The sun., 1919-10-03
S252,516,459
GAIN In REALTY
IN TAX PLANS
Total $8,271,157,6O8, With
Net Increase $208, 100000
Under Tentative Levy.
RENT GOUGERS TRAPPED
S61O,O93,225 Cut in Person.
atty Levy, City May Borrow
S2O,85O,OO0 More.
RENT GOUGERs TRAPPED

New York city real estate shows a
tentative increased assessed valu-
alton for purposes of 1920 taxation Of
S252,516,459 over the valuations for
the current year. according to figures
given out yesterday by the Depart
menut of Taxes and Assessments. The
total value of realty in the city now
is 1921, 157, sos.
There must be deducted from this
figure an amount Appropriated to be
$4,000, 900, representing the value Of
property acquired by the Federal
Government for national purposes,
and 100000 more exempted by law,
which leaves a tentative net increase
of about $20S,50O,0 900.
Should these increased assessments
stand the test of appeals to the tax
board and the courts the city's Dor
rowing capacity will be increased by q
tenth of the amount, or $20,S50.000.
While no official figures are available
for the 1920 budget it appears more
than likely that this new margin will
more than be absorbed in the require
ments that Il e city will have to meet
out Of taxation on real estate for the
coming year.
Az against the increase in new as
easements on real property the tax
departments compilations show a de-
crease of $610,093,225 in personally.
which, however, does not effect the tax
rate nor the city's borrowing capacity.
Brooklyn showed the largest in
crease of assessment on real property
with a total of $11S,276.669. Manhat-
tan came next with more than $780,
100000, with Queens, The Bronx and
Richmond following.
In Manhattan and The Bronx Il ap-
pears that the increased assessment will
fall upon improved real estate. AS COM
pared with the other three boroughs,
there was little increase in the number
of new buildings. Manhattan shows a
total OF only 103 and The Bronx 1853,
while Brooklyn and Queens are each
credited with more than 2,400. On
Staten Island the figures show more than
800 new buildings have been erected
and assessed during the lest year.
Small increases for Hotels.
Relatively small increases are shown
in the assessments against hotels and
theatre properties in Manhattan, and the
same holds true OF most of the holdings
of the Fifth avenue millionaires Prop
erty between Fortieth and Seventy ninth
streets, west of Sixth avenue, were in
creased in the largest ratio in Manhat-
streets. west Of Sixth avenue. was In
the district between Fourteenth and
iafh or of
and the next in the territory south of
Worth street and west of the Bowery.
John d. Rockefeller leads the per-
sonalty list with an assessment of S.
OO0, 900.
In a statement last night Jacob A.
Cantor, president of the Board OF Taxes
and Assessments, averred there had been
no attempt on the part Of the board to
exercis any punitive measures toward
apartment house owners or others who
may have been guilty of rent profteer-
ing. He thought that the increased as
sessments in all boroughs would stand
in the event Of court proceedings, and
that they would provide means for in
creasing the pay of employees of the po-
lice, fire and other city departments
He said:
81 have examined some OF the assess
ments made by the deputies. especially
Increases, and am satisfied they were
extremely conservative. 1t must be
recognized that property owners who
have abnormally increased rents to the
extent of profiteering have largely added
an element of value to their property
which was considered by the deputies IN
making assessments, and whatever the
effect may be upon the tax rate II has
not influenced this department in any
respect.
ut is evident that through the worl
of this department the Board of Estimate
and Apporlionment will be enabled to In
crease the salaries contemplated by then
in the police, fire and other department.
of the city government
I'VE believe that we can sustain tn,
assessments we have made in the even
of proceedings being brought by dis
satisfied property owners for reduction
The personal property assessment (tenta
tive) shows a decrease of 361o,093.225
making the total tentative assessment
for 1920 s7S6.s47.400. as agains
1896, 040.625 in 1919. We expect, how
ever, to collect about one-half OF tn,
personal tax paid last year. which will
mean a loss to the city in personal taxei
OF more than $4,000, 900. The decreas,
in tentative assessment of personal prop
erty is due to a large extent to the pro
visions of Section 352 of the State in
come tax law, which limits the iuris
dlction of local assessors to tangibl,
and non-productive intangible person
ality. The tax rate will not be In
fluenced this year by any collections
under the State income tax law, a.
the law does not go into effect unit
March. 1920"
Figures on Assessment.
The comparative figures showing tn,
assessment on personal property FOL
1920. as against the current year, is Al
follows:
Borough. 1920 1919
Manhattan ....... $3.50, 432, 500 $1l01, Os4, 40
The Bronx. 49,lSl, 000 45. so, 10
Brooklyn .......... 1859, $50 1el 296 81
Queens N,So4, 800 OIL 49,. IS
llichmond ..'...s. 6nOJOO 6,466, 90
S7S5,s47, 400 81, S96. OK, g.
7S5, 947, 40
Decrease $780,. $50, 09s. q
The tax books showed the followin,
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