New-York tribune., 1919-10-03
TAX Values
Aid Fight for
Higher Salaries
Estimate Board Enabled
to Increase Pay of Pc.
lice, Firemen and 9th.
ers, Cantor Declares

The tentative valuation Of real es
tate throughout the city for 1920 is
~o'21l, ,157 sos. This Is an increase Of
$zo2'ol6,459 over 1919. From this lat
ter sum, however, must be deducted
1ne increases on values Of property
held by the Federal government and
other tax-exempt realty. which total
approximately s44,oOo,oOO, leaving the
net tentative increase little more
than s208,5OO,0OO.
President Jacob A. Cantor of the
Department Of Taxes and Assessments
emphasized the point that the in
creased assessed values will enable the
boaru of Estimate to increase salaries
OF policemen, fremen and other city
employees.
The tentative personally tax rolls,
all classes, as was expected, showed a
shrinkage of nearly SO per cent, being
$61o,o93,2 less than in 1919, when
they totalled Sl,396. .040,625. This loss
to the :ity In personality for taxation
purposes is due to the provision in the
state income tax law which exempts
from local taxes all intangible prop
erty-stocks, bonds and bank deposits
of an income producing nature.
Income Tax Benefits Later
But under the provisions of the same
law the amount collected in the various
political subdivisions of the state will
be divided between the state and the
locality. 1t is expected that New York
City's share will be between $4,000 900
and $4,000, 900. But this will not be
available until after the tax rate Is
fixed during the first week in March,
so that the levy on real estate for 1920
will not be reduced by this forthcom-
ing contributions to the city treasury
Experts believe that the new tax rates
will be a record breaker.
The total of tentative realty and
personally assessments for 1920 is So
O57,105,0O8. To this figure must be
added the equalized value of special
franchises, which are fixed by the State
Board month prior to esta ablishment
of the tax rate by the city authorities
This year this item totaled $4O9,-
681,6O4.
President Cantor declared that the
realty valuations we're fair, and that
he was confident that they could be
sustained in the courts should property
owners contest them. The average re-
ductions have been less than eleven
obtain, the city's increased borrowing
capacity would be about $2l 900 900.
Brooklyn's Increase Large
The tentative increases in realty
valuations over 1919 by boroughs, new
buildings included, follow:
Borough Increase. Bldgs
Manhattan...... :7i.ls5,47s lo3
The Bronx ....... 24.76S6 $50 loS
Brooklyn. lls.?756ds 2st
Queens .......... S2,07s,oso 2.+27
Richmond, ,....... s227.675 964
Totals. s............s25 s252.5ls459 $50
Commissioner Cantor admitted that
in making the real estate appraisals
his subordinates had not made any
effort to gouge the rent prohteer.
Statements to the contrary were made
at City Hall in the last few months.
Commissioner Cantor said that what
ever might be said regarding the work
of his assessors, one thing should be
emphasized: 1t will enable the Board
of Estimate to increase the salaries
of policemen, fremen and other city
employees.
Commissioner Cantor said that he
predicted that the loss in taxes to the
city on personally would exceed $4,-
0O0,0OO If this holds good the in
crease on real estate taxes, allowing
for the usual reductions, will add
taxes for 1920. or a net increase OF
about $50 900 900.
Comparison of Personal Rolls
The comparison Of tentative personal
assessments, all classes, for 1920 ant
the present year, follows:
Borough 1920 1918
Manhattan. s55s. 4s2.soo $1.1o1.os4.4ot
rhe 4sls1o9o ~ 65o sSsos sSs o.
Queens. ....... e7s54550 5i3os.5at
Richmond 49,. 6,S10100 6456. SOC
Totals .... $7s5.947.4oo s1.soe.o4o.s2:
There was an increase in the per.
sonalty tax of foreign corporations oil
$42 100000. The right Of the city te
tax these corporations, which last yeal
were assessed on personally $4,000,
600, has been questioned. But under {
ruling of the Corporation Counsel tn.
assessors went ahead with this impost
AS heretofore, the largest persona
assessment was levied on John D
Rockefeller. He headed the list with
S5,000,0O Last year the tentative as
sessr 1T against Mr.. Rockefeller was
double that amount. In the cases OF
tative assessment on their personal
property for 1920 was held at the figure
on which they paid this spring.
Personal Property Values
Some of the heaviest valuations OF
the personally tax rolls are Edwar,
s. Harkness, 81 900, 900; Cathleen G
Vanderbilt, Alice D. De La Mar, Payn'
Whitney. Thomas Fortune Ryan
.A&a