The New York herald., 1922-08-20
TAX RATE SHOULD
NOT EXCEED 2.7a
Real Estate Board Says Budget
Ought Not to Run Above
1856, 100000 This Year.

The demands on taxpayers and the de-
tails of budget making now in progress
are described by the Real Estate Board
OF New York In the following statement;
Few people are aware to-day Of the
Immense amount OF work entailed in the
making of the annual budget of the city
or New York. The estimates from the
city departments and from the borough
and county officials are all in the hands
OF the Board OF Estimate ana apuroxi-
mate many more millions than the city
officials could levy and keep within con-
stitutional requirements unless the city
assessment roll shows an enormous In
crease In total assessed values. This.
however. seems hardly possible. In view
of tax exemption the budget must be
kept in the neighborhood of ss55. .ooo. 900.
The budget for 1922. about ss62.-
ooo.oo0. was the limit under present
assessed valuations. and a budget OF
$355.000,000 would be all the assessed
valuations for 1928 would permit. It
Is necessary. therefore. for the secretary
or the Board Of Estimate and his able
force OF assistants and examiners to
examine into every item OF the estimates
In order that no absolutely essential item
be neglected nor any unnecessary one
be included In the final estimate.
THE result of their Investigation In
then transmitted to the budget corn-
mittee of the Board Of Estimate, which
comprises every member. ana dailvr
hearings are held. Nearly every de.
partment and official ts asking for more
money.
The Board Of Education asks for
$20.000,000 additional. the Police and.
Fire Departments. the Department ~,
street Cleaning. the Law Department.
the Board Of Health and the borough
OFFICIALS are ell asking increased appro-,
priatlons. and there Is propaganda and
asration by organized bodies of city.
oinclais ana by outside organizationss
Tor increases beyond even those officially
favored.
Between now and September 10. when
the first report will be made. the merits
not only of the 355 or more millions
"nich may be absolutely necessary
must De passed on, but also the forty
or fifty millions additional asked for
must receive consideration.
BY the 10th of October a tentative
budget must be prepared for public dir
cussion and must be printed in parallel
SANAitAH SAoWlH6 the amount asked for.
the amount appropriated the previous
year and the amount expended during
that year. On or before October 20 the
Board of Estimate must file with it's
secretary the proposed budget and after
that date no new item can be inserted,
but any item can be decreased.
Before the budget is finally adopted
the board must fix dates when tax
payers can be heard and the board
must attend such hearings. After the
budget Is adopted by the Board of Esti-
mate 1t must. within five days. be sub
mitted to the Board OF Aldermen and
the Mayor shall call a special meeting
Of that board to consider It, The Alder
men have twenty days for discussion
and may decrease any item in the
budget. but cannot increase it.
The budget must be finally adopted
and certified and filed with the City
Clerk by December 25. AS the budget
this year will probably not exceed $685.
100000. the tax rate. with probably $780,
100000 decrease In assessed valuations,
should not exceed 2.72 The principal
items of expense will be, about as fol-
lows: