Evening star. [volume] (Washington, D.C.) 1854-1972, 1892-06-07
THE NEW ASSESSMENT.
The Assessors Believe Their Course Has
Been Generally Approved.
REAL ESTATE MEN THINK THEIR VALUATIONS Toe
HIoH-wHAT MEN WHO OWN STREET PROP.
ERTY sAY-oNE Is WILLING TO SELL OUT Al
THE FIRST OPPORTUNITY,


There were good many callers on the Dis
trict assessors today. Citizens who were anx-
ious to discover the opinions of these officials
as to the value of their property spent the time
in looking over the books They also spent q
few moments chatting with the members of the
board, all Of whom have been so long resident
here and so prominently identified with the
city that there was no need Of introduction.
The assessment, of course, was the theme Of
conversation, and while there were a
s soed ,s many oeusr remarks made still
evidently realized by the visitors, to whom it
meant increased contributions to the public
funds. The assessors were in happy spirits,
evidently relieved that their great work was
finished, and they all expressed qualification at
the character of the comments which they have
heard so FAR in regard to their valuations.
SATISFIED WITH THE VALUATION.
They have been told by citizens whose prop
erty has been advanced in taxable value 100 per
that while they looked upon the assessment az
high. yet they believed it was warranted by the
market value of the property. Naturally the
assessors are anxious to know what the citi-
zens think of their work. They have ex-
pressed their judgment, and it is
not to be wondered at that they
want to know whether it will be
confirmed by the judgment of others. So far
the assessors say that they have only heard
words OF commentator. They, of course.
recognize that the new assessment. as compared
with the last, shows a large increase. but they
believe that such increase is justified by the ad
vance in values shown by current sales. When
the appeals begin TO come In then they will be
able to form a more accurate judgment az to
how their work is regarded. They expect. how
ever, that whatever valuations were fixed upon
appeals would be made, representing, if nothing
more, honest differences OF opinions.
WHAT REAL ESTATE MEN THINK.
The general public thus far have only had the
data printed in Yesterdays STAR upon which to
base an opinion. There has not been the time
to examine the books. From opinions ex-
pressed by large real estate owners and men
whose judgment as to real estate values is
recognized as trustworthy STAR reporter dis
covered this morning that the new assessment
was regarded as very high. One man
said that the increase in values of
street property as shown by the
figures printed in Yesterdays STAR ranged all
the way from 100 to 800 per cent. If this rep
resented the actual advance in values he thought
that the conditions of the real estate market had
outstripped those of the liveliest boom town
in the west. The general rule is. he said.
that values in the business sections of grow
ing towns increased about 100 per cent
every ten years. But here, according to
this valuation, the advance, and more than
been surpassed in three years. He did
not believe that the prices obtained for prop
erty at forced sale justified such valuations
either in the business resident sections of
the city. As far as he was concerned it was
his intention to protest against the values in
the case OF every piece Of property owned by
him.
WILL SELL OUT.
Another man who is quite a large owner of
street property said to a STAR reporter this
morning that he intended TO dispose of his
property ont that street at the first opportunity
AS its increased taxation would wipe out its
value as an investment.
1t is quite likely that when the citizens gen.
orally become acquainted with the values fixed
by the assessors the appeals will come in. The
fact is recognized that this report Is a graft
flying evidence of the value of WASH
ington real estate, especially when it
is considered that the assessors have
done their work in conscientious manner. with
no other object in view than to fix the values of
realty in accordance with the rules of valua-
tions construed to be authorized by law
They had no desire to increase the revenues of
the city. although there is no doubt but that
will be the result Of their work.
REVENUE LAST YEAR.
Last year the revenue derived from the tax
on real estate was a little over % 900 900. This
represented assessable value which was q
per cent greater then the assessable value of
1886. The last assessment was therefore "a per
cent greater than the previous assessment and
it is estimated that the new assessment is so per
cent greater than that of 1889. In other
words. the revenue derived from real estate tax
alton next year will be S3.0O0.0O0. an increase
as compared with the present year of 81 900 600.
While the increase on the land and improve
ments together is about so per cent, yet
it is estimated that the bulk of the
increase comes from the land, as the
new assessment either reduces the
valuation in improvement or else leaves it as it
was under the last assessment. In cases where
manifest inequalities exist in the valuation
placed on improvements such inequalities have
been corrected. But the general rule has been
us stated, reduction on improvements and an
advance on land values. 1t Is said that the new
assessment shows an increase of 100 per cent in
the land values of the city.