The morning call., 1892-07-19
REAL ESTATE VALUES.
They Were Cons cred by the Board of
Equalization Yesterday.

They Were Cons dsred by the Board of
Equalization Yesterday.
The last meeting of the Supervisors as
a Board OF Equalization was held yesterday,
and considerable routine business was dis
posed Of An application was made by the
Society for the Prevention of Cruelty TO
Animals asking to have the assessment on
the pound property on Sixteenth street
Cancelled, il being represented that the prop
erty is Used for the benefit of the city. and
should not be assessed. 1t is valued at
$500. The application was granted.
Quite an interesting discussion took place
regarding real estate balances in the city
and the assessments of the Assessor
Thomas Magee. the real estate man, APP
reared before the board as an expert re-
garding values. He was examined by Super
visor Ebert.
In Mr.. Magee's opinion any person with
Judgment could buy as much property in
the suburbs for 5000 as he could have pur-
chased year aud half ago for $1,000. 1t
was supposed that Assessor Siehe had adj
vanced the roll in value about S33. 000,000
but owing 10 the decrease in the realty
values and general depression the increase
really amounted 10 over S60000,0 600. This
increase was harmful all around. Ia the
district south Of Market street rents had
fallen, and, taken all together, Mr.. Magee
did not think II would be fair To assess
| property over 60 per cent OF It's cash value.
Last year the State Board OF Equalization
admitted that San Francisco property was
assessed at 20 per cent of its value, and this
Year il Is assessed a. 81 per cent.
Mr.. Magee then went on TO give his
opinion of the depression caused by a heavy
rate of taxation. He was IN favor of asking
the State Board OF Equalization for re-
duction of 80 per cent. At present the city
is laboring under the load of several heavy
street assessments for openings and extern
sions. All these should be ignored by tie
board as they only had the effect of de-
pressing values.
Chief Deputy Assessor Herzer denied the
insinuati0n made by Mr.. Magee that the
assessments had been raised 10 satisfy the
State board.
Deputy Assessor Briggs assured the
board that the assessment roll was not ex-
cessiye. Notwithstanding the assertions Of
real estate men. The assessments were
based on actual values OF property accord
ing 10 cash sales made. Mr.. Briggs ad-
mltted that there was an impression in the
community that property valuation had de-
preciated about 20 per cent during the past
year.
Upon motion of Supervisor E lert it was
resolved that the Mayor, Assessor aud
Fianance Committee of the board appear
before the State Board of Equalization at
the proper time and place with them the
necessary proof to substantiate the claim
that IN Justice TO the taxpayers Of the
city and county a reduction II 80 per cent
should be made IN the valuation Of property
as assessed on the aSsessment-boOk Of the
fiscal year 1928 for State purposes.
number Of petitions for reductions Of
assessments were passed upon. Among
some Of the most important ones passed on
favOTaby were the following: Joseph
WOres, $4,000 to 81. 500, on property on
the sou beast corner OF Polk and McAllister
streets; George ). Grim. from so, 800 to
$4,000, on property on the northeast corner
of Sixteenth and York; Truman Is. Taylor,
$500 to $1,000, on property on the north
west corner of Valley and Castro: b.
Bangs, S72. 625 10 SIS. 17j, on eight lots; Alice
Skae, S35,600 to S2S.000, on property on the
southwest corner of Larkin and Fulton
streets. An application made by Asa Els
for reductions on several pieces of real
estate as denied.
The board then adjourned