The Washington times., 1902-10-12
BUSINESS LIGHT IN THE
REAL ESTATE WORLD
Presence of q. A. R. Visitors
Halts the Market
UNCERTAINTY ABOUT TAXES
Realty Investors Appear Rather Timid
Owing to the Unsettled Conditions
That Now Prevail.

That Now Prevail.
Business in the real estate line was
at a standstill during the past week
1t was caused by the presence of the
Grand Army veterans and other visi-
tors in .he city. Everyone in Washing
ton. it seems, entertained, and as they
had to devote their time to showing vis-
itors the sights they had but little op-
portunity to give consideration to other
matters Even the brokers we're kept
busy The week, therefore was almost
barren of results.
Still there are other things having
their effect on the market. First. of
course. is the uncertainty about taxes
and the coal strike. /; is a peculiar
fact that the realty market. like the
financial one. is influenced by the slight
est change in conditions. The great ma
jority of people who invest their money
are rather timid when affairs are in an
unsettled shape.
From present indications, the reaction,
which is sure to come, may not be eX-
pected for some little time There are
any number of good deals under nego-
tiation which will not be closed until
these matters are definitely settled.
Books Eot Ready.
On account of the new assessment the
books are not ready and taxes due next
month will not have TO be paid until
May. They should have been ready ear
" in the spring. but on account of the
increase in the assessments there has
been delay which has necessitated a
postponement. This will work hard
ship on some. as it will compel the pay
ment OF taxes for the whole year in May.
Even yet the assessment question has
not been definitely settled. for the board
of governors of the Washington Real Ee-
tate Exchange which is to meet on
Tuesday afternoon. will call meeting
of the members of the exchange to pro-
test against the large increase.
When the Board of Assessors started
their work last November they were
given to understand that more revenue
was needed from real property. and in
stead of assessing property at one-third
or one-half its value. as heretofore, they
made il on two-thirds the value of the
property.
Protests About Werk.
1t appears that considerable objection
has arisen to the action of the board, for
1t is asserted that it has overdone its
work at least in some places. There
are instances where the tax has not been
increased al all, while property has en-
hanced in value since the last assess
ment three years ago. In other cases
property has been assessed at more than
its value. 1t is 10 this that the property
owners take exception. and their views
will be presented to the authorities not
only by the Real Estate Exchange. but
by the Business Mems Association.
In Columbia Heights the property on
several of the blocks is assessed at 80
cents per foot, the same as in the past,
although il is known that the value has
nearly doubled in recent years. An
other piece of property is listed for
sale at % cents per foot, while the as
sessment On the same has been in
creased from 20 to 81 cents. and it is the
general belief that the value of the
property has declined.
A Peculiar Condition.
A prominent real estate broker is the
or
and BrookIand. AT the latter place his
property is assessed at a greater value
than the former. This is rather a pecu-
liar condition, inasmuch as Lanier
Heights is in section where the great
est improvements are going on, while
Brcckland is never likely to be any
thing more than suburban town. The
lax on farm at Kenilworth is much
greater than the rent received
In the vicinity of Dupont Circle the
increase in the assessment is probably
greater than in any other section. A
piece Of corner property, owned by a
Chicago man, formerly assessed at S3.75
per square foot, has been raised 10 S. ie.
while the improvements, formerly rated
at $4,000, are now assessed az $i25,00
The ground assessment OF one prom,-
nent society woman has increased from
S2.s5 to $3.50 per foot. and the house
from 10000 to 100000 On the corner
OF Massachusetts Avenue and Twenty
second Street northwest ground has
been increased from $3.50 to $3.50. while /
on one of the corners opposite Dupon.
Circle, which was formerly occupied By |
an old mansion. the assessment on the |
ground has been increased from $3.50 10 |
S. per square foot
Coal Supply Short
Architects and builders have been
given concern ever the coal strike. II |
has caused uncertainty in securing |
building material. One of he larges; |
brick concerns in this vicinity closed |
down because of the failure to secure |
coal, and there is danger that the others |
will succumb il a short time
Only hard coal is used in the fur
naces now, instead of wood or soft Goa.
as the modern kilns will not permit the |
burning OF anything else Many of the |
have more orders in hand than
they can fill.
Still there are many buildings upde.
rouefrucfiau and tho arcbita.ts have