Under the first of these heads, during the present Total... REVENUE. The revenues of the State are derived from many sources other than from the taxes levied upon the counties, various forms of wealth being taxed for the support of government. In making up the annual estimate of the State's income, the Comptroller is necessarily compelled to rely largely upon the experience of previous years, and it will be readily understood that the actual receipts under certain or peculiar conditions may differ somewhat from his estimate. Great care, however, has been exercised in the preparation of these estimates, and a detailed statement is herewith given in which the sources of revenue are stated, and comparison made with previous year's receipts where possible. STATEMENT. Estimated balance on hand September 30, 1892, which includes all moneys from all sources in the General Fund...... Add receipts from State prisons, as per supply bill... Of which there is reserved. Leaving a balance of..... A conservative policy requires the reservation of this amount, and, accordingly, it is not taken into account in the estimate upon which the tax is based. The State taxes from counties are not payable into the treasury until the 15th of April and the 1st of May following, hence for a considerable period payments in excess of miscellaneous receipts would have to be provided by temporary loans, were not such reservation made. Tax on corporations. For the past three years this tax has yielded:' 1889. 1890. 1891. It is my belief that the revenue from this source may be somewhat increased without the infliction of any hardships upon the corporations paying the same. The time of redemption from the tax sale of 1890 will expire December 23, next. In my opinion the redemptions of lands sold for taxes at such sale will bring into the treasury fully the amount indicated. Fees of public officers... 'Bank department. ...... Railroad Commissioners' expenses. Gas light companies .... $30,000 00 28,000 00 140,000 00 65,000 00 2,500 00 These four items are assessed pro rata upon the several corporations and institutions for whose inspection and supervision they are exacted. Special tax Supreme Court judges and stenog raphers $61,000 00 This item is levied upon the counties comprising the several judicial districts of the State, as provided by chapter 426, Laws of 1890. Shore inspector.. $27,000 00 Levied upon the counties of New York, Kings, Queens, Richmond and Suffolk. Collateral inheritance tax.. $1,000,000 00 From this source there was received last year the sum of $890, 267.54; but I am confident that with the additional appropriation made by the Legislature this year to enable this department to make examinations of the records of surrogates' offices, for the purpose of securing a more rigid enforcement of the collateral inheritance tax law, the State will receive fully the amount estimated. Inheritance tax (chap. 215, Laws of 1891)... ........ $550,000 00 This is the succession tax, so called. On March 9th, I addressed to you a letter setting forth the failure of this law to produce anything like the revenue expected from it. The estimated revenue was placed at $2,000,000. To February 1, but some $24,000 had been received. Since that time I have caused strict examinations to be made in various quarters with the gratifying result of a considerably increased revenue. Corporation organization tax.. Fees of notaries .. Niagara reservation. Electrical subways $185,000 00 35,000 00 8,000 00 40,000 00 [SENATE JOURNAL.] 185 This sum is the result of an assessment upon the various electrical companies having or using electrical conductors in New York city. Pool tax.. Soldiers and Sailors' Home. This revenue is received from the Federal Government, which grants to our Soldiers and Sailors' Home at Bath, the sum of $100 per annum for each member who is a recipient of its bounty. Estimated amount of expenditures for all purposes Amount to be levied upon taxable property of $5,200,368 26 $12,135,844 85 5,200,368 26 $6,935,476 59 To produce this sum it will be necessary to levy a tax of 1% mills upon the aggregate assessed valuation of the taxable property of the State, as returned by the board of supervisors of the several counties. The following schedule shows the rate of State tax upon each dollar of the aggregate valuation of property from 1857 to 1892, inclusive: Year. 1876. 1877.. 1878. 1879... 1880.. 1881.. 1882... 1883.. 1884. 1885... 1886... 1887.. 1888. 1889. 1890. 1891. 1892. 1.98 100 In submitting this statement I desire to call the attention of the Legislature to the fact that the tax rate for the fiscal year commencing October 1, 1892, is the lowest rate since the year 1856, with the exception of last year. The Executive and the Legislature are to be congratulated upon this gratifying result. An economical administration of government can not but be acceptable to the taxpayers of the State. FRANK CAMBPELL, Comptroller. GENERAL PURPOSES. Appropriation bills which have become laws (bills making reappro Chapter 287. Legislature, contested election cases, 324. General appropriation bill Bills in the hands of the Governor, including supply bill just signed, estimated... DEDUCT ESTIMATED REVENUE. Estimated balance, September 30, 1892, including taxes due from New York county. Add receipts from State prisons, as per supply bill of 1892 .. Railroad companies... Gas-light companies, for salary of inspector.... Special tax for judges of the Supreme Court and Pool tax Niagara State Reservation Electrical Subway Commission Soldiers and Sailors' Home State prisons.. Miscellaneous Amount to be raised by tax... |