The morning call., 1894-09-06
1T is A BIG JOB.
The Enlarged Assessment
Entails Work.
IL Doesn't Touch the Banks and
Money-Lenders-O Property
Owners Affected.

The addition OF l5 per cent TO the assessed
valuation of property in the city and county of
San Francisco Is all very easy for the State
Board Of Equalization. A stroke OF a pen does
II. But II Is quite another matter with Auditor
BrOdeIick ana Assessor Siebe.
IL IN ans vast deal OF work for force OF
clerks for many days. They viii have 10 figure
out just what II means 10 every property
owner IN the city and county. The addition
does not affect money, NOR cages or other Sc
curitieS, ana where property Is mOrtgaged he
amount OF the same Is to be subtracted from
the value OF the property. II Is all set forth
and illustrated IN tile formal notice addressed
To and received by ihe Auditor yesterday, Ii
reads as follows:
Anr-rleIse take notice that on the Sd day OF
september, 1894. tue State Board of Equalization
ordered that the entire assessment roll or book
for 1894 OF the city and county OF san Francisco
be Increased 10 per centum To the VsluatIo Of all
the property nStcd therein, exclusive OF the ap.
portionment made BY this board OF the assess
ment of railways to said county, so to eQualize
the assessment of the property eontained GU said
asSeSsm ut roll and make the assessment uniform
To the true value In money OF the property con
tained on said rol; provided that either moneys
solvent credits nor mortgages deeds OF trust. con
tracts or other obligations by which a debt Is
secured are raised above thelr face value.
when the property TO be raised Is not subject to
deduction by reason OF . mortgage or deed OF
of the total column valuation.
la all cases where the property IS subject 10 a
mortgage or trust deed The percentage must first
be added to the OF the property affected
sud the deduction made from the increased as
SeSSmeEt, and the change must correspOndingy
be made IN the total value column, otherwise
there VIII be less amount of taxes raised than Is
necessary tor state purposes
To Illustrate; suppose A is assessed FOR tract
OF land valued at $1,000 subject TO a mortgage
for Sj0o, the remainder assessed TO would be
5000 as the percentage, say 70 10 per cent added
would be $50. aud the amount upon which taxes
would be levied upon AS property would be $500.
But as the Increase by the state Board IS based
upon the theory that AS property has beea 50
Underyalued as TO need aD addition OF 10 per
cent TO bring AZ to ali approximate true value, II
Is evident that the 10 per eed should De added TO
the value OF such property. The addition of the
10 per cent wonlG Increase its assessed value to
SllCO as the remainder. afree dedueting the
mortgage, would be S6e0 subject TO taxstton.
Where mortgage, deed OF trust contract or
other obligation BY which debt Is secured ap-
pears 10 have been assessed below the amount due
thereon. as Is often done by 70 scale it
down 70 the low assessment OF property affected.
YOU VIII add the per Ceutun to the valuation OF
the property Affected ana then TO the vaue OF the
mortgage, deco OF trust etc, ami $3.50 TO the
amount 20 be deducted, provided sue addition
does not raise such instrument above its tace
value. L, G. MoREHousE
Chairman State Board of Equalization.