New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-01
Realty Boards
= Per Cent Tax
To Be Rejected
Albany, Although Believing
Realty Carries Too Much,
Is Opposed to Limitation
Relief Bills i'm Committee
joint Body Appointed to
Study All Such Legislation
and Report Back in March

ALBANY, Jan. 31.-A hearing on the
proposed law limiting the tax on real
estate in New York City to per cen.
of the assessed valuation will be held
next Tuesday before the Joint Com
mttec on Taxation and Retrencnment
The measure, introduced by Assembly
man Henry A. Sesselberg. of Staten
Isand, also provides for tx on per-
sonal property not exceed one quarter
Of one per cent.
The Tribune CORES ondcnt is in q
position to say that The bill will be de-
fcateo. 1t was introduced on the first
Light of the session i'll the lower
House, and has no yet been introduced
IN the Senate.
TIE measure, which is fostered by
the Real Estate Board Of New York
City and other realty organizations,
was introduced at the last session. and
was at first supported by Mayor Hylan
lie later withdrew his support. The
bill was allowed to die in the Assembly
Rules Committee.
Again last December the Mayor at
the public hearings before the Mayors
Committee on Taxation, held in the
Aldcrmanic Chamber at the City Hall.
gave the sponsors of the legislation
reasons for believing that he would
support it at this session Of the Lcgis-
lature.
lIylans Point of View
"Mayor Hyan," said Edword P.
Doyle. chairman of the budget commit
tee of the Real Estate Board. "is for
the bill if it is amended so that it
shall not take effect until 1922, after
no Of
TO get ell The new sources of revenue
possible, but he does not want to cut
down on any, so that he can SPEND as
much as cones in"
This is the only tax bill, affecting
realty so far offered, except one intro
duccd on Thursday Lv Senator Daniel
F. Farrell. OF Brooklyn, excmpting
dwelling houses occupied and owned
by men who fought cover thcrc."
The members of the two committees
on taxation and rctrenchment arc not
unsympathctic toward real estate own
ers, but feel that until there is a COM
pete reorganization Of the present
methods C taxation present sources of
revenue should not be disturbed.
4 committee OF SIX legislators, con
sistipg of three Assemblymcn and
three Senators, members Of the com
mlttees IN question. has been created
~ nm ACT OF the LcTl stature. lhiS
special committee has been instructed
to inquire into the subject of taxation
and to report back with proposed re-
medal Legislation not later than March
IL CT this year.
Must Relieve Real Estate
Menbcrs of the committee have OK
pressed themselves as to the belief
that the tax imposed on rca estate,
especially n the big cities, is too high.
Rclicf can be expected whom the pro
posed now state income tax is enacted
into law and other now sources of
rcYenn2 olhned up
Soma sort OF Il general personality
taX viii also be recommended by the
committee. if the Individual opinions
OF the EXPORTS retained by tho com
mitteo, as wei as some Of the com
mittce's members, are Incorporated in
Is report.
Senator Frederick NJ Davenport,
head OF tho department. of political
science at Hamilton College, who tor
marty occupied the chair Of economics
at the same institution. is chairman of
the Legislative committee.