No personal property other than machinery can legally be assessed to a Massachusetts corporation. The valuation of property of corporations chartered by the Commonwealth, which was included in the total that determined the rate of taxation, amounted to $148,190,275, of which sum $128,515,575 was real estate, and $19,674,700 was machinery. A statement showing the growth of corporate property locally assessed during the last twenty years is shown by the table marked “D," page 33. Under the provisions of section 9 of chapter 14 of the Revised Laws, the Board assessed the 431,000 shares of the sixty-three national banks of Boston upon a valuation of $50,500,500 — a total tax of $747,407.40 At the time the rate of taxation was determined the estimated value of 102,226.96% shares, $12, 821,116.13 was included in the total aggregate as property which could be legally assessed in the valuation of the City of Boston. The balance of the total assessment of this class of property amounted to $37,679,383.87, and the tax of $557,654.88 thereon was claimed by the Tax Commissioner, under the provisions of section 13 of said chapter for the State, and certain of the cities and towns of Massachusetts, in which shareholders resided. Section 15 of said chapter provides that 1 per cent. on the amount collected shall be paid “for the expenses of assessing and collecting” that portion of the tax which is not retained by the city or town where the banks are located. The amount of $2,385.29 can be added to the revenue of the city from this source, as only slight changes are found necessary in the adjustment of the bank taxes with the State authorities. ASSESSMENT STATISTICS. A table on page 13 will show the separate estimation of land and buildings, by wards, in the valuations of 1901 and 1902. A table on page 15 gives the valuations in total for twenty-five years. For the separate estimation of the real and personal property for twenty years, and for the total valuation of the city for thirty-five years, see tables marked “B,” and “E,” on pages 30, 31 and 34. All the valuations shown on these tables are those which determined the rate of taxation for the years to which they relate, and do not include the small amounts subsequently added by supplementary assessment. The valuation of 1902, as compared with that of the preceding year, shows a gain on real estate of $32,459,400, equal to an advance of 3.50 per cent., and a gain of $6,309,382 on personal property, equal to 2.77 per cent. The total valuation of 1902 is more than that of 1892 by $297,298,912, showing a gain in ten years of 33.25 per cent. The table marked “B,” pages 30 and 31, shows the rate of taxation in Boston for the past twenty years, and the table marked “F,” page 35, shows the proportion of each annual rate required to raise the tax of a given year for State, County, or City purposes. A table marked “G,” pages 36–39, shows the approximate value of the dwelling-houses of the city, and a table, marked “H,” page 42, gives certain statistics relating to the real estate of Boston. We deem it of sufficient interest to add also to this report a table showing the valuation of property, rates of taxation, and the number of assessed polls for each year from 1822, when the City of Boston was established, to the present time. For many years prior to 1842 taxes were assessed on the basis of 50 per cent. of the true valuation of property, which custom was discontinued in the assessments of that and succeeding years at the request of the city government. The result of this change will be seen in the reduction in the rate of taxation for that and the following years. SPECIAL ASSESSMENTS. Street, Sidewalks and Sewer Assessments. Under the operation of the existing laws the following amounts were certified to the Assessors by the City Collector as remaining unpaid one year after the date of assessment : Street construction assessments . e . $66,968 77 For sewer assessments . so to te . 134,569 92 $201,538 69 The several assessments were duly apportioned, and a sum equal to 9 per cent. of each assessment, with the required interest, was included in the tax-bills which were issued for the tax on the estates which were liable. The ninth apportionment of sewer assessments, certified in 1894, amounted to to $3,003 67 Interest to so e to 1,501 37 to o $4,505 04 Carried forward . * o to e $4,505 04 Brought forward . . . . . $98,639 42 The apportionment of sewer assessments, certified in Total amount committed to Collector . $133,466 48 STREET RAILWAY ASSESSMENTs. Under chapter 578 of Acts of 1898 there is paid to the City of Boston by Boston and Northern Street Railway Com pany . e { } g to to © $804 49 Old Colony Street Railway Company g 2,069 78 Total . Ç & • ' e wo $2,874 27 The Boston Elevated Railway, and all railways now owned or operated by it, are, for twenty-five years from June 10, 1897, exempt from the action of this statute, but said railroads pay, under chapter 500 of the Acts of 1897, a very similar tax to the Commonwealth, which tax is distributed by the Treasurer of the Commonwealth among the cities and towns in which said railroads operate. Boston's proportion of this tax is $58,126.13. There was also credited to the City of Boston by the Treasurer of the Commonwealth the sum of $326,819.95, being the city's share of franchise tax on street railways under chapter 14 of the Revised Laws. For the purpose of carrying out the provisions of sections 19 and 20 of chapter 11, Revised Laws, in relation to the assessment of persons not assessed a poll-tax in the regular assessment, the Board held evening sessions during the month of September previous to the close of registration for the State election in addition to their regular daily sessions. |