis. II veriies
reports published frequently in The
Evening World that the largest percent
age of profits is being paid by and in
the new outside home sections.
New Millions for Owners.
Real estate operators say that the
tax assessors appralsals are very con
sentative. The lhct tAat the cIty OIL
GERS recognize the steady Increase In
suburban land values. gives a strong
foundation TO the market.
In fixing prices tor the new TAX rolls,
the ASSESSORS have tried to calculate
erty. They are not authorized TO con.
slider speculative value. They must
base their figures on solid investment
been forced to estimate the value of
suburban proprties at one-half to three
quarters of the real market prices be
portant consideration just now all over
the new rapid transit zone.
LanI prices are uIscounting new sub
ways, more bridges, a great expansion
OF capital for Improvement. Instead OF
a S3J9, 600, oo0 total Increase in values for
the year, the tax rolls would show an
10, 10000, II there We're not one other
important factor to be considered. THIS
Is the amount of money which has been
spent during the past year in building
and improvement operations.
Big Gains in Home Zones.
As has been reported in The Evening
World, nearly $3.50, 00O,O 600 vas spent by
suburban builders during the year.
TIE outlay Is recognized on the new
IAN EOiiS " INC sum VI SJvtplD,pp. IL
leaves s2G0. 900, 90 as the ar.ual advance
in land values alone as figured by the
assessors. But their figures dc not
inCiGue spcc-la.l,, I.u..,. ,..U..,
which. al a low estimate, would swell
their total by 80 per cent. So the $780,
tS.00 must he restored TO their s-iH,-
0oc.Io in order to show the total adj
ance in the lands rca. market value.
Thich again becomes $G5OcJ,V 20 for tie
year.
That Queens should gain "a per cent.
and New Jersey - per cent. is no sur
prise to those VINO have followed the
great movements in those sections to
discount the under-river tunnels. Both
the McAdoO and tclmort tunnels Will
open those widely separated suburbs
10 the metropolitan home masses within
@ few weeks. The city assessors have
recognized solid Investment values at
the close of a year in which financial
panics friE .tcncd Spectators away
from all kinds Of operations. 1t is be-
lieved the tunnels offer - basis for new
speculative undertakings on a large
scale in those localities. and that such
a revival of speculation would mean
very much higher market prices for
land.
Richmond with its % per cent. In
crease shows tac effects of better tram
sit by the new municipal ferries as
well as the extensive exploiting of
South New York by large promoters.