The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-01
WANT ASSESSMENTS
CUT BY $15O,OOO,OOO
Real Estate Board Report $
Owners DiSSatiSficd-C Crit
icise Tax Board.

In the August issue OF its Real Estate
BUiicttn the Real Estate Board of New
York has a startling statement of the
condition arising from what IL terms the
overassessments OF real estate in New
York city. Under the title OF Huge
Tax Items TO BE Contested in an intro
duction to a list of properties figuring
IN certiorari proceedings the Buiictin
SAYS.
The list includes the names of many
well known persons who object to the
assessments placed upon their proper.
ties. The total throughout the city is
said To reach s150.OOO. 600"
on the Woolworth Building a reduc-
ton OF Sl,5O0.00 is claimed, the as
sessmcnt being s9.5OO.000. The United
Electric Light and Power Company
claims si.500.O 600 on i,s property at
Academy street, assessed for $500, 900.
on the Dakota. on Central Park West.
owned by Edward :. clark. $3.50. 900 is
claimed. The claim on the Commercial
Gable Building. 90 Broad street. is
1000, 600, and hat on the Century
Building. at Broadway and New street,
81. 200. 600. Lord q Taylor claim a re-
duction OF s1.339.O 0 on their Fifth
avenue store and $4,000 on the adj
Joining buildings. on the Trinity
Building. III Broadway. s750.0Oo and
on inc huJplnlng pullullS NJN'.N'N are
claimed. X "a. Macy 4 Co. claim a re.
duc;i6n Of sl.7jo,ooo on their store AZ
Herald square. assessed AT S6,SOO, 900.
Michael Fried.am. representing the Mt
man estate, claims $500. 900 on the Att
man store OF Fifth b;cnue and several
smaller items on nearly u score OF prop
critics in tre adjoining neighborhood
The New York Stock Exchange claims
Sl.s7O,o0 and the New York Produce
E-A AAn nh RI
Bank claims Il is assessed 5000. 600 too
much.
A number Of residences on Fifth ave-
niue claim overassessment Senator
Clark claims s1.35O.OO0 on his resi-
dencc at 362 Fifth avenue. Numer-
Gus cl1ims are made in the loft dis
tr!ct north aud south OF Fourteenth
street. Commenting oditorially on TIC
same subject the RUHcitn. under the
caption BLEEDING tho Taxpayer" calling
attention TO the gravity Of the situation
says.
The subject Of overassossments Of
real estate Is becoming "A serious adj
ministrative problem. Perhaps the de-
pressed condition Of real estate has ag-
'gravated tho situation, But prob
ably never was "A time In the history al
the city when 50 many persons were
concerned over the fact that theii
lnrODef'ltS H'f 700 ulEIlN fNS'N"''s ~
Brooklyn the situation Is acute. II
Manhattan il is. If anything, more
90. 7 roughout the city real estate
owners are rcsorting 10 certiorari pro
lCeedings to have their assessments re
duced. The total OF these reduction
IN the five horoughs Is said TO reac'
$3.50, 600. 600. But IN any event II /
unusually large. The individual reduc
Itlpns run from $4,000 or $1,000 to nearl.
$4,000. 600.
"Certiorari proceedings mean that IN
ordinary requests flied with the de
apartments nave not brought the desire
relief and that the owners are so con
WINGED of the soundness of their con
tentlons that they are willing I
make II the subject of legal cor
troversy. and Of course the small owne
cannot resort to these proceedings. IA
simply pays"
1t insists that a great deal or IN
trouble comes from the appointment n