Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-12-09
RATABLES SHOW
INCREASE OF ST. 10, 4o0,412
Continues from first Page,

class railroad property, s2.e45,5s1; on
personal property. $5,93e. 855. OF the
total increase, over s11, 000, 900 comes
from Jersey City, being about 500
900 each on real estate and personal
property and 81 100000 on second
class railroad property. The town Of
Kearny returns an increase Of about
, s2,500,000, and Bayonne and West New
York show increases Of about $1,000
900 each.
! Essex county returns O net in
crease of s22, sos, 40s over 1912. A pc
+ culiar feature Of this is that while
real estate, exclusive of second-class
railroad property, has Increased $751;
SOS. 61s, personal property valuations
In the county have decreased to the
extent of s25. ,304. The decrease in
personal property comes from New
ark and is due to the fact that the
courts have decided that the deferred
dividend funds OF the Prudential and
Mutual Benefit Life Insurance COM
panies, of s29.638,9S5 and s2,43S,024 re-
spectively. are non-taxable.
In Bergen county there Is an In
crease of s2i ,675,531 of which over
SIS, 100000 Is on real estate.
An increase of SO, 60.25476 in Union
county comes chiefly from real estate,
on which the increase Is over $1,000
900. The State Board reports that
there is a general advance throughout
Union county, the highest Increases
being about 100000 In Eliza beth,
and more than $1.500,0J0 In Plainfield.
In Union Township a, seeming de-
crease in ratables Is due to the fact
that this township has recently been
divided into two taxing districts, IL IL
side Township having been formed
this year from a portion of Union.
In Mlddlesex county the increase
of &C. 085, 500 is chiefly on real estate,
although personal property has In
creased by nearly $1.500.000.
Passaic county's increase Of 80 COL
056. of which $4.S96,613 is on real cs-
tate exclusive of second class rail-
road property, is generally distributed
throughout the county.
Monmouth county reports an in
crease of $5,061, 12S, almost entirely on
real estate.
The increase of $4.s47, 137s1 in Cam
den county falls chiefly on real estate,
the personal property increase being
1920. 3O6.95. Nearly So 900 of the
total increase comes from the CITY
OF Camden. while smaller increases
are scattered general''' throughout
the county
Smaller increases are returned
from other counties. The annexed
tabulation shows the ratables for
1912 and 1918. and the increase IN
each county for this year:
Suggest Reforms in Bank Tax.
The State board relterates its
declaration, made In several former
reports to the governor. with refer
ence to the defective operation OF the
New Jersey taxation scheme as ap'
piled to per sonai property, and par
ticuIarly TO bank stock.
I'VE here emphatically reiterate all
we have formerly said upon that SUD-
ject," the board reports. Continuing.
1t says:
THE personal property of the State
does not bear It's fair share of the
tax burden, and the share 1t does
bear is not equitably distributed.
great deal Of personal property es-
capes taxation that is not exempted
by the statute. Bank stock Is. the
most conspicuous example OF such
property, in consequence of the oper-
alton of the so-called Buck act.
which permits the non-taxable Sc
curities held by the banks to be de-
Quoted from the market value of the
bank stock owned by their share
holders. The result Is that tie value
of bank shares for taxation is IN
many cases entirely wiped out and
in all cases substantially decreased.
whatever technical arguments
NAV be advanced to justify this M
dition, the plain fact remains that
bank shares enjoy a practical ex-
emption from taxation that g wholly
at variance with the spirit Of our
taxing scheme"
To reform this condition, the State
board suggests a method which pro-
yides for the assessing of bank
shares at their book value, without
any deduction except for real est;l G
separately taxed, and the applica-
ton theI eto of q fiat rate OF taxation
throughout the State.
other recommendation in the, "a
port are that household goods be
relieved entirely from taxation, or be
allowed a substantial exemption;
that the election of assessors BY
popular vote be abolished. ard new
method of selecting them be devised
in full recognition of the fact that
there is no position in TIE public
service that ought to be filed with
stricter regard for the special fitness
of the incumbent: that districts for
assessment purposes be made large
enough in territory or ratables to
warrant the employment at adequate
salaries, of assessors who should give
their entire time to the work; that
the Hillery maximum tax rate law
be made more direct and definite In
its provisions. and that. in Difference
TO home rule. the limitation of the
local rate should be made subject to
the right of each taxing district, by q
vote of the people. to exceed the
maximum fixed by the general law
The board also reports some 5Sl
appeals received and heard from in
dividuals, corporations and taxing
districts. A number of these are
cited. showing the various grounds
on which appeals are brought. At
tention is also called to g recent
ruling of the Supreme Court. under
which all appeals. except those OF
| taxing districts and counties. must
be taken first to the county boards.
The report when finished with con-
tain all the opinions filed by the
BOARD this year In cases involv'ne
90 Ia AS Hah