New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-09-17
WANTS NO TAX
ON BANK SHARES
Advisory Council APP
proves Attitude of the
Controller.
CALLS THE PLAN
AN NEGOTIABLE ONE
United Society of Bohemians to
Have $4,000 Bronx
Clubhouse.

The Advisory Council Of Real Estate
Interests has decided 70 REINFORCE the
action taken by Controller Prendergast
20 have the value of bank shares
eliminated from assessed valuation on
which basis the state tax is fixed and
collected. This is the first time that
bank shares have been included in
these assessed valuations for state tax
able purposes. Up 20 date the tax on
bank shares has gone direct to the city
as the direct state tax has been levied
wholly on real and personal property,
exclusive OF bank shares.
Controller Prendergast and CORPORA
ton Counsel Polk decided 20 contest
this action on the part OF the State
Board because II a direct state tax of
IL mills should be imposed on bank
shares, the city's contribution TO tho
state for the year will be, IL Is said,
S6l6,6OS, thus bringing the total tax levy
to be paid by the city 70 the state 70
Sl3,g75,O2l. The entire direct tax for
the whole state Is $l9,693,690.
IF the state should determine 20
take to Itself this tax upon bank
shares" says the advisory council, "it
will thus impose upon real estate an
additional burden, for the tax on bank
shares obtained by the city has always
been contributed 10 the general fund
for the purpose of reducing taxation.
Each year there are certain funds which
are utilized by the Board of Estimate
for meeting certain proportion of the
expenditures under the city budget.
Thus, If these funds are 20 be grad
ually taken by the state, and the as
sessed valuation of real estate is 20 be
determined at lower figure than nct-
ually prevails, the possibility OF relief
IS far distant Consequently, property
owners should communicate with tho
Attorney General and the State Board,
impressing upon them the fact that
these decisions that have been arrived
at recently are unfair and inequitable."
The United Society of Bohemians,
Frank Sladek, president, filed plans yes
terday for a two story clubhouse, COX
14l, TO be erected on the south side Of
166th St, 97.6 feet east of Park av. The
cost Is placed at $4,000 by the archi-
tect, Anthony NJ. Colucci. Plans were
also filed for two story dwelling, COX
81, at the northwest corner of Dyre
av. and Light St., by James p. hi Ciceo,
to cost $1,000. Henry Nordheim Is the
architect
The private sales reported yesterday
were:
PROSPECT Av.-Ths Nsson Realty Company
purchased from DAVID and Bertha Bloom the Ave-
story new law apartment on plot 3161l00 at 50
Prospect ay I. Is within 100 Zee, OF the Prospect
Az. subway station.
18th ST.-Edwani " z. Lane was said 20 har,
bought me four story and basement dwelling on
lot 201l0o5. at 20 West 4gth St. between Fifth
and Sixth avs The buyer has occupied tie house
as tenant FOR some time
l9STII ST.-AugIst Yollmar cold for a client to
= MI; sehsemmer ts2 and iss East lss,h s.. two
nVe stoTg rath0llses. each on lot 2jIi0O.
/ T51l0o. on the west side o. Davidson sy. $50 feeC
| north o. Fordham Road 70 q builder Tor improve
/ four years.
18TH sT:-TAe plo. ssrlo0 on the north side d,
18th st., 100 feet east Of Valentine az wa pur-
| chased BY q client OF Frank J. McRickad
leSrH sT.-Anne Gully sold ia Fast iesth a,
three stoV dwelling. 90 lot 25ri0o The bu,.r