New-York tribune., 1909-03-24

ough The Bronx until the street system ~
also made permanent
Man, real estate experts often wonder how the
Tax Department can accurately dstermine values
from year to year with its force OF appraisers III
often takes real estate appraiser the greater part
Of or whole day and often longer time, to ap-
praise the value of single parcel He cannot see
how q dep1ty commissioner, with about ten thou
sand parcels appraise each year can reach
conservative estimate OF the values Of those prop
critics"
METHODS OF TAX DEPARTMENT.
.'Now in the Tax Department we use wholesale
methods, as it were. in fixing the values OF prop
erty and by value mean what property Will sen
for under ordinary conditions in the open market
We do not retail methods at all IN this "olA-
For instance a deputy commissioner may be trying
to fix the value OF a certain block He may hrst
decide upon the value OF a corner parcel ana tnus
by the aid Of those figures and by reference 10 MS
field book showing the previous assessments ana
also bv examining recent building statistics to find
ont whether or not there has been cnahSe IN
the type Of buildings on the block ne Is ao.e II,
short period 10 hx the relative NaIueS u d'
the parcels In that block
This year the deputy tax commissioners VIII en-
tar ,non their work OF assessing properties Win
the aid Of maps. These maps have been prepared
bv the department and they somewhat reSeHioie
the block charts maps but the blocks are ura"h
in such manner as to be much smaller than those
on the maps which been in general use In this
city for many years
These maps show the front FOOT Vaiuauohs oi
each block and with their aid the deputy com
missioner will have view Of the entire front foot
valuation OF the block in which he is seeking 20
reach his new figures OF values
As vet there are no ironclad rules to determine
values and that is the reason that there is such
wide difference in the appraisement or certain par
GELS as made by the leading realty experts Of the
greater city. We looking forward to that day
when there will be fixed rule for guidance in
reaching the values OF corner parcels especially
and I think that day is near at hand although
there is no general rule in in determining such
values among the brokerage houses
FIXING BUILDING VALUES.
In fixing the value OF buildings the deputy COM
rnlss!oners Will also have the OF another map
showing for instance. the various values Of each
SQUARE foot OF floor surface OF each type of build
ing. For instance. the cost Of a square foot of
floor space OF a modern office building ranges from
about 81 IS and those figures will be printed on
the map. The cost Of construction of good
dwelling house about 81 80 for each square foot
OF floor surface and the map will also reveal that
fact. and for tenement house the average cost Of
A square foot OF floor surface Ia about 81 25. and
those figures will be printed the map. Now.
with the aid of such a table OF construction cost
Il is simply matter OF mathematics to determine
the value of building. after have carefully
noted its height and general construction.
II think the day will also arrive said Mr.
Purdy when there Will be a law such as I advo-
realty transaction be either expressed in the deed
an affidavit setting forth that fact be submitted
the Tax Department for its use" Mr.. Puriy
also referred to law passed in 1853 which related
the statements to be made by real estate com
panies Incorporated in this state. Under that law
the actual value OF real estate must be expressed
in the statement. and the difference between the
actual and the assessed value OF the property was
the taxable the personal assets held by the
company. He referred TO of a company with
Offices in this city which had property in Nassau
County. The property there assessed at
IS 900. but its market value $50 900. Thus
s72 1000 was the amount Of its personal property
taxable.
One Of his hearers wanted to know how a person
could conscentIously sign under oath an affidavit
In which the assessed valuation given as the
actual market value Of the property. Mr. Purdy
replied that the value of property expressed
by the Tax Depa rtment OF this city was legally its
market value, and that local company with
property within the city could legally put in the
assessed valuation the actual valuation and
therefore the amount taxable personal property
was nothing.
The same person said he thought law requiring
that consideration for transferring a deed be ex-
because many considerations" would be unreal.
Mr. Purdy said that deputy commissioner In sur
veying a large section would experience little
difficulty in finding out what a true or fcti-
tioIa sIderation