The sun., 1916-11-05
S2S9,OOO,OOO forum
new YORK IN 1918
Realty Expert Bases Estimate
on Latest Budget Figures
demand Relief.

NcN York city real estate owners are
confronted with the prospect of paying
taxes in 1913 on a budget, which will
ro;a, $3.50. OU0. 900. with the budget lust
completed ~ "A basis for computation
Laurence " u. Mc1uire. president of
The Real Estate Boar Of New York, has
reached the ~strangling estimate OF close
10 S2i0,o 600. 900 "a the cost OF running
the municipal government at the end of
next year. ha. Is during 1918.
since last fail our expenses have IN
creased at least s12.0Oo,0O0 as the
bulge, for 1917 is nearly ~ large as
tha, for 1916, when taxpayers had to
pay "a direct state tax OF $4,000. 900.
The budget Just announced II S211.1i5.-
ois.S. The budget for 1916. or that
made last fall. To run the government
during the current year was s2l2,s56.-
lll.5i
In discussing the outlook for real es-
tate next fall Mr.. Mcclure said.
Judging by experience there seems
10 he no hope OF any reduction in 1888
budget. 30 we may start with a local
budget OF approximately $211. 900. 900.
The Increase for debt service and
pay as you g. policy will probably be
$4,000. 900. The Board Of Education
will certainly not correct its habit Of
asking annually for Il huge Increase.
IL. Us estimate that at 81 1905 0O. The
other miscellaneous items let us place
al approximately $500. 900. This makes
n total for the city budget of nearly
SEES. 00O. zoe. and IL there Is a State tax,
As most likely there will be, this we may
place at approximately last years fig
ure. $4,000, o00. This makes Il total
budget VI s239. 900. 900. TO he made up
BY the administration on November /,
1917.
The debt service increases are in the
main unavoidable. But some will ques-
ton. us tho Real Estate Board did a
year ago. the wisdom of making the
pay as you 20 policy compulsory, be-
cause OF the sharp increase II Is making
n the budget and the tax rate. There
is no reason why the process could not
nave been spread over ten years instead
VI four.
The fact that we are spending nearly
Si.5U0.0OV for widows pensions seems TO
have had no apparent effect on the
Charities Department. The department
actually asked an increase OF $1,000. 900.
But one thing seems plain. II we
must provide such staggering sums why
should real estate pay nearly all OF It?
Taxpayers should absolutely insist on
NV ~ ''Ns1' ~ nav
aggressive steps to secure new revenue
from other sources thar real estate, so
thai this tremendous burden Of taxation
may not fall entirely upon real property.
Real estste IL paying 80 per cent.
Of the city taxes and more thar 20 per
cent. Ut tine State taxes. City property
10 also over assessed. while II IL no.
torous that property up state Is as
sessed too low.
"lt seems incredible that with a bud
get amounting IT, unhcard Of proportions
city officials can be indifferent OF this
question. and the Real Estate Board
feels Il its duty to call attention to the
very serious situation which confronts
taxpayers and 10 the necessity for urg.
ing that some definite intelligent pro-
gramme be Immediately formulated and
executed for making other forms of
property do their share toward support
Ing the government"