New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-05-04
VALUE OF ITS REALTY
Property in PIainfield Assessed
at S26,000,000.
TAXED AT MARKET WORTH
Many Parcels in the Business
and Home Centres Cost
Many Thousands.
by William X. Townsend.


The assessed valuation Of real property
in the city OF Plainfeld was about $4,000
600 twelve years ago; to-day IT IS S26.-
600 600. II might be i'Nerred from these
figures that Plainfeld is three times larger
than it was in 1901. but it has. however,
not grown quite that fast.
\ large part of the SIS. 900, 600 increase
in the years in question resulted from a
legislative amendment 10 the general tax
law passed I'm 1906 Under that amend
ment assessors must appraise real prop
erty at its market worth for taxable pur-
poses. II is generally conceded that the
market value Of real estate is what the
real estate will bring under normal con-
ditions. and not at a forced sale. 1t Is
difficult TO determine what certain kinds
Of property would bring If both owner
and prospective buyer were willing to sign
contracts. and perhaps that is the prin-
cpal reason why some assessed valuations
seem low
There are many choice properties in
Plainfeld. I feel certain that the Queen
City of New Jersey will compare favor
ably In this respect with any other place
Of similar size i'm the metropolitan dis
trict. This applies both TO business par
cells and to dwelling houses as Plalniield
has many notable realty assets in those
two classes.
Its retail trade centres are vigorous and
growing, its dwelling house districts most
inviting and of the best type and its manu-
featuring areas are not at all drawback
to the continued development Of the place
into a more beautiful Residential and bust
ness town.
The Babcock Building. in West Front
street. is one Of the principal buildings Of
the city. 1t is comparatively new, as IT
has been rebuilt I'm recent years. The
plot on which it stands has a frontage Of
III feet and a depth OF about 70 feet. As
its value for taxable purposes is placed
at sloS,225. its front foot assessed rate IS
a little more than 500.
The Niles Bement-Pond Company
property is assessed al 100000 and there
are some other industrial concerns here
which also pay taxes on many thousands.
The best home centres OF Plainheld are
In the I'd and 81 wards. Netherwood, one
Of the most enhancing residential places
i'm the municipality, is a part OF the "a
Ward. Among the well known residents
OF Netherwood are 5. a. Cruikshank'
Robert Meeker. Assistant Road Commits
sioner Of the State OF New Jersey. and
William Palmer Smith.
There are numerous dwelling houses In
the city costing 10000 or more. Plainheld
is truly city OF beautiful homes.
The list OF ratables and exemptions In
Union County for 1912 is still at the
printers But the 1911 list will give 10 the
person seeking facts about The realty
strength OF Planfield good idea OF that
power.
In 1911 the total assessed value OF land
without improvements was &.6O' .225. the
value OF improvements Sl5,o9j.l15. Of per-
sonal property S3,6236s5. and the net val
uation S25.45S 533. The worth OF it's public
school property was placed at $500. OF
other school parcels at $4,000. and church
and charitable properties at @i-'S" us
state school tax was $6i.4s7. the county
tax SIS .03l and the local tax S2.H0.