Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-01-16
LARGER VALUATIONS
viii Likely Make Heavier Burdens
fer Tenants to Bear.
VIEWS OF REAL ESTATE PEOPLE.
Prospect of q Big Increase in Value Of
County TaXableS.
WILL RESULT II REDUCED MILLAGE
VIEWS OF REAL ESTATE PEOPLE.
WILL RESULT IN REDUCED MILLAGE

The increase in city valuation is exciting
considerable discussion among property
holders and tenants. George Johnston, real
estate agent, states that, generally speak
ing. his tenants Will bear the brunt In the
increase of taxation, as landlords say they
cannot accept less net returns from their
property than they have been getting and
tenants must endure the pressure, or-Mr.
Johnston didn't say just what, but the in
ference would naturally be that they must
give the landlords chance to get other
tenants.
John Heron. of William a. Heron &
Sons, was not disposed to take a gloomy
view OF the situation. He says in growing
cities rents fer business properties natural
" advance with the increase of population,
and holds that the present increase de-
nand bv some owners is not abnormal Mr..
Heron further states that the depression
caused by The panic of 1873, has not yet
been overcome, and houses on First avenue
which rented for 81, 200 prior to 1873 had
declined 10 $500 during the depression
which followed, and, though there has been
3 recovery, are still renting for consider
ably less than they did 10 years ago.
stiI Not Up to Former Figures.
Here Mr. Kelly interposed to remark that
in 1873 and previous rents as everything
else. were based on an inflated state of the
currency Mr.. Heron admitted this, but
sill held that the recovery had not
reached the basis of 1873, imitation
suhtrartcd. lIr. Heron states that bust
bringing hirn rents, are not overly remuner-
ativs and seldom net over AZ or 5 per cent
10 lheir owners. The Capitalization that is
constantly going or in all branches of trade
reduces competition, as the demand for
room Goes n0t grow with the increase of
trade and oniv the CONSTRUCTED business
area Of Piusburg keeps rents up to re-
munerative figure. AS to tenement houses,
Mr.. Heron said il was not good policy for
owners to stand out for the last dollar posi-
ble to squeeze out of tenants, and part of
their duty Is agents was 10 make each party
understand the situation. As rule, Mr..
HerrcD said, good tenants were dealt with
reasonably.
In this connection it may be stated that
NormecutJ y Co, of Fifth avenue, refuse to
accept the situation and will move to
hashev's place, but it is said that the rise
on them was 4 speculation on the part of
person who rented the entire building, and
TINS kind Of business is not infrequent.
The Last Day for Assessors
Yesterday was the last day for the assess
ors to return their books to the County
Commissioners with the assessment for 1892
Almost al the books were brought in and
the few still out will be returned in a day
or two. The Commissioners have already
commenced work as the Board OF Revision,
and the result of their labors will be made
apparent when the total valuation for the
county is calculated. They have been
working on the books as they come in,
taking a general look through them and
estimating about what proportion to in
crease valuations 10 give an equitable valu-
alton throughout the entire county, They |
have about defined their course and acting |
On recent sales as basis, will raise valu- |
auons TO what they consider proper figure. |
An increase in the county's valuation will |
be the result
= Heavy Increase Made.
The assessors themselves have in almost
al the districts made an increase ranging
all the way from 3 to 100 per cent over the
last triennial assessment. Even the latter
figure, however, the Commissioners say,
has not brought the valuations up to what
thev should be. The increase bv the
assessors viii average % per cent on fhe
total This, with the $50, 000. 600 increase
made by the Board of Revision on the
occupation valuations will run the total
near TO 500, 600, 900, without calculating
the increase that viii be made by the Com
Inlssloners on property valuations. They
will make a still larger figure, and as the |
total valuation at present is but S2S5, ,000 900,
lhere viii be considerable room for re-
T... IL