New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-01
CLAIMS FOR LOWER
ASSESSMENT TAX
Reductions Asked in the
City Said to Reach
S150,000,000.

The August issue of "The Real Es-
tate Bulletin" the monthly publication
of the Real Estate Board of New York.
contains an article. under the title of
Huge Tax Items To Be Contested" in
an introduction to list of properties
figuring in certiorari proceedings.
THE Bulletin" says:
THE list includes the names of many
well known persons who object to the
assessments placed upon their prop
critics. The total throughout the city
is said TO reach Sl50,000.00O.
"On the WoOlworth Building a re-
duction of $1.500,O0O is claimed. the
assessment being $9500,00O. The
United Electric Light and Power Com
pany claims S1,500000 on its property
at Academy St, assessed for $5,500,-
GOO. On the Dakota. in Central Park
West, owned by Edward 5. Clark, $500
600 is claimed. The claim on the Com
mercial Gable Building, 20 Broad ST.. is
81 100000, and that on the Century
Building. at Broadway and New St..
81 100000. Lord & Taylor claim a re-
duction of S1.330000 on their Fifth av.
store and $l25,0O0 on the adjoining
buildings.
ION the Trinity Building. III Broad
way. $4,000, and on the adjoining
building. 100000 is claimed. X. H..
Macy & Co. claim reduction of ST.
100000 on their store at Herald
/ Square. assessed at S6,S00,0 900. Michael
Friedsam. representing the Altman Es
tate. claims S250,OO0 on the Altman
store. on Fifth av., and several smaller
items on nearly a score of properties
in the adjoining neighborhood. The
New York Stock Exchange claims ST.
100000 and the New York Produce EX-
change 100000. The National Park
/ Bank claims 1t is assessed 100000 too
much.
"A number of residents of Fifth av.
claim Overassessment. Senator Clark
claims S1,35O,0O0 on his residence at
962 Fifth av.
Numerous claims are made in the
loft district north and south of 14th
St"
Commenting edtorially on the sub
ject. "The Bulletin" under the caption
Bleeding the Taxpayer" says:
THE subject of overassessments of
real estate is becoming a serious ad-
ministrative problem. Perhaps the de-
pressed condition of real estate has
aggravated the situation. But there
probably never was a time in the his
tory of the city when so many persons
were concerned over the fact that their
properties are too highly assessed. In
Brooklyn the situation is acute.
in Manhattan it is. if anything,
more so. Throughout the city real es
tate owners are resorting TO certiorari
proceedings to have their assessments
reduced. The total of these reductions
in the five boroughs is said to reach
$150,00000O. But in any event it is
unusually large. The Bulletin pub
fishes herewith a portion of those filed
in Manhattan. 1t would take nearly
the whole issue of the magazine to
publish the full list. The individual
reductions run from $4,000 or $1,000 to
nearly 100000.
"Certiorari proceedings mean that
the ordinary requests filed with the
department have not brought the de-
sired relief, and that the owners are
so convinced of the soundness of their
contentious that they are willing to
make it the subject of legal contro-
versy. and, of course. the small owner
cannot resort to these proceedings. He
/ simply pays"