Show A NEW TAXATION SCHEME the desirability of encouraging the building of homes by those only moderately with gordly possessions is the badts of a scheme now receiving considerable attention in new york city to exempt all real estate from taxation in respect of the first 3 of its value some in regard to the proposition aiono from the supposition that it aimed at relieving only properties worth that amount or less but it has cicen explained that it would appy to real estate of all kinds of course the relative advantage would be greater in the smaller properties it is also explained that tho proposed relief would apply to the improvements effected irrespective of the value 0 tho lot thus it a man owns a home which Is worth apart from he lot upon which it is built he will pay no the house at all it another owns a house worth irrespective of abo value of the lot he will be relieved from taxation to the extent of la other words be will be taxed on im of and so on all improvements no waiter what gieir value it is contemplated by the promoters that the adoption 0 a tax basis on these lines v stimulate tho building of email homes jerond tho city and thus tend to utilize land lying ready within twenty miles and at the same time relieve new york of that congestion which is widely recognized as a blemish on the city |