The Penn's Grove record., 1919-08-08
JERSEYS HUGE
TAXATION BILL
State Board Report Shows
$17,856,1 Heaviest
Ever Assessed.
RAILROADS PAY THE MOST
New Highway System Gets $3,o93,356
From Years Special Levy-Many
Corporations Are Taxed
Heavily.

Trenton. = The largest amount of
money ever raised by taxation in the
state is accounted for by the State
Board of Taxes and Assessment, which
filed its fourth annual report with Gov
ernor Runyon. 1t shows that the
board assessed taxes totaling $17,S56,-
40, which will go to the state treasury
and to the municipalities.
This enormous sum was divided as
follows: Tax on main stem, tangible
personality and franchises of railroad
companies, S7,036, 107 on second class
railroad property, $500, 400; franchise
taxes ON capital stock of miscellaneous
corporations, $2,021, SS5; state tax on
life insurance companies Incorporated
in New Jersey, $4,000; franchise
taxes on gross receipts of public utili'
ties occupying public highways, S2,991,-
GIL: taxes on gross receipts of utili-
ties in lieu of the personal property
tax, S1,721,7S S
1t is further shown in the report that
the total taxes raised by the municipal
tiles at local rates, which is in addi-
ton to the taxes raised by the state
board, amounted to $50, 1902, divided
as follows: Road tax, S3,093,356; state
school tax, SS,237,532; county taxes,
ST, 330,937; tax for local purposes,
$57,472,265. In addition the local dis
tricts raised $507,325 in poll taxes and
$30,S62 in dog taxes. The total amount
levied against bank stocks by the coun-
ty boards of taxation vas S6S5,9S0.
The net valuation of the total prop
erty in New Jersey subject to taxation
at local rates, according to the report,
is $3,032, 164, 104. OF course the largest
item is that of real estate, which
amounts t. 50, 463, 203,4 The deduc-
lions allowed by the exemption Of sol
diers and sailors amounted to $1,215,-
4:34
An interesting item as shown by the
report is the large amount of property
specifically exempted from taxation
under the laws of the state. The valu-
alton of this property totals $500, 539,-
279 and is divided as follows: Public
school, $50, 1851; other school prop
erty, SIS, 194, 925; public property,
S118,673, rs; church and charitable
property, $50, 67,147; cemeteries and
graveyards, $7,513, 720; other eXemp-
lions, $2,SS7,0S1.
The increase for 1919 over 1918 in
The net valuation taxable was $1,23S,-
093. This would undoubtedly have
reached a much higher figure had it
not been for the operation of chapter
%, laws of 1919, which provides for
the levying of a tax OF the gross re,
of certain utility corporations
at the average tax rate instead of the
taxation of the personal property of
these utilities.
Electric Rates Cut.
Finding the present rates charged
by the Public Service Electric Com
for electric current yielding too
great an income, the Public Utility
Commission issued an order that will
the effect of reducing the income
If this corporation, which controls the
major portion of the electric current
business in New Jersey, by several
hundred thousand dollars. The saving
will be principally felt by those u S
omers paying the uniform retail pow
az rate, in other words, the small con
,umers and those paying the elevator
'ates. There will be no relief for what
5 known as the wholesale power Gus
omers and those paying the r~efrigera-
ltor rates and the kilowatt year rate.
In February, 1918, the state board
dismissed the petition of the public
to be allowed to enforce its
schedule and allowed instead an
order providing for a wal surcharge
If % per cent increase on the tariffs
or wholesale power customers, as well
IS a surcharge of % per cent or each
ill of the retail power customers and
he same surcharge on the elevator
ate. The Surcharges OF the tariffs OF
he retail customers and those get
ing the elevator rates are ordered
abolished by the decision of the Utility
Board, while the company is allowed
o continue the war s%urcharge of %
Der cent on the wholesale rate. While
Upward of 10000 users of electric eur
'ent will obtain relief under the
order, 200 wholesalers will fail
o get any.
In a memorandum handed down
With decision the board states that it
has made a careful analysis of the
finances Of the company from Febru-
Try, 1918, to July. 1919. 1t shows thar
he actual business done in that period
vas far in excess of all estimates.
The memorandum also points out
if the s~urcharge had not been al
owed the company would have sus-
aimed a deficit Of between 100000
md 100000, even taking into account
he unanticipated increase in business.
The net result to the company as a re-
,ult Of the increase allowed for the
ear 1918 over and above the amount
leeded to maintain its usual dividend
ate and to lay aside for depreciation
IN amoun deemed necessary by the
was a net gain of $504,0O0.
If the present rates should be con-
5000 81 =. i, 80 4Laf fhnT.n XynIl6 9