This section is from the book "Real Estate Principles And Practices", by Philip A. Benson, Nelson L. North. Also available from Amazon: Real Estate Principles and Practices.
The aggregate Taxable Valuations of property within The City of New York for the year 1921, by boroughs, as certified by Dept. of Taxes and Assessments, are as follows:
Personal Estate | Totals | ||
Manhattan.................................................................... | 3$5,878,847,633 | $152,742,600 | $6,031,590,233 |
The Bronx.................................................................... | 852,447,403 | 13,899,700 | 866,347,103 |
Brooklyn..................................................................... | 2,395,486,473 | 37,741,850 | 2,433,228,323 |
Queens........................................................................ | 718,818,139 | 7,409,350 | 726,227,489 |
Richmond................................................................... | 127,385,456 | 1,428,675 | 128,814,131 |
Grand Totals..................................................... | $9,972,985,104 | $213,222,175 | $10,186,207,279 |
The amount of taxes imposed by an Ordinance adopted by the Board of Aldermen March 1, 1921, at 2.13 P.M., and approved by the Mayor, is 3283,669,218.49, distributed as follows:
For General City Purposes, viz.: Total Budget Appropriations for 1921.............................................................. | $313,459,633 54 | |
Less Estimated Revenues of the General Fund.................................................. | 63,216,718 87 | $250,242,914 67 |
For New York State Tax......................................................................................................................................... | ........................... | 22,041,183 27 |
Counties (Boroughs) | County Appropriations Included in the Budget o/1921 | County Expenses Paid during 1920 from Special Revenue | Borough Assessments Pursuant to Sec. 247, G. N. Y, Charter | TOTALS | |
New York (Manhattan)......................................... | $5,010,659 22 | $462,333 57 | ................................. | 35,472,992 79 | |
Bronx (The Bronx)................................................ | 1,247,990 44 | 101,281 18 | $47,045 97 | 1,396,317 59 | |
Kings (Brooklyn).................................................. | 2,745,170 19 | 252,111 43 | ................................ | 2,997,281 62 | |
Queens (Queens).................................................. | 767,177 17 | 53,932 40 | 422,872 58 | 1,243,982 15 | |
Richmond (Richmond)........................................ | 258,225 94 | 16,320 46 | ............................... | 274,546 40 | |
Totals...................................................... | $10,029,222 96 | $885,979 04 | $469,918 55 | 311,385,120 55 | 11,385,120 55 |
TOTAL TAX LEVY OF 1921........... | ............................... | ........................... | .............................. | .............................. | $283,669,218 49 |
Tax Rates for City and County Purposes State Tax, and Special Assessments on Boroughs | Manhattan (New York Co.) | The Bronx (Bronx Co.) | Brooklyn (Kings Co.) | Queens (Queens Co.) | Richmond (Richmond Co.) |
On Real Estate..................................................... | 2.77 | 2.84 | 2.80 | 2.85 | 2.83 |
On Personal Property.......................................... | 2.77 | 2.83 | 2.80 | 2.79 | 2.83 |
For City Purposes................................................ | .018439662060 | .018439662060 | .018439662060 | .018439662060 | .018439662060 |
For County Purposes........................................... | .000907388031 | .001557426134 | .001231812728 | .001130650632 | .002131337593 |
.020570999653 | |||||
Total Rates for City and County Purposes. | .0193050091 | .019997088194 | .019671474788 | .019570312692 | .020000000000 |
For Principal and Interest on Debt....... | .006127176981 | .006127176981 | .006127176981 | .006127176981 | .006127176981 |
For State Taxes........................................................ | .002163826306 | .002163826306 | .002163826306 | .002163826306 | .002163826306 |
Decimal Rates on Personal Property....................... | .027638053378 | .028288091481 | .027962478075 | .027861315979 | .028291003287 |
Special Assessments on Broughs........................... | .............................. | .000055189293 | ............................... | .000588288688 | ............................... |
Decimal Rates on Real Estate................................ | .027638053378 | .028343280774 | .027962478075 | .028449604667 | .028291003287 |
must be made against the names of the owners for some time past in order to ascertain the existence of arrears.
It has been noted that taxes in New York City by law become liens on the property on May 1st and November 1st in each year. As between buyer and seller the one owning the property on the day the tax becomes a lien usually pays it. It is the rule in many other places that the tax is a charge as soon as definitely determined, even though not due until a later date. The budget, assessed values, and tax rates for New York City for the year 1921 are shown by the tables on pages 30 to 33 inclusive.
 
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