Evening star. [volume] (Washington, D.C.) 1854-1972, 1892-04-26
PROPERTY VALUATIONS.
Estimate % Values Given Before the House
Assessment Investigating Committee.

PROPERTY VALUATIONS.
Estimate or Value. Given Before the House
Assessment Investigating Committee.
The House committee. consisting OF Mr..
johnson Of Ohio, Mr.. Washington Of Tennes-
see and Mr.. wadsworth Of New York, who are
investigating the question Of assessments in
The District, have now fairly settled down to
work. Yesterday, as reported in TIE srsR,
the committee had before il Messrs SWORN
stedt and Hoffman and examined them in
relation TO the values OF street property
Before the meeting yesterday the committee
had examined the assistant assessors in regard
70 the assessment which is being made at pres
emit and several real estate men as 10 their
iaeas on INC proper valuation Of property in
various portions OF the city.
Mr.. N. / Weller testified 90 10 q number Of
squares In East Washington. Mr. Weller esti-
mated on tie following squares: Square sac.
total value, s5i,7la95, being from GO to rs
ssns per square foot; square SIS. at siel.-
i Son 20 10 S e sSsSsi Der 0 sdos:
square s24, at sei, 472 IS, beng from so cents
70 sl2S per foot; square sos. at s66. 9l7 20,
at s6so65, being from 20 cents to 81 per foot;
square 647, at S140, 1880, being from 50 cents
TO 81 per foot; square 72l. at eos, 9l995, being
from 80 cents to rs cents per foot
The other gentlemen who gave testimony
we're Mr.. Armes, DIR. Young and Mr.. Decide.
AS basis OF comparison all three of these gen.
Yemen estimated on square 25S, which is the
street square on which tho Sun building is
situated. Maj. Armes estimated this square
At total valuation of ss,076,s7l, which
ne did by valuing the y street lots on
this square at from S25 to s65 per foot
and the remainder Of the square at from
$40 TO ESQ per foot DIR. Young on the other
hand valued the entire square at s2si4. s4l.
oelng from t25 to $50 for street property
and from Sl2 to S25 for the remainder. The
value OF the square according to Mr. Decide
was g. ITO, 99S. so, being from S25 TO S75 for +
street lots and from sls TO $50 for the re-
maiuder.
Dr. Young also kstimated on a number of
$50, on which the orphan asylum is situated,
ne valued at e5s7, e0o being from eos to $50
per foot He placed the following estimates
on other squares in the neighborhood: square
81, at s52l, 44o being from S25 to $40 per foot;
square 2ss, ut sS75, 040, being from $50 to cas-
per foot; square $50, at Ss05, 2l7, being from
els to $40 per foot; square 254, at 81, e0l, 77i,
being from SIS to $50 per foot. Mr. Decide
also estimated on square 224, which he valued
at 81, III, 995. so. being from SIS to s75 for
street. lots and sls to $50 for the remainder.
Testimony Taken Today.
The committee continued its labors this
morning, Mr.. b. II. Warner being the first
witness called Mr.. Warner wanted TO thor
oughly understand what he was expected TO
testify about before he began. Mr.. johnson
read q letter written by Attorney Thomas on
July 6, 1891, in which he defined value as
the utility or purchasing power. He defined
the meaning Of the word to be the market
value Of property not at a forced sale, but
under average circumstances when purchaser
could be found.
Mr.. Warner said all right and commenced an
swering questions. He had seen street prop
erty go mp from % per foot to its present value
and he considered the growth very sporadic an
average panic would drop values 33 per cent
The loan and trust companys lots at 9th amp
for s24 per foot in 1890 This
today. He thought tina. for average Business
purposes and in order to pay AZ to per cent
the land was worth s35 foot
VALUES CHANGED RAPIDLY.
Mr.. Warner thought values in the city
changed rapidly. The building of the Loan
and Trust building had advanced property 3sx
per cent One great reason for Washington's
growth was the low valuation of property.
He thought it would be unfair to assess at
full market value with reference TO a
shoas hit p the question pf0p should be be
what would it bring if one-third or one-half
OF the surrounding property should be thrown
In answer to further questions Mr.. War
ner said he did not know as any prop
erty could be bought on + street
at the prices he had given. He had held
an option and refused il on the
Masonic Temple property for S35. the price he
had estimated the Loan and Trust Co lots.
directly opposite. Property he thought in
places was held at a fcticious value on
street
GENERAL OPINIONS OF THE INVESTIGATION.
Mr.. Warner said he would tell the committee
what the general outside opinion of the inves-
tigation was, and Mr.. johnson said 60 ahead
Mr.. Warner said that in view of the
fact that Mr.. johnson had introduced
a single tax bill, and had supported these views
on various occasions, the impression prevailed
that the investigation had in view to demon
strate the value Of the single tax idea.
Mr.. Warner was continuing when Mr.. John
son interrupted to say that tine investigation
bill. 1t had been stated because
testimony before the Commissioner had clearly
shown inequalities in the assessment, and the
present committee only desired to prove this
II it we're 80.
THE SINGLE TAX IDEA NOT INVOLVED.
Mr.. Washington remarked: That's right
There has never been any idea Of involving the
single tax idea in this investigation. For my
self am not an advocate of that plan. The
sessment."
Mr.. Warner remarked that il the committee
would increase the incomes they might in
crease taxes. The growth of the city was
largely due to the method OF taxation, and the
present board was more fair and equitable
than many Of its predecessors.
VALUES ON OTHER SQUARES.
After the recess the committee continued its
Investigations. Maj. Armes testified regarding
the number Of squares Square 225, on which
Willard's hotel is situated, he estimated
lots at the following values: Lot i, eos
per loot; and y, $40; and 8, SS5; 6, $50; 2,
$50; II and Is, $50, and l6 S35 Square 554,
on which the Ebbitt Hotel is situated, he valued
at prices ranging from sic to s45 per foot.
Later on MIR. Warner reappesred and con-
tnucd his testimony. The Loan and Trust
building lots, said Mr.. Warner, contained
& o0Q faat Tha hrlildiucx itsalf