The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-11-15
CLOSE TO TWO MILLIONS.
ESTIMATED VALUE OF CNTAxED
GROUND RENT PROPERTY.

GROUND RENT PROPERTY.
ever 300 Ground Rent Lots in the
City-Their Aggregate Market Value
Estimated all the Way from 81 $780,
900 to s3oCoooo-what the City
Has Been Losing by Not Taxing
Them-The Council Split Up on the
Question Of Assessing the Property.
The opinion of Corporation Attorney
Adams background rent property is subject
TO taxation by the city has caused a stir
among property owners. There are, accord
ing to City Treasurer Hardee's report TO
the council, ST. ground rent lots in the city
Alderman Falligant, WHO precipitated
the question upon the council, and who has
given the subject deep study. says: 81
imagine that there are s71 lots or parts Of
lots held as separate pieces of property;
some hold half lots, and in some instances
separate titles have been made to lesser
fractions; as, for instance, where three
houses occupy lot Of sixty feet front, and
the lot has been divided into three parts
1.-The balance of purchase money due on
these 67l lots" Alderman Faligant says,
is in the neighborhood of $500. 900, the
interest or ground rent amounting 10 over
81, 900 per annumn.
TO ADD 81, 10000 TO s., OOO, 900 TO THE CITY
Il think the market value Of these S71
lots will be somewhere between a, SOC, 900
and S, 0O0,0 900. That can only be told by
having them appraised by the assessors,
and the assessment revised, if necessary, by
q board of real estate dealers and Others,
who know best about what this class Of
property is worth. Some existing assess
ments strike me as singularly low, If cur
rent talk be true"
"Can the city call in the balances due |"
be was asked
''No. But when the city stops offering a
man premium not to pay up, and punish
ing him for paying up. things will change.
The only reason they don't pay up is that
they have been rewarded for their failure
70 pay by being permitted to escape taxa
ton. When that premium for non-payment
Is removed they viii pay up 'ex-necessitate.'
First, because they won't want the mort
gage to remain on their property after
the removal of the tax exemption benefits;
and, secondly, because they will want TO
get away from the city its summary pro-
cess Of re-entry, which is, perhaps, the most
harsh and merciless process of mortgage
foreclosure in any state in the union. In
deed no such flesh and blood power exists
any where else, even in our own state.
NO REDEMPTION on GROUND RENT SALES.
''Under the general tax laws whenever
property is sold for taxes Dr. Falligant
added, "the owner Of the lot has a year
from the period of sale in which to redeem
1t; but under this process Of re-entry, pro-
vided for in these deeds the city advertises
thirty days, sells at once, and the owner of
tie property has no right of redemption
even for a second after the auctioneer or
sheriff has declared the property sold to the
highest bidder. IL property worth
SIC, 900 is sold for 500, it makes no differ
ence, it is gone, absolutely beyond recovery.
The amount of taxes which these lots
ought 70 pay would be in ratio to their
value. II upon fair valuation for pur-
poses OF taxation they are worth 81, 900. 600
at per cent they would yield sac, COOPER
ennum. What l want most to impress on
the taxpayers is this fact: That this $40. 600
If not collected from these lots, as it ought
TO be, is collected in excess from
the owners Of the remaining realities
in the city. In other words, if we had to
raise $3.50, 600 from real estate. S24O. 900
should come from other realty, and $40, 600
from ground rent lots. As it is now, the
whole $780, COO is taken from those who only
ought to pay $4,000; that is, they are
overtaxed $500, 600 every ten years. besides
losing interest on this excess so paid"
THE COUNCIL SPLIT UP.
1t appears to be matter of some doubt
If majority of the council will vote to
assess the property, although the city attor-
ney has held that they are liable to share
In the public burden of municipal taxation.
and it now looks as il there will be ltiga-
ton in the courts either resisting the tax if
levied, or a mandamus compelling the coun-
Gil to assess the ground rent lots if it fails
to do so voluntarily.
The city treasurer's report of the number
OF ground rent lots says: There are 4S
church lots exempt, board of education and
schools 81 lots, Savannah, Florida and
Western railway IL lots, Woman's Home
Missionary Society 10, armory lots Z.
government property lots, Sisters
OF Mercy lots. Orphans Home 4
lots, Georgia Historical Society lots
engine houses 4 lots, Savannah Female
Asylum lots, Orphan Asylum 2, old Jail
lots 2, Abraham's Home lots, st. Joseph,s
lnfirmary lots, and the following build
ings and ground: Police barracks, city
pound, county Jail, old cemetery, Telfair
Hospital, Savannah Hospital, parsonage of
Trinity church, Home for the Friendless
city dispensary and the court house.