New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-02-08

cities on its line. Suppose the steamboat
company announced that IL would discon-
,inue al boat service at that same city.
The population would All be there.
wouldn't IL? In fact II couldn get away
very conveniently But don't YOU suppose
that the land values would drop under
such conditions Then which makes the
values. the population or the enterprises
Now, suppose the reverse situation A
railroad announces Il will establish a new
station on its line and tho steamboat
company announces that ~ will establish
docks there. Population comes I'm and
land values 70 up. But population didn't
come in without the capital and enter
prise. and IL doesn't stay long when the
capital and enterprise leave
heartily favor efforts 10 improve
housing conditions and living conditions
have studied these conditions IN many
American cities and IN the cities Of many
European countries 7 have recently IN
vestigated with special care conditions IN
foreign cities where various plans OF tax
alton have been introduced with the hope
Of improving conditions. do not see
that the proposed change I'm tho relative
tax rate on land and buildings Will i'm
prove conditions So New York. Wher
the similar proposed measure was intro
duced I'm the State Legislature at pre-
vious session ] discussed its futility as
applied TO New York City.
The concrete facts presented ~ that
time are still pertinent 7 then said:
4 simple examination Of the value OF
improved and unimproved property and
the value Of buildings in New York city
will tend TO show that the scheme OF
taxation. as proposed, would not arrive
AT the results hoped for by its advocates
nor. on the other hand would II create
the burden which some Of the opponents
who are land owners seem TO fear
A consideration of the facts and con
ditions. rather than the theory, may be
helpful.
The assessed value Of real estate-tha'
IS. land and buildings-in New York City
is about 5000. 10000. The tax rate varies
slightly in different boroughs OF the city
but is a little less than two cents
The assessed valuation OF land alone j:
about 81 800 600 600. and the assessed valua-
ton Of buildings about $3.50, 10000. tn,
land az present pays taxes of about $50
1000 and the buildings about 100000
OF the taxes paid by land vacant LAND
pays about 81 ,c0o.0co Thus II seems thai
II the present rate of taxes on land were
increased about one-third and the tax rat,
on buildings decreased about two-third:
the same aggregate revenue would be oh
tanned and the tax rate on building!
would he one-half the rate on land, whicl
is the provision of the bill
Thus IL is seen that buildings instead OF
paying 100000 taxes, rs at present
would pay about So. 90 600 less. or tax
Of about 100000, Land would pay in
stead OF 100000 about Sill. 10000. Since
vacant land a present is taxed about 81.
10000 the increased tax on vacant land
would be about 100000
Now. there are some owners Of large
buildings who may oppose the bill even
though Il might reduce their taxes. fear
ing that it might encourage the erection
Of q great many new buildings. since the
tax on them would be considerably less
than at present. IT is therefore competi-
ton that would affect them rather than
the question Of the tax rate. which in t.
self might be in their favor.
II IS exactly the purpose OF the bill &c
encourage the construction of new build
hut there IS M that the