The sun., 1919-02-06
REALTY MEN URGE
r. 2 CENT LIMIT BILL
Legislature Asked to Amend
Charter Of City to Hold
Down Taxes.
CHALLENGE TO MAYOR
Speaker Says Responsibility
for Disappearing Measure
Should Rest With Him.


ALBANY, Feb. 5.--New York city real
estate men at a Joint hearing before the
legislative cities committees this after
noon urged favorable action on the
secsselberg bill to amend the New York
Charter by limiting tho tax on real
property to two cents on the dollar.
They advocated also the adoption Of the
companion bill before the Assembly
Taxation Committee to strike out the
provision in the Ia, law that the owner
Of personal property shall be allowed
| n deduction from the full value OF his
| taxable property to the extent OF his
debts.
The only opposition to the bill came
rom James r. Brown OF the Manhattan
Single Tax Association and Henry Dom
ovan Of the Single Tax party in New
/! York. Edward =. AtcGoldrick. Assistant
Corporation Counsel of New York. said
| lie would like to reserve for the city the
right to presem its views Mt a later
| hearing. The Mayors Tax Committee.
! he said, has prepared several tax bills
| and he would like to have these con-
| sidered at the time the Seesselberg bill
! is taken W.
Robert E Bowling chairman OF the
| legislative committee OF the Real Is
tate Board OF New York. made the prin-
| cipal speech for the real estate men. He
| satd the question before the committees
| Is very simple New York has stopped
growing in buildings. but not in popu-
lattou. due to the fact that property
| values have deprecated on account OF
| the high and constantly growing tax
rate.
Challenge to the Mayor.
| II is a remarkable situation. Mr..
| Bowling said. when all agree that relief
Is needed but IL Is not possible to get It.
| Send this bill to the Mayor or New
York and let's see II he has the nerve
to veto t." Mr.. Bowling said. Let
US see IL he will take the responsibility
| to disapprove It. He says he believes
in Its principle, but that IL carried out
there may be no way to raise enough
money to meet the running expenses OF
the city"
The speaker declared that Mayor
Gaynor enormously increased the debt
carrying capacity Of the city by writing
one letter directing that assessments be
| Increased. THAT statement" Mr..
bowling declared. with due respect 70
the former Mayor. was an outrage. II
any other Mayor ever attempts any
| thing like Il, as said to Mayor Hylan,
we will see II We can have him re-
moved from office for violating his
oath"
Mr.. Bowling stated there is no rea-
son for the city to go into enterprises
that cannot be but Improbable to the
| real estate owners
| "City Must Re Restrained.
1T is plain as day that New York
must be restrained from spending more
than a reasonable income" the speaker
said, land the officials claim they can't
get enough revenue. We say realty
can't pay any more
| other speakers declared that a . per
cent limitation on the taxation real
estate may be expected TO bear when
lanalyzed shows that II amounts TO more
than Is imposed by the heavy Federal
| Government income taxes and actually
| borders upon confscation.
| In reply to questions by members OF
the committee 1t was brought out that
Iif this relief Is granted no reduction
in rentals Is contemplated. but the situa
ton will ease, competition will start and
there should be a direct benefit to the
person who rents property.
Mrs. L. II. Girard. president of the
Ladies' Pioneer Property Owners As
ISOLATION OF The Bronx, said that unless
relief is given still greater charges will
have to be imposed upon tenants. Stuart
Browne, president OF the United Real
Estate Owners, said that mortgage lend
ers find II necessary to Increase their
lrates and either call them or reduce the
lamounts because they no longer are
considered high grade security.