i8 THE A B C OF TAXATION Based upon the foregoing ratio, the following con servative estimate of the gross land value of Boston is submitted for scrutiny and criticism: A CONSERVATIVE CALCULATION OF BOSTON’S GROUND RENT If the assessed valuation* of Boston’s land for 1907, which is in round numbers Is five-sixths of its selling value, then the addition of one-fifth .... Would give us as the net selling value Adding to this the capitalised value of the amount of tax now on the land, $15.90 per thousand on $653,000,000, or $10,382,000 at twenty years’ purchase ** . Would give us as the true capitalised ground rental value...... Add moderate estimate for franchises, say And we should have as a basis of assessment under the single tax a total capitalised ground-rental value of at least. At 5 per cent this would indicate for Boston a ground rent of $653,000,000 130,600,000 $783,600,000 207,600,000 $991,200,000 108,800,000 $1,100,000,000 $55,000,000 or considerably more that double the total taxes of Boston.! *The official figures arc: Valuation Rate Tax Land . $652,995,30x3 $15.90 $10,382,700 Buildings ..... 417,869,400 15.90 6,646,200 Personalty ..... 242,606,857 I 5-9° 3.857,435 $L3i3>47M57 t Boston’s income from taxation for 1907 was: Land values ....... $20,886,335 $10,382,628 Buildings and other improvements 6,644,121 Personal estate 3,857449 Polls 369,966 Corporation taxes 1,087,793 Liquor licences 1,079,585 Boston’s total city tax (including state tax) $*3,4*1.54* **See p. 24, lines 21-24 and p. 32, lines 8-13, and p. 41 (g).