profits. The commission is making earnest effort to have all bank stocks in the state properly assessed.

The bureau has waged an earnest campaign to secure the better local assessment of the real and personal property of incorporated companies. There has been and is a decided purpose on the part of local assessors generally to assess this property for only a small percentage of the real property, for little of its personal property, and practically nothing for machinery and equipment. Whether it be to the better interests of local taxpayers so greatly to underassess these properties counts for nothing, since the law specifically provides that all real and personal property, unless made exempt from taxation by statute, shall be assessed at its full value. It is difficult and in some instances, impossible for local assessors fairly to appraise the value of property of this kind and we have given them all the aid within our power subject to the means at our dis posal. We believe a taxing district in which the properties of the larger corporations are located would be more than repaid in taxes for one year for the amount which might be expended in employing experts to appraise, for the purpose of taxation, the values of those properties. The bureau refers with appreciation to the work of the assessors of the cities of Buffalo and Batavia in ap praising and assessing properties of incorporated companies in those cities. Reports of local assessments of properties of incorporated companies are made by clerks of boards of supervisors and filed with this department after the annual meetings of respective boards have been finally adjourned. Too few of these reports have reached our bureau to warrant a conclusion as to the increases in the local assessment of the properties of incorporated companies this year. Unofficial statements, however, warrant the belief that final reports will show substantial increases in several tax districts.

USE OF TAX MAPS AND LAND VALUE MAPS IN THE ASSESSMENT OF
REAL PROPERTY IN THE SEVERAL CITIES OF THE STATE
In the cities of the state with few exceptions the assessment of
real property is not based upon any scientific plan. Tax maps are

without which a proper comparison of values cannot be made and which form the only method for correcting inequalities which are sure to exist if the assessing work is done without the use of such maps, are in force in but two cities of the state, namely, New York city and Buffalo. The latter city has made great strides in its assessment work during the past two years, and has developed a highly organized assessment system which is producing splendid results. The use of tax maps and land value maps has played an important part in this work, and while the original outlay has been considerable the amount has been returned many fold. What has been accomplished in the city of Buffalo can be accomplished in any of the cities of the state if the same methods are applied. The city of Niagara Falls and the city of Beacon are about to adopt a system of tax maps supplemented by land value maps. The city of New Rochelle also is to put into effect a very complete assessment system. It is expected that the year 1917 will see a system for the assessment of real property in force in that city which will set a new mark in assessment work for cities of the third class.

Tax maps are now in use in the following cities:

In some of these cities the maps are not of the kind to give the best service. Of the cities noted above, Rochester, Mount Vernon and Yonkers have taken steps to supplement the tax maps now in use with land value maps, and the assessing officials of these cities are hopeful that land value maps may be in force in these cities during the year 1917 or 1918.

In the following cities tax maps will be inaugurated in the assessment work for the first time in 1917: Albany, Tonawanda and Beacon.

The city of Ithaca employs tax maps in the assessment of about one-half of the city, and an effort is being made now to secure maps for the remaining half.

The following cities do not employ tax maps, and the assessment-rolls are prepared in alphabetical order, covering the city as a whole: Glens Falls, Cohoes, Johnstown, Hornell, Oneonta, Port Jervis, Hudson, Rome, Norwich, Rensselaer, Onondaga, Mechanicville, Schenectady, Binghamton, Auburn, Poughkeepsie, Watertown, Elmira, Jamestown, Amsterdam, Gloversville, Salamanca, Fulton, Plattsburg, Batavia, Corning, Cortland, Geneva, Oneida, Olean and Watervliet. In nearly all of these cities the assessing officials are showing a lively interest in the matter of tax maps and land value maps.

In a limited number of cases the failure to improve on the system of assessment now in force is due to lack of interest on the part of the assessors. In many of the cases, however, the expense necessary to install a modern system is an obstacle. Officials are unable to see that money spent for the installing of a scientific system of assessment is an investment and not a liability.

D. THE SPECIAL FRANCHISE TAX BUREAU

The special franchise tax bureau is charged with the duty of gathering and collating data relating to the appraisal of the values of special franchises. During the twelve months beginning October 1, 1915, and ending September 30, 1916, the special franchise valuations were prepared by this bureau in all the tax districts of the state for action by the commission. These include 58 cities and the towns and villages of 57 counties, the counties of Kings, Richmond, Queens, Bronx and New York being embraced in the city of Greater New York. The total full valuation of the special franchises in the 58 cities is shown in the following table. The following table (A) shows a segregation of the tangible and intangible values of the special franchises, which separation provides the means of determining the tax revenue derived from the assessment of the intangible element in the special franchise in excess of the tax revenue which would be produced if tangible property only were assessed locally, as was the condition

The total full valuation of the special franchises in the towns and villages of the 57 counties outside of the counties in the city of Greater New York, is set forth in the following table. Table B shows a segregation of the tangible and intangible values of the special franchises, which separation provides the means of determining the tax revenue derived from the assessment of the intangible element in the special franchise in excess of the tax revenue which would be produced if tangible property only were assessed locally, as was the condition prior to the enactment of the special franchise law: