The Minneapolis journal., 1902-08-11
CITY'S WEALTH
IS GROWING
The Total Assessed Valua-
ton This Year Will Be
$126, 900.
An Increase of "a Per Cent
Over Valuation of Last
Year.

Minneapolis total assessed valuation
in figures prepared to-day, is s126, us ,060.
This is an increase of "a per cent, as
paid upon, over the 1900 valuation. There
is yet to be deducted from the total for
this year the reductions made by the city
board of equalization on real and per-
sonal property and $4,000 Individual ex-
emptions of 500 each, or $1,500.0 900. The
total deduction from the assessors figures
will not exceed 4 per cent. This will
leave the net increase over the 1900 valu-
! alton at about 20 per cent.
The total real estate valuation was esti-
mated at s9S,916,S41. The personal prop
ty is valued at 7,19S,219 The greatest
percentage Of increase has been on real
estate, principally in the business center
and the better residence districts. The
board Of equalization made many impor
tant reductions in the personal property
assessments. Some Of the items which
appear in the assessors statement were
ordered stricken off by the board upon
| the advice Of the city attorney.
Downtown Assessments Increased.
Speaking of the work of the board of
equalization, which adjourned this morn
ing, the city assessor said:
The board generally sustained the as
| sessments, although some important re-
ductions we're made from my original
| figures on both real and personal prop
| erty. The heaviest increased valuation
Of course, was placed upon the central
| downtown properties. The applications
for reductions came largely from the big
more insistent on reductions being made
than usual because the assessments
| entered against them were much heavier
| in majority of cases than heretofore
From my figures the board saw fit to
make reasonable adjustments, particu-
| larly on property located On Nicollet and
| First avenues. I still believe that my
figures were none too high. Where the
| assessments appear to have been exces-
sive as compared with the figures Of 1900
| 1 maintain that the property In question
| had heretofore been taxed far below its
! just due and that the increases made tend
simply to make interested property own
ers pay their equitable proportion of the
| general taxes.
higher than that for 1900, it follows from
what have said that the actual valuation
of real estate in Minneapolis has not
+ necessarily increased to, that extent since
1900. 1t follows, rather, that to con-
siderable extent, real estate has been
brought up to it's normal value and that
it has heretofore been listed at figures
CouSluerdDly DelOW lCS aCCual worth
There is no denying, on the other hand
that real estate values, especially in the
business district, are constantly going up
| especially in the congested shopping dis
tricts. A brisk building movemen
throughout the city, more especially il
the central districts, naturally had ma
terial effect on the upward rise in values
On the whole, I am convinced that m,
estimates were made upon fair ant
equitable basis, and In spite of protest.
1t is my firm conviction that, in ma
jority Of cases, they should stand.'
The board of equalization held a fina
executive s .lon this morning. at which
its report was formulated for presentation
to the city council Wednesday evening.
The total personal and real estat,
| figures follow: